Tycoon Quotes (1 quote)
The long-range trend toward federal regulation, which found its beginnings in the Interstate Commerce Act of 1887 and the Sherman Act of 1890, which was quickened by a large number of measures in the Progressive era, and which has found its consummation in our time, was thus at first the response of a predominantly individualistic public to the uncontrolled and starkly original collectivism of big business. In America the growth of the national state and its regulative power has never been accepted with complacency by any large part of the middle-class public, which has not relaxed its suspicion of authority, and which even now gives repeated evidence of its intense dislike of statism. In our time this growth has been possible only under the stress of great national emergencies, domestic or military, and even then only in the face of continuous resistance from a substantial part of the public. In the Progressive era it was possible only because of widespread and urgent fear of business consolidation and private business authority. Since it has become common in recent years for ideologists of the extreme right to portray the growth of statism as the result of a sinister conspiracy of collectivists inspired by foreign ideologies, it is perhaps worth emphasizing that the first important steps toward the modern organization of society were taken by arch-individualists—the tycoons of the Gilded Age—and that the primitive beginning of modern statism was largely the work of men who were trying to save what they could of the eminently native Yankee values of individualism and enterprise.