"Unable to maintain their government-granted monopoly, the powerful railroad interests turned to government to do the regulating and price-fixing which they were unable to do themselves. In fact, the pressure that induced Congress to enact the Interstate Commerce Act of 1887 did not come from reformers bemoaning abuses by the powerful railroad interests; it came from the railroad interests themselves, asking Congress to shield them against the harsh winds of competition."
by:
Dan Smoot
[Howard Drummond Smoot] (1913-2003) former supervising member of the FBI headquarters staff in the Washington Office and one of the first to research and publish on the activities of the Council on Foreign Relations
Source:
The Business End Of Government (1973)
Rating:
 
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Reader comments about this quote:
Alien to We The People, government despot-granted monopolies are always a bane to supply & demand and, otherwise fiscal law. Energy, funny money, publicly traded corporations, etc. are all protected monopolies detrimental to competition, free trade, capitalism, and the betterment of individual and society's products and services. First, oil's development and society's dependence thereon was protected from other emerging energy development (it still is) for the Rockefeller types. Then once established, won't allow exploitation of known reserves, such as are in the Continental mountain west, to save the nation's economy. Second, prosecution of those offering certain barter units or coining gold and silver tokens within the US, as they may compete with the un-fiscally lawful fiat monopoly. Third, trusts and other legal entities that can be adapted for public trading are conceptually at law, outside government scrutiny, thus not allowed to compete with publicly traded extensions of the state (corporations). Forth - on and, on and on, etc., etc., etc. . . .
 -- Mike, Norwalk     
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    And the left calls for more Government Regulation in the belief that free market capitalism doesn't work, or that it is inherently evil. fact is, too much Government Regulation is to blame by its granting of monopolies.
     -- J Carlton, Calgary     
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    J and Mike summed it up very well.
     -- jim k, Austin,Tx     
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    we now know where 'being railroaded' comes from....
     -- Abby     
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