How Business Worked

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#history #reagan #economics

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If you spend long enough looking at financial and economic data you would be forgiven for thinking that almost everything is getting worse all the time…
Our national debt has become an almost unsolvable issue, inequality has reached gilded age levels, union membership has collapsed, wages have stagnated (even as productivity soared), people are saving less of the money they do make, corporate bankruptcies are up over 1,000%, our life expectancy has fallen behind almost every other advanced economy and our incarceration rates have more than quadrupled in the last 40 years alone…
It’s pretty bleak stuff, but if you look closely enough you might notice that these numbers all started moving in the wrong direction at around about the same time…
Depending on who you ask, Ronald Reagan was either one of the best presidents in history or one of the worst presidents in history and it’s that disconnect that makes a candid recount of his achievements and failures so hard to find.
This split of opinions is not helped by the fact that political polarization is at its highest levels since the civil war… ironically another trend that started… right here with the election of Ronald Reagan…
Now no matter what side of the fence you sit on, one thing nobody can take away from him is that more so than perhaps anybody else in modern American history, his marks can clearly be seen in almost any metric you might look at.
For better or worse no other president has altered the course of the economy this significantly… but… it is possible that old ronny gets a lot of credit and/or criticism that he wasn’t directly responsible for.
Before blaming all of our problems on just one man, it’s important to understand the circumstances that made him possible in the first place…
What really compelled so many people to vote against their own best interests and why haven’t we been able to undo these changes in the 40 years since?

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If someone asked you what the largest private company in the world is, you’d probably say Aldi, Robert Bosch or State Farm. Maybe if you’re a bit savvier you might pick something like China’s Tencent or maybe even Huawei and ByteDance. Something with a big name and a singular focus. But if you’re aware of how most big corporations spread their wealth and power behind an international network of companies, then you’d know that Koch Industries is a front runner for ‘largest company in the world’. It has over 120,000 employees and makes $125 billion a year all thanks to its intricately complicated organisation. They have so many tentacles that reach far and wide that it is frequently called the ‘Kochtopus’.

Yet unlike the ones I just listed, it mostly hides in the shadows. At least from the general public. In reality, the influence and power of the Koch Brothers is well known precisely.

Aside from inheriting one of the biggest oil companies from their father, Charles and David Koch (a.k.a the poster boys of the 1%) also run a plethora of think tanks, lobbying groups, and subsidies to make sure their machine keeps ticking, the money keeps churning, and the tax breaks keep coming. So how did this libertarian powerhouse get started in the Soviet Union? And how did family drama help it grow? And what are the loopholes the Koch brothers exploit to keep them rich?

It’s time to learn How History Works as we explain ‘How The Koch Brothers Became The Largest Private Company in The World’.

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#HowHistoryWorks #business #history

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Written By: Sam Ely

Video Created By: Gabriela Gutierrez

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SOURCES
https://www.forbes.com/companies/koch-industries/
https://www.economist.com/united-states/2019/08/29/the-kochtopuss-garden
https://gw.geneanet.org/rikvandorst?lang=en&n=koch&oc=0&p=hotze
https://www.thefamouspeople.com/profiles/fred-c-koch-45831.php
https://timeline.com/the-koch-family-s-nazi-ties-are-more-entrenched-than-you-think-37c645012da0
https://thenewamerican.com/fred-koch-oil-man-against-communism/
https://en.wikipedia.org/wiki/Dark_Money_(book)
https://www.theguardian.com/us-news/2016/jan/17/dark-money-review-nazi-oil-the-koch-brothers-and-a-rightwing-revolution
https://www.vanityfair.com/style/society/2014/05/frederick-koch-brothers
https://www.britannica.com/biography/Charles-and-David-Koch
https://www.nytimes.com/1998/04/28/business/brother-versus-brother-koch-family-s-long-legal-feud-is-headed-for-a-jury.html
https://www.investopedia.com/insights/companies-owned-koch-brothers/
https://www.icij.org/investigations/luxembourg-leaks/new-leak-reveals-luxembourg-tax-deals-disney-koch-brothers-empire/
https://www.youtube.com/watch?v=5pl-QOwJ7JA
https://www.rollingstone.com/politics/politics-news/inside-the-koch-brothers-toxic-empire-164403/
https://www.politico.com/magazine/story/2019/07/22/kochland-excerpt-senate-investigation-oil-theft-native-american-tribes-227412/
https://www.cbsnews.com/news/former-trump-adversaries-join-trump-at-his-mar-a-lago-club/

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#history #economics

Link To Our Other Channel: https://www.youtube.com/c/HowMoneyWorks

Written By: Sam

Video Created By:
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Editor: Cardan
Media Gatherer: Andrea Rivas

