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The Lords Of Creation Audio, Cassette – October 29, 1990
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|Audio, Cassette, October 29, 1990||
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The only thing to change about the book is a new forward by Miller and an introduction by business writer, Gretchen Morgenson, of the New York Times. And, of course, that second half of the title has been added. In 1935 when the book was originally published, Wall Streeters were still called banksters. We can thank Occupy Wall Street for successfully marketing the 1 percent brand.
There is a way to generate income by creating a real value. It takes effort and talent and imagination and inspiration. Much more effective, quicker and powerful way to enrichment is by plundering or stealing from someone who creates a real value. It worked this way since before Roman times. You can check Tacitus: "Annals". The model Morgan applied: to borrow from the public and then let the expanding industry pay off his debt and generate profit was exhausted when the railroad and metal industry reached high noon. So this book takes us to the dawn of the Military Industrial Complex, when Big Money experienced a spike in profits due to the First World War, feeding the carnage in Europe. This model works well.
That is now,but this is then: Frederick Allen,1890-1954,was there,then, when he wrote "The Lords of Creation","a history of the evolution of financial power in the United States since 1900"[hardback jacket].
Bubbles burst...In Allen's book, orderly mass production is shown to have begun in the mind of the likes of John Pierpont Morgan in 1900-1902 when Henry Ford was producing only 400 cars a year. Even in 1901,during the Northern Pacific[RR] Panic,the New York Times editorialized about the panic as: "an exhibition of the use of vast power for private ends unrestrained by any sense of public responsibility" with contending Wall Street groups acting "...like cowboys on a spree...shooting wildly at each other in entire disregard for the safety of the bystanders".
At about this timeMorgan formed the world's largest corporation, including a heavily-capitalized holding company--the chief engine of 1901's and 2009's financial power. The business man's president,McKinley,was shot in 1901 and the progressive Teddy Roosevelt assumed new presidential powers of market regulation,but with caution so as to not "kill the goose", but, as the comic politico "Mr. Dooley" said: "Th' trusts..are heejous monsthers built up to be th' enlightened intherprise iv th' men that have done so much to advance progress in our beloved country...Read more ›
Most Recent Customer Reviews
Proves that history repeats itself.
Back then they were called the "insiders". Today they are the one percent.
Read this book.
Very accurate information. The truth is always the hardest to digest. It is the pain to go through to free your mind. Nothing is freePublished 12 months ago by s.mansour
This should be read by every American who wants to know how "holding companies" came to dominate the USA and initiate the rise of the Corporatocracy that dominates the US... Read morePublished 15 months ago by Herman
A fascinating look at the events leading up to the great depression - and a warning about current economic events.Published 16 months ago by Stephen E. Cramer
This is a really well written book about the true nature of the financial situation which shaped the recent history of our country. Read morePublished 22 months ago by Victor K