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Fakta
Gary Gerstle talks about the journalist who brought down a business empire, when Ida Tarbell went after the power of John D Rockefeller and the Standard Oil Corporation at the start of the twentieth century. Could anyone do the same to Facebook or Amazon today?
Talking Points:
America’s foundational myth is about rebelling against monopolies: a monopoly of power in the hands of the King.
• How does an anti-monopolistic society get dominated by monopolies? • Industrialization and the free economic environment after the Civil War created different conditions. • The Supreme Court interpreted the 14th amendment to mean that corporations are individuals and therefore protected by the Bill of Rights.
Resistance to monopolies reached a peak during the first Gilded Age.
• Some of the resistance was political, but some of it was journalistic. • Journalists known as ‘muckrakers’ sought to expose the practices that produced extraordinary power. • The reports of journalist Ida Tarbell ultimately led to the breakup of Standard Oil of Ohio. • Journalism set the tone for the progressive reform movement.
The election of 1912 was about what to do about the trusts/monopolies.
• Debs wanted to nationalize them; Wilson wanted to break them up; Roosvevelt said regulate them; only Taft carried take a stand. • Roosevelt’s approach ultimately carried the day.
What can the past tell us about today?
• Warren is carrying forward the breakup agenda. • Previous anti-monopoly movements took a long time; don’t expect much too quickly. • But the sentiments haven’t gone away. And the forces that Warren and Sanders have unleashed will continue to percolate.
Mentioned in this Episode:
Dark Money by Jane Mayer
Further Learning:
More on Ida TarbellA Talking Politics Guide to … the Gilded AgeMore on Elizabeth Warren’s plan to break up big tech
And as ever, recommended reading curated by our friends at the LRB can be found here: lrb.co.uk/talking
Release date
Lydbog: 29. december 2019
Fakta
Gary Gerstle talks about the journalist who brought down a business empire, when Ida Tarbell went after the power of John D Rockefeller and the Standard Oil Corporation at the start of the twentieth century. Could anyone do the same to Facebook or Amazon today?
Talking Points:
America’s foundational myth is about rebelling against monopolies: a monopoly of power in the hands of the King.
• How does an anti-monopolistic society get dominated by monopolies? • Industrialization and the free economic environment after the Civil War created different conditions. • The Supreme Court interpreted the 14th amendment to mean that corporations are individuals and therefore protected by the Bill of Rights.
Resistance to monopolies reached a peak during the first Gilded Age.
• Some of the resistance was political, but some of it was journalistic. • Journalists known as ‘muckrakers’ sought to expose the practices that produced extraordinary power. • The reports of journalist Ida Tarbell ultimately led to the breakup of Standard Oil of Ohio. • Journalism set the tone for the progressive reform movement.
The election of 1912 was about what to do about the trusts/monopolies.
• Debs wanted to nationalize them; Wilson wanted to break them up; Roosvevelt said regulate them; only Taft carried take a stand. • Roosevelt’s approach ultimately carried the day.
What can the past tell us about today?
• Warren is carrying forward the breakup agenda. • Previous anti-monopoly movements took a long time; don’t expect much too quickly. • But the sentiments haven’t gone away. And the forces that Warren and Sanders have unleashed will continue to percolate.
Mentioned in this Episode:
Dark Money by Jane Mayer
Further Learning:
More on Ida TarbellA Talking Politics Guide to … the Gilded AgeMore on Elizabeth Warren’s plan to break up big tech
And as ever, recommended reading curated by our friends at the LRB can be found here: lrb.co.uk/talking
Release date
Lydbog: 29. december 2019
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