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Germany in 1933 was truly one of the most severely crippled economies in modern history.
Unemployment had hit 35%, and a country (that was already badly suffering under the weight of reparations, the loss of industrial infrastructure and hyperinflation) lost an additional 50% of its capital output, exports fell by over 70% and without the resources to fund basic social services malnourishment and homelessness were commonplace all between the years of 1929 and 1933.
The Great Depression was not particularly pleasant for any of the countries swept up in it, but the economic devastation felt by Germany in particular was largely without equal.
But then… things changed…
Adolf Hitler was appointed the Chancellor of Germany on the 30th of January 1933 and then the full fat Fuhrer of Germany a year and a half later.
This was a time period that clearly coincided with a dramatic turnaround in Germany’s economy.
In the years that followed unemployment fell from 35%, to less than 1%... agricultural and industrial output almost doubled, massive infrastructure projects like the Autobahns were commissioned and completed and this was all on top of, well… you know… assembling a military force to take on the rest of Europe…
It is easy to see why armchair historians (and insufferable edgelords) alike will often repeat the factoid that “Hitler was a terrible guy, but at least he fixed the economy!” …
The only problem is…he didn’t…
The German economic miracle may have looked good on paper, but that's a lot easier, when they were the ones who controlled the paper…
Lying with statistics, being in the right place at the right time, “tactically ignoring” some warning signs, not to mention good old fashioned propaganda managed to make things look good for around 6 years…
But by zooming out and understanding the complete historical context, it will hopefully become clear that by 1939 Germany was at most a few years away from collapse even before the bombs started dropping…

John D. Rockefeller was the world’s first bona fide billionaire, meaning that his billion-dollar status wasn’t retroactively calculated with inflation. Instead, he was the first person to own a billion’s worth of assets in real time and that’s even after the Great Depression wiped $10 billion from his bank accounts. But even that barely caused a dent to his pocketbook.

Now, his fortune is spread across six generations and 70 heirs so it’s understandable why he has such a divisive reputation. For some, he was a revolutionary tycoon and trendsetting philanthropist. For others, he’s a puppet master who used his wealth and power to skew the law in his favour. In any case, you don’t make $360 billion without making a few enemies (or friends in high places). Thankfully the rules which helped him change the landscape of business and commerce can be followed by anyone, so let’s examine them to separate the man from the myth.

It’s time to learn How History Works as we explain ‘Why The Rockefellers Never Lost Their Fortune’
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#wealth #History #rockefeller

Link To My Other Channel: https://www.youtube.com/c/HowMoneyWorks

Written By: Sam Ely

Video Created By: Gabriela Gutierrez

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SOURCES
https://www.thoughtco.com/john-d-rockefeller-p2-1779821
https://investguiding-com.ngontinh24.com/article/rockefeller-net-worth-360-billion-2023-family-jay-john-d-rockefeller
https://www.history.com/news/john-d-rockefeller-father-con-man-origins
https://www.youtube.com/watch?v=ptreqGLGabc
https://www.forbes.com/sites/jemimamcevoy/2021/12/21/the-biggest-losers-these-10-billionaires-each-lost-at-least-10-billion-this-year/
https://www.history.co.uk/biographies/john-d-rockefeller
https://www.rockpa.org/guide/rockefellers-legacy-giving/
https://resource.rockarch.org/story/the-general-education-board-1903-1964/
https://www.history.com/topics/early-20th-century-us/john-d-rockefeller
https://www.britannica.com/topic/Standard-Oil
https://www.greanvillepost.com/2020/04/11/a-new-deal-a-great-depression-the-rockefellers-take-charge/
https://brandongaille.com/22-lottery-winners-bankrupt-statistics/

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#history #business #lobbying

Link To Our Other Channel: https://www.youtube.com/c/HowMoneyWorks

Written By: Sam

Video Created By:
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Editor: Cardan
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*** Sources ***

