Quotation of the Day…

by Don Boudreaux on August 26, 2013

in Crony Capitalism, History, Regulation

… is from page 270 of Gabriel Kolko’s important 1963 volume, The Triumph of Conservatism: A Reinterpretation of American History, 1900-1916:

What the President [Woodrow Wilson] ignored, of course, was that the road had never been charted by him, and that the New Freedom, in its concrete legislative aspects, was little more than the major demands of politically oriented big businessmen.  They had defined the issues, and it was they who managed to provide the direction for change.

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