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How Capitalism Saved America: The Untold History of Our Country, from the Pilgrims to the Present Paperback – August 23, 2005

by Thomas J. Dilorenzo (Author)

107 customer reviews

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Here’s the real history of our country. How Capitalism Saved America explodes the myths spun by Michael Moore, the liberal media, Hollywood, academia, and the rest of the anticapitalist establishment.

Whether it’s Michael Moore or the New York Times, Hollywood or academia, a growing segment in America is waging a war on capitalism. We hear that greedy plutocrats exploit the American public; that capitalism harms consumers, the working class, and the environment; that the government needs to rein in capitalism; and on and on. Anticapitalist critiques have only grown more fevered in the wake of corporate scandals like Enron and WorldCom. Indeed, the 2004 presidential campaign has brought frequent calls to re-regulate the American economy.

But the anticapitalist arguments are pure bunk, as Thomas J. DiLorenzo reveals in How Capitalism Saved America. DiLorenzo, a professor of economics, shows how capitalism has made America the most prosperous nation on earth—and how the sort of government regulation that politicians and pundits endorse has hindered economic growth, caused higher unemployment, raised prices, and created many other problems. He propels the reader along with a fresh and compelling look at critical events in American history—covering everything from the Pilgrims to Bill Gates.

And just as he did in his last book, The Real Lincoln, DiLorenzo explodes numerous myths that have become conventional wisdom. How Capitalism Saved America reveals:

• How the introduction of a capitalist system saved the Pilgrims from starvation
• How the American Revolution was in large part a revolt against Britain’s stifling economic controls
• How the so-called robber barons actually improved the lives of millions of Americans by providing newer and better products at lower prices
• How the New Deal made the Great Depression worse
• How deregulation got this country out of the energy crisis of the 1970s—and was not the cause of recent blackouts in California and the Northeast
• And much more

How Capitalism Saved America is popular history at its explosive best.

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Editorial Reviews

Review

Finalist for Laissez Faire Books’ 2005 Lysander Spooner Award for Advancing the Literature of Liberty

“Thank heaven then for economist Tom DiLorenzo . . . a modern-day Adam Smith.” —Washington Times

“A brilliant exposé.” —National Post (Canada)

“A welcome response to the barrage of uninformed attacks on the private enterprise system.” —Murray Weidenbaum, former chairman of the Council of Economic Advisers

“Argues provocatively that FDR’s policies made the Depression worse in the 1930s.” —Larry Kudlow, CNBC’s Kudlow & Cramer

“Provides a great service by reminding everyone of how integral free markets have been to our liberty and advancement.” —Bernard Chapin, lewrockwell.com

“Consistent and well reasoned . . . Highly recommended.” —Library Journal

“Should be required reading in every course on American history.” —George Reisman, professor of economics, Pepperdine University

“All those interested in exposing the fallacies of statism and defending the free market should buy at least two copies of this book—one for themselves and one for their congressman.” —The Honorable Ron Paul, U.S. House of Representatives

“May this book—that rare combination of great learning and great writing—be read by every American who cares about our future as a free society.” —Llewellyn H. Rockwell Jr.

From the Inside Flap

Whether it's Michael Moore or the New York Times, Hollywood or academia, a growing segment in America is waging a war on capitalism. We hear that greedy plutocrats exploit the American public; that capitalism harms consumers, the working class, and the environment; that the government needs to rein in capitalism; and on and on. Anticapitalist critiques have only grown more fevered in the wake of corporate scandals like Enron and WorldCom. Indeed, the 2004 presidential campaign has brought frequent calls to re-regulate the American economy.
But the anticapitalist arguments are pure bunk, as Thomas J. DiLorenzo reveals in How Capitalism Saved America. DiLorenzo, a professor of economics, shows how capitalism has made America the most prosperous nation on earth--and how the sort of government regulation that politicians and pundits endorse has hindered economic growth, caused higher unemployment, raised prices, and created many other problems. He propels the reader along with a fresh and compelling look at critical events in American history--covering everything from the Pilgrims to Bill Gates.
And just as he did in his last book, The Real Lincoln, DiLorenzo explodes numerous myths that have become conventional wisdom. How Capitalism Saved America reveals:
- How the introduction of a capitalist system saved the Pilgrims from starvation
- How the American Revolution was in large part a revolt against Britain's stifling economic controls
- How the so-called robber barons actually improved the lives of millions of Americans by providing newer and better products at lower prices
- How the New Deal made the Great Depression worse
- How deregulation got this country outof the energy crisis of the 1970s--and was not the cause of recent blackouts in California and the Northeast
- And much more
How Capitalism Saved America is popular history at its explosive best.

"From the Hardcover edition.

