The Fall and Rise of Laissez-Faire in the United States, 1789-1900
By Burton W. Folsom Jr.
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.
This article will be posted in full nine months after its initial print publication. To read it now, please buy an electronic version of this issue for $2.99 (available on iOS, desktop browsers, Kindle Fire, and Android), or buy a print copy of this issue for $12.00.