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> 19th century Capitalism, with actual free markets To be absolutely clear, when people say that free markets have never been a thing, you're saying that this
by saraid216 13y ago
> 19th century Capitalism, with actual free markets
To be absolutely clear, when people say that free markets have never been a thing, you're saying that this claim is false and we've had them in America in the 19th century?
- btilly 13y agoWe did have something much closer to them. The popular reaction to what happened under those markets is why we developed anti-trust regulation, and taxes on rich people. (Which peaked in the 1950s with a marginal income tax of 92-93% on earned income over $1 million/year.) Bill Gates is, in many ways, the Andrew Carnegie of our day. Both in good and bad ways.