The Memo: https://www.reuters.com/investigates/special-report/assets/usa-courts-secrecy-lobbyist/powell-memo.pdf

https://www.taxpolicycenter.org/statistics/historical-highest-marginal-income-tax-rates

https://news.gallup.com/poll/1597/confidence-institutions.aspx

https://supreme.justia.com/cases/federal/us/412/94/

https://www.opensecrets.org/federal-lobbying

https://www.bls.gov/news.release/union2.htm

https://fred.stlouisfed.org/series/WFRBST01134

https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/

https://fred.stlouisfed.org/series/CPATAX

https://www.epi.org/productivity-pay-gap/

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On the 23rd of August 1971 a well respected lawyer from Virginia mailed a letter to his friend complaining about how hard it was becoming for businesses to get anything done in America under the growing weight of endless new red tape, worker protections and “anti corporate sentiments”.
Now a high end lawyer complaining about the problems his wealthy business clientele paid him to deal with, wouldn’t really be that interesting by itself…
The difference was though, that this letter also included a plan to fix these problems.
Within eight pages, one man outlined a lot of ideas that will probably sound eerily familiar to you today.
He said that in order to put corporate interest back on top they would have to work together to nudge the media, shape minds through education, capture the courts, create think tanks to "tailor the truth” and above all else, convince people that they were shareholders, and that what was good for business was ultimately good for them.
Even this still might not sound that crazy with the benefit of hindsight today, except that both the man that sent this letter, and the man that received it, went onto fill positions where they could execute on this wishlist of corporate interests.
Now this document was never meant to be seen by the general public and even when it was made public by journalists a year later, it didn’t really get that much attention because the ideas it set out simultaneously sounded too radical to be taken seriously and too subtle to have any real impact.
But by exploring the difference between the economy and the business landscape back then, and the same fields today it should become pretty clear to you that through meticulous and consistent execution by some of the most powerful names you've never heard, this letter basically predicted the next half century of politics and the almighty corporations position at the center of it.

Rome wasn’t built in a day but that’s all it took for the civilisation to fall when the last Roman emperor was deposed and companies have it even harder, with only a select few lasting a century or so. According to Forbes, of the businesses that made the Fortune 500 list way back in 1955, only 12 were still around by the year 2014. That’s an 88% drop, the corporate equivalent of an apex predator going extinct in a single generation. In your own lifetime you’ve no doubt seen one-time behemoths of business go bust, broke or get bought out. But even the sloth dodged a few asteroids, ice ages and volcanic eruptions. That’s why a few business lineages beat the odds without ever needing to become giants.

The oldest company in the world is Kongō Gumi, a construction company from Japan who got their start building shrines and temples way back in the year 578. This company’s start was as close to Jesus as you are now to William Shakespeare. However, even that is disputed because it had to be saved from liquidation by another company – not because it was a money-making machine, but because of its cultural significance.

Afterall, is it the same company if the name is the same but the structure is different? What if it changes industry but not the logo? It’s like the old joke of the street broom that never retires because it keeps getting a new brush and handle. But today we’re not going to get bogged down in the philosophical weeds. Instead, we’re going to focus on the main survival strategies that help a business do the one thing it’s not supposed to do: survive.

It’s time to Learn How History Works as we explain ‘How To Make A Business That Will Last 1,000 Years’.

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#HowHistoryWorks #History #business

Link To My Other Channel: https://www.youtube.com/c/HowMoneyWorks

Written By: Sam Ely

Video Created By: Gabriela Gutierrez

Footage Courtesy of: Getty Images

Music Provided By: Epidemic Sound

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Sources
https://www.thoughtco.com/what-was-the-fall-of-rome-112688
https://www.aei.org/carpe-diem/fortune-500-firms-in-1955-vs-2014-89-are-gone-and-were-all-better-off-because-of-that-dynamic-creative-destruction/
https://worksthatwork.com/3/kongo-gumi
https://www.nintendo.co.uk/Hardware/Nintendo-History/Nintendo-History-625945.html
https://simplicable.com/economics/necessity-goods
https://www.youtube.com/watch?v=uhnTuzp7lFk
https://www.oldest.org/technology/companies/
https://www.britannica.com/topic/banana-republic
https://www.youtube.com/watch?v=6xN6IdhTQ7A
https://www.history.com/this-day-in-history/aol-time-warner-formed
https://www.bbc.co.uk/news/business-60898614

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#history #oilcrisis #money

Link To Our Other Channel: https://www.youtube.com/c/HowMoneyWorks

Written By: Sam

Video Created By:
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Editor: Cardan
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- Sources -

https://ourworldindata.org/grapher/fossil-fuel-cons-per-capita

https://data.worldbank.org/indicator/NY.GDP.PCAP.CD

https://www.macrotrends.net/1369/crude-oil-price-history-chart

https://fred.stlouisfed.org/series/FPCPITOTLZGUSA

https://www.epa.gov/automotive-trends/highlights-automotive-trends-report

https://www.eia.gov/dnav/pet/hist/leafhandler.ashx?n=pet&s=mcrfpus2&f=m

https://fred.stlouisfed.org/series/WTISPLC

https://fred.stlouisfed.org/series/FEDFUNDS

https://fred.stlouisfed.org/series/UNRATE

https://web.archive.org/web/20090624150658/http://dieoff.org/page224.htm

https://web.archive.org/web/20091201015034/http://www.time.com/time/magazine/article/0%2C9171%2C946222%2C00.html

