An early-20th century politician candidly explains crony capitalism

March 19, 2014 by History in a Hurry

And a hundred years later, most Americans still haven’t caught on to how the political system works (or doesn’t work, as the case may be). …


I believe in the division of labor. You send us to Congress; we pass laws under which you make money … and out of your profits, you further contribute to our campaign funds to send us back again to pass more laws to enable you to make more money.

-Sen. Boies Penrose (R-Pa.), 1896, citing the relationship between his politics and big business.

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-Harry S Truman

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