America Didn’t Build the World’s Largest Economy Through Free Markets

Between 1865 and 1914 America went from a recovering war economy to the largest economy on earth. The mechanism wasn’t free markets — it was tariff walls that protected American manufacturing from British competition, 170 million acres of federal land granted to railroad companies to build the infrastructure that connected markets, and a national banking system that channeled capital into industrial development. America preached free trade to the world while practicing protectionism at home for 50 years. Every major economy that successfully industrialized since followed the exact same playbook. State directed development first. Free market rhetoric after you’ve already won.

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Видео America Didn’t Build the World’s Largest Economy Through Free Markets канала TimeUnfrozen