The Fall and Rise of Laissez-Faire in the United States, 1789-1900
By Burton W. Folsom, Jr.
This article appeared in the Winter 2019 issue of The Independent Review
Corporatist cronyism didnt come to the United States gradually or inevitably, as Munger and Villareal-Diaz imply. It came during George Washingtons presidency, endured until the relatively laissez-faire period of the Gilded Age, and returned with a vengeance when the Progressive Era inaugurated a new reign of interventionism and cronyism.
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