How Capitalism Saved America: The Untold History of Our Country, from the Pilgrims to the Present
Don't be misled by this book's subtitle: rather than a work of history, it's a work of ideology cross-dressing as history. Its value lies in its lively polemic rather than its claims to novelty or historical depth. DiLorenzo (The Real Lincoln) aims to counteract what he believes is the "anticapitalist mentality" among other historians by showing how capitalism has permeated American history since the Pilgrims, how the role of marketplace entrepreneurs has been lost to historical view, and how all government regulation has been injurious to the national welfare. These arguments he presents via brief sketches of some of the major eras of the nation's history. He argues, for example, that the monopolistic robber barons are incorrectly made to stand in for their era's other forgotten great entrepreneurs, and that it wasn't the excesses of the 1920s that caused the Great Depression but rather Herbert Hoover's mild pre-crash attempts at government regulation. What's beguiling is DiLorenzo's single-mindedness. The book ought to prove bracing for those similarly minded and to those of contrary views whose arguments have grown flaccid for want of energetic attack. But the author's notes and bibliography give the game away. There are scarcely any references to works of history. Instead, he cites the great theorists of capitalism, such as Ludwig von Mises and Friedrich Hayek. There's nothing wrong with that, but it leads one to suspect that the book aims less to enrich historical understanding than to score points.(On sale Aug. 10)Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.