Walter Russell Mead Quotes


When Edward Gibbon was writing about the fall of the Roman Empire in the late 18th century, he could argue that transportation hadn't changed since ancient times. An imperial messenger on the Roman roads could get from Rome to London even faster in A.D. 100 than in 1750. But by 1850, and even more obviously today, all of that has changed.


Citations

Mead, Walter Russell. God and Gold: Britain, America, and the Making of the Modern World. Alfred A. Knopf, 2007.

Related Quotes

What Mises says in this quotation is true. What he does not say that by the time the automobile was developed and then the airplane, the Railroad monopoly had impeded and destroyed so many different entities that the governments had cracked down and curtailed much of the ability of the Railroads to exercise monopolist power. If the Railroads had as much power in 1920 as they did in 1870, there probably never would have been a thriving auto industry and the airlines would likely never have succeeded. Mises again exaggerates a basic point that large monopolistic companies and industries often have not been able to stave off new technology and approaches. While true in many cases, the cause is not necessarily fundamental to economics but has sometimes (as with the railroads) been caused by Government regulation and reform. A better example is that the large sail dominated shipping industry was not able to stop the coal fired steam engine ships. Indeed the shipping owners embraced the new technology. The best examples of Mises point occurred after Mises died. For example, Microsoft was not able to prevent Google from dominating many of Microsoft’s positions in the IT world.


Walter Russell Mead
Walter Russell Mead
  • Born: June 12, 1952
  • Nationality: American
  • Profession: Academic

Walter Russell Mead is an American academic. He is the James Clarke Chace Professor of Foreign Affairs and Humanities at Bard College and taught American foreign policy at Yale University. He was also the editor-at-large of The American Interest magazine. Mead is a columnist for The Wall Street Journal and a scholar at the Hudson Institute.