{"id":4626,"date":"2008-09-23T13:18:02","date_gmt":"2008-09-23T20:18:02","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=4626"},"modified":"2008-09-23T13:18:08","modified_gmt":"2008-09-23T20:18:08","slug":"roderick-t-long-the-vast-regulatory-apparatus-that-emerged-in-the-late-19th-and-early-20th-centuries-was-thus-specifically-campaigned-for-by-the-business-community","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4626\/roderick-t-long-the-vast-regulatory-apparatus-that-emerged-in-the-late-19th-and-early-20th-centuries-was-thus-specifically-campaigned-for-by-the-business-community\/","title":{"rendered":"Roderick T. Long: “The vast regulatory apparatus that emerged in the late 19th and early 20th centuries was thus specifically campaigned for by the business community.”"},"content":{"rendered":"

From The Art of the Possible:<\/a><\/p>\n

There’s a popular historical legend that goes like this: Once upon a time (for this is how stories of this kind should begin), back in the 19th century, the United States economy was almost completely unregulated and laissez-faire<\/em>. But then there arose a movement to subject business to regulatory restraint in the interests of workers and consumers, a movement that culminated in the presidencies of Wilson and the two Roosevelts.<\/p>\n

This story comes in both left-wing and right-wing versions, depending on whether the government is seen as heroically rescuing the poor and weak from the rapacious clutches of unrestrained corporate power, or as unfairly imposing burdensome socialistic fetters on peaceful and productive enterprise. But both versions agree on the central narrative: a century of laissez-faire<\/em>, followed by a flurry of anti-business legislation.<\/p>\n

Every part of this story is false. To begin with, there never was anything remotely like a period of laissez-faire<\/em> in American history (at least not if “laissez-faire” means “let the market operate freely” as opposed to “let the rich and powerful help themselves to other people’s property”). The regulatory state was deeply involved from the start, particularly in the banking and currency industries and in the assignment of property titles to land. (Even such land as was not stolen from the natives was seldom appropriated in accordance with any sort of Lockean homesteading principle; instead, vast tracts of unimproved land were simply declared property by barbed wire or legislative fiat.)<\/p>\n

The early republic’s two major political factions – to oversimplify a bit, call them the Jeffersonians (as represented by the Democrats) and the Hamiltonians (as represented successively by the Federalists, Whigs, and Republicans) – disagreed primarily about which<\/em> forms of governmental interference to emphasise. To be sure, both sides paid lip service (and sometimes more than lip service) to the “Principles of ’76,” i.e.<\/em>, the libertarian ideals enshrined in the Declaration of Independence; but each side quickly deviated from those principles when doing so served its economic interest. The Hamiltonians, whose chief base of support was in the urban financial centers of the northeast, called for Read more<\/a><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

From The Art of the Possible: There’s a popular historical legend that goes like this: Once upon a time (for this is how stories of this kind should begin), back in the 19th century, the United States economy was almost completely unregulated and laissez-faire. But then there arose a movement to subject business to regulatory […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29,8,26,6,5],"tags":[],"class_list":{"0":"post-4626","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-group-therapy","7":"category-investment","8":"category-lending","9":"category-marketing","10":"category-real-estate","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":17769,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/17769\/overnight-news-yo-mitch-mcconnell-all-of-those-changed-voter-registrations-including-ours-are-on-you\/","url_meta":{"origin":4626,"position":0},"title":"Overnight News: Yo, Mitch McConnell: All of those changed voter registrations \u2013 including ours \u2013 are on\u00a0you.","author":"Greg Swann","date":"January 24, 2021","format":false,"excerpt":"Kelli Ward was reelected as the Grand Poobah of the Arizona Republican Party last night. Local news with national importance: Against heavy opposition from the Cindy McCain wing of the Deep State, pro-Trump forces retain control of the state party. That argues that we may see electoral reform over the\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"Ya think it's easy?","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2020\/08\/BHBNewTopImage-300x225.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":9482,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/9482\/it-is-time-for-a-new-civil-rights-movement\/","url_meta":{"origin":4626,"position":1},"title":"It is time for a new Civil Rights Movement","author":"Al Lorenz","date":"August 10, 2009","format":false,"excerpt":"After seeing all the fuss over Doug Quance's post about A Governmental Takeover of Real Estate Brokerages, I thought a more thorough answer from my perspective to his question might be appropriate.\u00a0 Last week, a couple of sentences from a superb article by Yaron Brook at the Ayn Rand Center\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12890,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/12890\/sometimes-ya-just-gotta-say-wtf-nutsville\/","url_meta":{"origin":4626,"position":2},"title":"Sometimes ya just gotta say, “WTF-nutsville?”","author":"Brian Brady","date":"August 11, 2010","format":false,"excerpt":"The Obama Adminstration's henchmen are whining about the proliferation of new media , in a Vanity Fair article and I just couldn't resist poking some fun at the irony of their complaints and the foreshadowing of the \"perfect business\" in an economy they \"design\" First, they bitch about the stamina\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2123,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2123\/twittering-on-a-wing-and-a-prayer\/","url_meta":{"origin":4626,"position":3},"title":"Twittering on a wing and a prayer","author":"Teri Lussier","date":"October 30, 2007","format":false,"excerpt":"I Twitter. Therefore I am? Twitter appeals to me, although I'm wondering if that makes me a Twit. It seems so Web 2.0 lite. Blogging has weight. Facebook, LinkedIn, they have some business attire to them. Twitter is just casual Friday, isn't it?","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1338,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1338\/zillowcom-dodges-bullet-in-arizona-amendment-would-permit-consumer-oriented-automated-valuation-models-to-operate-without-regulatory-oversight\/","url_meta":{"origin":4626,"position":4},"title":"Zillow.com dodges bullet in Arizona: Amendment would permit consumer-oriented automated valuation models to operate without regulatory oversight","author":"Greg Swann","date":"April 23, 2007","format":false,"excerpt":"From a press release from the office of Representative Michele Reagan:Arizona homeowners can still access their \"zestimates\" with the preliminary approval Monday of a bill that bars the Arizona Board of Appraisal from torpedoing online businesses that provide property value estimates. An amendment sponsored by Rep. Michele Reagan to SB1291\u2026","rel":"","context":"In "Disintermediation"","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":16134,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/16134\/see-man-alive-live-in-austin-august-17th-19th-at-the-21-convention\/","url_meta":{"origin":4626,"position":5},"title":"See Man Alive! live in Austin, August 17th – 19th, at the 21 Convention.","author":"Greg Swann","date":"July 27, 2012","format":false,"excerpt":"I will be doing an hour-long presentation on my book Man Alive! at the The 21 Convention in Austin. The convention runs from August 17th - 19th, and I will be speaking first-thing in the morning on Saturday, August 18th. My topic? Intellectual self-defense amidst the last-gasp collapse of Rotarian\u2026","rel":"","context":"In "Egoism in Action"","block_context":{"text":"Egoism in Action","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/egoism-in-action\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4626","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=4626"}],"version-history":[{"count":1,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4626\/revisions"}],"predecessor-version":[{"id":4627,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/4626\/revisions\/4627"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=4626"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=4626"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=4626"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}