https://thesoundingline.com/global-per-capita-oil-production-is-lower-than-before-the-shale-boom/

https://ourworldindata.org/grapher/per-capita-oil

https://yaleclimateconnections.org/2008/11/jimmy-carters-solar-panels/

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In 1979 global oil consumption per capita peaked, and even to this day (almost 50 years later) it has never again fully recovered.
This is an especially shocking statistic when you stop to realise that the average person living on earth today is 500% more economically productive than they were back then.
In plain english what this means is that since the year 1980, our global economy has become 6 times more fuel efficient, which soouunnds great… but cmon, you already know it wasn’t diligent long term planning or environmental conscientiousness that got us here, it was an economic shock so severe that it literally reshaped the global economy.
The oil crisis of the late 70s and early 80s was kicked off by a rapid succession of protests and regime change in Iran which was quickly followed by full scale war across the region.
The fighting destroyed infrastructure and slowed oil exports destined for countries in the west that had become very accustomed to having easy energy on demand.
Prices more than doubled within just a few months, and as people panicked to get their hands on fuel for their cars, rationing was introduced across the world.
But cutting off the circulation of oil also impacted far more than just the morning commute in 1970s landyachts… It was a massive shock to global industry that relied on oil to power their machinery, fuel their trucks and produce their chemicals.
All of these costs were eventually passed along to consumers resulting in some of the highest rates of inflation ever seen in advanced economies in modern history, not to mention the most severe economic downturn between the GFC and the great depression.
The impacts of what was ultimately a short (and not even particularly major) disruption in global oil supplies would also go on to echo throughout the decades that followed directly impacting things like the savings and loan crisis of the early 1990s not to mention the wider global industrial landscape of the world today.
And well yeah… that hinted at perhaps the biggest irony of all in this story… at the height of the greatest oil crisis in history… total oil production was down by less than 5% worldwide, once again proving that learning from history is easy, until there is a profit to be made from ignoring it…

At it's prime, the Weimar Republic wasn't actually a bad place to live, it had a vibrant culture, a rapidly developing economy, an egalitarian political system, and a love of intellectualism that gave rise to world-renowned scholars like Albert Einstein among others.

It's time to learn how history works to find out what a day in the life was like in Weimar era Germany.

#HowHistoryWorks #Weimar #History

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#history #business #money

Link To Our Other Channel: https://www.youtube.com/c/HowMoneyWorks

Written By: Sam

Video Created By:
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I know it might be hard to believe today, but there was a time when a group of wealthy businessmen in America secretly schemed to take control of American politics… The only problem they had was… they weren’t very good at it yet.
The Business Plot, was an attempt by a group of financiers to rally disenfranchised veterans to literally march on Washington and oust then president Franklin Roosevelt to replace him with retired Marine General, Smedley Butler, who would act as a (temporary) dictator to get the country back on track… because that always ends so well…
The only problem with this plan though… was the man that the financiers wanted at the center of it.
It turned out that even though he did not personally believe in a lot of Roosevelt's politics, a highly decorated WW1 Marine General was, uhh well, something of a patriot…
He immediately exposed the plan to reporters and later before congress in a testimony that went… absolutely nowhere… despite being potentially one of the most open conspiracies against America ever, nobody was charged, and the men involved got to live out their lives with their wealth and reputations intact…
Now the details of the story itself are crazy enough, and they can give us all some unique insights into just how unhinged politics really was back then, but beyond that something that is even more interesting is the context that motivated one of the most genuine attempts at a coup d'etat in modern American history.
There is an old saying used by doctors that you keep on poking until you find the spot that hurts…now that might not be board certified medical advice BUT in 1933 there was obviously something that made a group of wealthy businessmen so uneasy that they would risk being charged with treason to fix it…
So what exactly was it that was making wealthy people (and Wall Street in particular) so angry at Roosevelt?
Well there were actually 3 things, and once you understand those, the story of how this all unfolded becomes even more funny (if not a little bit more concerningly relevant to today)...

Have you ever wondered what your life would be like if you lived at a different time in history?

I am sure all of us have at one point or another, but it can be quiet hard to imagine.

How would you live as a regular person? What would your house look like, what would your job be, what food would you eat, what would you do for fun, would you be educated and would your life be more or less stressful than the one you lead today?

The answer to all of these questions can be quite hard to work out. Historians have done much less work researching and reporting on the lives of common people than they have on the lives of a handful of wealthy and powerful individuals.

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#HowHistoryWorks #History

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