Genesis No. 9: The “Gilded Age” Era
How Big Capital Privatized Politics
In the 19th century, corruption became industrial. With the rise of oil and rail giants, a new form of abuse was born: political oligarchy.
"Railroad Kings" and Purchased States
Magnates didn’t compete fairly; they simply bought state legislatures. Politicians were gifted stocks and cash in exchange for land and privileges. Laws were written for monopolies, not citizens.
"Tammany Hall" and Political Machines
In New York, “Boss” Tweed controlled immigrant votes in exchange for small favors. Once in power, the “machine” looted the budget through inflated construction costs, stealing amounts equivalent to hundreds of millions today.
Lobbying as a Tool of Control
Business realized: it’s cheaper to keep a senator on a payroll than to pay taxes. US Senators were then openly called “delegates from steel” or “representatives of oil.”
Genesis Conclusion:
The era proved that uncontrolled capital always tries to buy power. “Wild capitalism” showed that a free market cannot exist without independent courts and anti-monopoly authorities.