See all Editorial Reviews

Product details

Paperback: 304 pages
Publisher: Crown Forum (August 23, 2005)
Language: English
ISBN-10: 1400083311
ISBN-13: 978-1400083312
Product Dimensions: 5.2 x 0.7 x 8 inches
Shipping Weight: 7.2 ounces (View shipping rates and policies)
Average Customer Review: 107 customer reviews
Amazon Best Sellers Rank: #406,508 in Books (See Top 100 in Books)
- #296 in Books > Business & Money > Economics > Free Enterprise
- #1319 in Books > Business & Money > Biography & History > Economic History
- #1334 in Books > Politics & Social Sciences > Politics & Government > Ideologies & Doctrines > Conservatism & Liberalism

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Douglas Goldstein

Anyone who believes Government is the answer should read this book

September 11, 2017

Format: Kindle EditionVerified Purchase

Although Thomas Dilorenzo’s arguments are very compelling and the author has a very good sense of American history, many questions still remain after reading “How Capitalism Saved America.” For example, he explains that the "free rider" problem of privatizing the building of streets, railroads, and canals is a myth. The presumption is that people, unless forced by the government, would not put up money to build roads. It's a reasonable argument, the author explains, but has been proven wrong in practice. He provides a great deal of evidence, pointing out that in the early 1800s, thousands of turnpikes were built with private money, and hundreds of companies were in the business of road building. It’s a great point, demonstrating that not one or two, but thousands of roads were constructed through private enterprise. However, since that time two hundred years ago, millions of miles of roads were built by governments. Although the government construction of roads surely included a healthy dose of bribery and inefficiency, anyone today can drive from New York to California anytime. Who built all of that? Governments… with taxpayer money. Would that have happened if the design, planning, and construction was left to private interests? I'm not really sure. Moreover, whose land would the roads have been built on? I am sure that the author has answers to these questions, but I would have liked them explained further in a contemporary framework rather than simply relating to what happened hundreds of years ago.
Though I have questions about some of Dilorenzo’s theories, I was not turned off by them. To the contrary, I finished “How Capitalism Saved America” and then immediately bought his book, “The Problem with Socialism.” I highly recommend both books. (See my upcoming review of “The Problem with Socialism.”)

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M. Heiss

Free Markets

September 29, 2017

Format: PaperbackVerified Purchase

It's Free Markets. Not capitalism.

Free Markets are cooperative. Fair exchange. Non-coerced. Suppliers competing for customers. Productive. Creative. Choice. Trade offs. Growing the pie. Protagonistic.

Capitalism is a pejorative dreamed up by Marx and applied to a system Marx wanted to crush. Competitive. Compulsory. Dog eat dog. Exploitative. Fixed pie, zero sum. Antagonistic. That does not in any way describe the economic system of free people.

I consistently teach Free Markets. I shun the word capitalism.

But... this book is exactly right for teaching how Free Markets built and saved America. So I use it for high school history. Especially good for the history of the "Progressive movement".

Ch 6: How Free Markets enriched the working class
Ch 7: The truth about "robber barons" (captains of industry)
Ch 8: Antitrust myths
Ch 10: How the New Deal crippled Free markets

Free markets. Free markets.

DiLorenzo gets everything right. Using this for instruction, I first do a great deal on the totalitarian projects of the 20th century, then I do economics, and then this book.

Teens love this book.

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Jamie D.

Doubts about Capitalism? Read this book!

June 7, 2016

Format: PaperbackVerified Purchase

I bought this book as it was required for a class. I was very skeptical of capitalism up to this point, this book really changed my viewpoint. I get into arguments and discussion all the time with people who are against capitalism. With the information I gained form this book, I am able to provide so many examples that most of the time, there are no counter arguments even possible. I recommend anyone to read this book because you Lear a ton of information about past and present events which support capitalism.

4 people found this helpful5 people found this helpful

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Kevin

My Favorite Book on Economic History

February 2, 2014

Format: PaperbackVerified Purchase

Let me begin by saying that I have been looking forward to reading Dr. Thomas DiLorenzo's "How Capitalism Saved America" for quite some time. DiLorenzo is a scholar who is excellent at presenting material for the lay reader in an easy to digest fashion. Simply put, he is a very interesting author to read and one of the best modern economic historians. Perhaps one of the greatest assets this book provides is that it is both revealing and intellectually fortifying. I will be citing quotations from this book in addition to material Dr. DiLorenzo cites in his bibliography. Almost every reader has read a book which was not moving and became relegated to the lower levels of our library. This is not one of those. This is a factually-dense, information-rich reservoir for those who thirst for truth. Among the most original and enlightening chapters were Chapters 3 (How Capitalism Saved the Pilgrims), 4 (America's Capitalist Revolt), 5 (Highways of Capitalism [This deals with privatized mediums of transportation such as roads]), 6 (How Capitalism Enriched the Working Class), 7 (The Truth About the "Robber Barons"), 8 (Antitrust Myths), 9 (Did Capitalism Cause the Great Depression), 10 (How the New Deal Crippled Capitalism). Highly recommended reading.

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Robert G. Shaver

Capital

June 23, 2015

Format: Kindle EditionVerified Purchase

How Capitalism Saved America This book reflects on Laissez-faire method of doing business and why it works. It starts with Adam Smith vs Alexander Hamilton and our present Mercantilism system. It reviews true Capitalists Rockefeller, Vanderbilt, Hill and others who contributed to the nation’s success. It is critical of government subsidized business and control. It reviews the failure government intervention i.e. railroads, transportation, wage control, etc. The author make a good argument that government is creating more trouble by setting up controls than letting the free market regulate its self through supply and demand. A must read book for those interested economy and the “isms”

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Machinery's Handbook

Great polemic, no quite so great as true history.

May 22, 2015

Format: PaperbackVerified Purchase

Interesting read, but DiLorenzo is more of a polemicist than an historian. That coming from an old man (me) who dearly wishes that Lincoln, Wilson, Frankiln Destroyer Roosevelt, and Lyndon Johnson had all been put to the stable bucket the day they were born. But to be fair, his history is still more realistic than what the neo-Stalinist wing of my generation is feeding my grandkids in schools today.

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