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The Myth of the Robber Barons

MARCH 29, 2011

Filed Under : Liberty

Hillsdale College history professor Burton Folsom describes the role of key entrepreneurs in the economic growth of the United States from 1850 to 1910. This lecture was given to students attending 2010 History and Liberty in Atlanta, Ga.

For the audio file click here.

The Myth of Robber Barons from FEE on Vimeo.

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Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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