Saturday, June 04, 2011

Too bad we didn't follow Teddy Roosevelt's advice on unregulated capitalism

http://www.smirkingchimp.com/thread/ted-rall/36567/the-decline-and-fall-of-an-american-icon-teddy-roosevelt-saw-this-coming

EXCERPT: Roosevelt sussed out the perils of unregulated capitalism early on. "The great corporations which we have grown to speak of rather loosely as trusts are the creatures of the State, and the State not only has the right to control them wherever need of such control is shown but it is in duty bound to control them," he said in 1901.

No president since Nixon has followed TR's advice. The result of unbridled corporate corruption is disparity of wealth worse than much of the Third World, and 20 percent unemployment.

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