Wall Street and FDR by Anthony C. Sutton

Author:Anthony C. Sutton
Language: eng
Format: epub
Publisher: Rudolf Steiner Press
Published: 2013-04-07T04:00:00+00:00

CHAPTER 7

Roosevelt, Hoover, and the Trade Councils

People of the same trade seldom meet together even for merriment and diversion, but the conversation ends in a conspiracy against the public, or on some contrivance to raise prices.

Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations (London: George Routledge, 1942), p. 102.

The idea of getting society to work for a privileged group within that society originated neither among the corporate socialists in Wall Street, nor in the financial community at large, nor even among the Marxian socialists. In fact, the notion predates our own industrial society, and there is an interesting parallel between the codes of New Deal America (which we shall examine later) and 13th-century trade legislation in England.1

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