CAPITALISM Archives | What It Means to Be American

Frank Capra’s Formula for Taming American Capitalism

It’s a Wonderful Life Prescribed Community and Empathy as the Remedy to a Callous Economic System

By Maribel Morey
December 6, 2018

From the Gilded Age and until well into the Great Depression, Americans engaged in one of the most consequential debates in the country’s history: how best to address the economic inequities and societal problems stemming from industrialization, and relatedly, wealth maximization in the private sector.

For some, a bureaucratic state was the answer. As was argued first by the Socialist Party of America in the early 20th century, the state could equalize wealth inequalities. Later, with the Depression, a great …

How Crop Circles Saved the Great Plains

In the 1940s, Farmer Frank Zybach Invented Center Pivot Irrigation and Brought the Dust Bowl Back to Life

By Joe Anderson
September 10, 2018

If you live in the Great Plains, sooner or later you’ll get a question about those “crop circles” that can be observed from airplane windows during flights over the region. The answer is contained in the question: Put simply, they are circles of cropland.

The circular pattern, however, is different from the regular patchwork many people imagine traditional farm fields to be. The shape is the result of the center pivot irrigation, a development of the post-World War II era …

The Anti-Capitalist Woman Who Created Monopoly—Before Others Cashed In

The Beloved Board Game’s Long-Hidden Origin Story Debunks the Myth of Male Lone Genius

By Mary Pilon
March 27, 2017

For decades, the story of Monopoly’s invention was a warm, inspiring, Horatio Alger narrative. A version of it, tucked into countless game boxes, told the tale of an unemployed man, Charles Darrow, who went to his Great Depression-era basement desperate for money to support his family. Tinkering around, he created a board game to remind them of better times, and finding modest success selling it near his home in Philadelphia, Darrow eventually sold it to the American toy and game …

Herbert Hoover’s Hidden Economic Acumen

What an Awful President's Secret Strength Could Teach Today's Financial Leaders About Capitalism

By Charles Rappleye
May 31, 2016

From our nation’s inception, Americans have been a forward-looking people— youthful, optimistic, even revolutionary. Progress has been our byword, and the past has often been dismissed as stodgy, if not rudimentary. Few phrases are so thoroughly dismissive as to pronounce, of a person, a trend, or an idea, as, that, or they, are “history.”

This inclination is rooted in a sense of optimism, and the confidence that we learn as we go. But it can also reflect a degree of hubris, …

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