This chapter explores the economic landscape in late 19th century America, highlighting the dominance of capitalism that favored the ownership class over workers, leading to immense wealth accumulation by a few individuals like John Rockefeller. It delves into the temporary peak of capitalism, known as the '30 glorious years,' and how various individuals have influenced and shaped the economic system over time, culminating in the Progressive Era and significant reforms that aimed to spread prosperity among the population.
How the balance of power shifted, for a time, in the decades after World War II, and led to a better kind of capitalism – if you think prosperity being broadly shared is a good thing.
By John Biewen, with co-host Ellen McGirt. Interviews with Eric Rauchway and Brad DeLong. Thanks to the Studs Terkel Archive at WFMT. Story editor: Loretta Williams. Music by Michelle Osis, Lilli Haydn, Chris Westlake, Alex Symcox, and Goodnight, Lucas. Music consulting by Joe Augustine of Narrative Music. "Capitalism” is a production of the Kenan Institute for Ethics at Duke University, in partnership with Imperative 21.