The Ghion Journal
There was a time not too long ago when capitalists used to make a show out of saying that the “free markets” requiring as little regulation as possible and demanded zero governmental infringements. Citing their gods Adam Smith and Alexander Hamilton, Wall Street “elites” used to insist that the “invisible hands of capitalism” would determine the winners and losers and always arrive at peak efficiency when it comes to producing goods for the consumer and delivering economic nirvana for society.
Of course, this was all a charade; corporate capitalists always had a symbiotic relationship with government. Going back to the days of Norman Rockefeller and JP Morgan in the early 1900’s and prior, godlessly rich robber barons used to leverage their size and scale to eradicate competition and dictate governmental policies. Woodrow Wilson was elected because he made a deal with the devil and bowed to the dictates of JP Morgan, the price Morgan demanded of Wilson for supporting his candidacy was a central bank that would come under the purview of private financiers.