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.
Getting society to work for the Elite is an idea as old as civilization itself. Ask the enslaved Israelites or the peasants living in medieval feudalism.
Our host, Dr. Antony Sutton gives us an old-timey example of the New Deal and the power of cartels buying laws that benefit themselves while posturing this collusion as good business for everyone: