Unregulated capitalism cannot thrive,

[elleng]

and the less regulation there is, the more the need for regulation becomes apparent.

Theodore Roosevelt:

First term. Upon taking office, Roosevelt proposed new federal regulation of trusts. As the states had not prevented the growth of what he viewed as harmful trusts, Roosevelt advocated the creation of a Cabinet department designed to regulate corporations engaged in interstate commerce.

REMARKABLE, the FIRST such independent regulatory commission, the Interstate Commerce Commission!

The Interstate Commerce Commission (ICC) was a regulatory agency in the United States created by the Interstate Commerce Act of 1887. The agency's original purpose was to regulate railroads (and later trucking) to ensure fair rates, to eliminate rate discrimination, and to regulate other aspects of common carriers, including interstate bus lines and telephone companies. Congress expanded ICC authority to regulate other modes of commerce beginning in 1906. Throughout the 20th century, several of ICC's authorities were transferred to other federal agencies. The ICC was abolished in 1995, and its remaining functions were transferred to the Surface Transportation Board.

Formed February 4, 1887 (My birthday, and my employer for 20+ years!)

[canetoad]

1. You seem pretty sharp

For someone 137 years old.

[elleng]

2. LOLOL!!!

It's in the family!

Uncle, Dad, and Cousin! Uncle and Dad represented carriers, Cousin worked @ ICC, and then I did!

[wendyb-NC]

3. Wait, what?

To the last sentence of your post.

[elleng]

4. LOLOL!

'Coincidence' that my birthday is Feb 4, as was that of the ICAct; different years, tho.

I worked @ ICC for 20 years, regulated major freight railroad mergers.

[littlemissmartypants]

6. Hahaha! 🎁🎂😜

❤️

[littlemissmartypants]

5. She's apparently...

Been around the sun and the block a few times!!

😉😉

❤️

[Think. Again.]

8. 🏆 (I see what ya did there!)

[Think. Again.]

7. capitalism, if carried out over time to it's inevitable conclusion...

....would result in one person owning everything.

[elleng]

9. If UNREGULATED, that is.

[Think. Again.]

10. Yes, I was referring to the original concept of Capitalism.

[EverHopeful]

11. It hurts my brain that anything other than unregulated, Laissez-faire capitalism

gets shouted down as Socialism/Communism/Marxism and we can't seem to get the point across to enough people that there is a s**t ton of middle ground between rapacious unregulated capitalism and communism.

Good governance that represents actual people and not just "Corporate Persons" really should be possible but I'll admit, I'm beginning to lose hope.

My current earworm is Serf-in USA (my bastardization of the old Beach Boys hit).

Editing to add that the world over, we seem to be seeing the truth of the statement that if you keep enough people miserable enough for long enough they'll go authoritarian.

[Groundhawg]

12. There is no unregulated capitalism anywhere in the world.

[-misanthroptimist]

13. Meaning...

...what, exactly?

[-misanthroptimist]

14. Capitalism is just another right-wing double shuffle...

...of ideas. (They do that frequently)

On the one hand they'll claim that capitalism is competition and that competition results in efficiency and innovation.

On the other hand, their corporations crush competition and frequently stifle real innovation. The result is fewer and fewer choices and more money for them.