The Real Robber Baron

By Felton Williamson Jt. 4/24/16, Georgians for Constitutional Government

THE REAL “ROBBER BARON?”
The United States Constitution created an economy very close to Capitalism. For the first time in the history of the world the criteria for success was ingenuity and productivity instead of the political power of the Aristocracy.

The entrepreneur created great wealth by:
Invention of new products
Reduction of the labor and material content of products
Reducing distribution cost
Using the economies of scale
New products and services, previously unavailable at any cost, became common place.

An unfortunate consequence of the Entrepreneur’s success was the elimination of the inefficient producer when the entrepreneur reduced prices in pursuit of the “economies of scale”. The Aristocracy used the plight of the inefficient competitor to vilify the Entrepreneur. The Aristocracy coined the phrase “Robber Baron” and used it to justify the use of government force to pursue wealth and power.

The publicity campaign allowed the Aristocracy to slowly change the criteria for success from ingenuity and productivity to political power. By the end of 20th Century, The Entrepreneur was almost extinct. To survive the Entrepreneur had to aid in the Aristocracy’s pursuit of wealth and power!  Only the Entrepreneur with Government support could survive. Bureaucratic regulations could completely eliminate the advantages of innovation and productivity giving the marketing advantage to the political crony. Who paid for this transfer of wealth and power from the Entrepreneur to the Aristocracy? The consumer, you and me!

Who is the real “Robber Baron”, the Aristocracy or the Entrepreneur?

May God have mercy on our souls!

Source: Facebook Georgians for Constitutional Government

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