(December 6, 2022 at 11:01 am)FlatAssembler Wrote:(December 5, 2022 at 1:37 pm)Jehanne Wrote: Early on in the United States, there was little regulation. Antitrust laws are slightly over a century old now.
Really? I thought anti-trust laws were as old as the constitution. But let's say you are right.
What disasterous consequences did the unregulated capitalism in 19th century US have? It's only when the government started massively intervening in the economy (federal reserve...) that you get the Great Depression. And, even then, life in the semi-capitalist US during the Great Depression was way better than life in the Soviet Union at the time.
It's a myth of history that Karl Marx utterly despised capitalism; in fact, Marx had some admiration for capitalism, its innovation and creativity. As far as some of the 19th-century horrors of unregulated capitalism, just Google what happened to the child laborers in the Belgian Congo who did not meet their quotas.
