4.8 • 2.2K Ratings
🗓️ 5 January 2018
⏱️ 46 minutes
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The U.S. Constitution doesn’t mention corporations once. But if you want to talk about federal regulations, you have to talk about private enterprise, too. They’re yin and yang, intertwined over centuries, locked in an eternal struggle. This week, we’re tracing that history back to the 13 colonies, when corporations helped to create the basic framework of our democracy. And we hear how railroad companies, the country’s first big homegrown corporations, regulated the people before the people regulated them.
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0:30.8 | So where are we right now? We are in front of the Federal Trade Commission building. |
0:37.3 | The FTC is one of the oldest regulatory agencies that we have. A few months ago, |
0:45.8 | I was in Washington, DC with a woman named Reena Steinser. She's a law professor at the University |
0:51.1 | of Maryland, and I don't think she'd take offense at this. She is a passionate, unapologetic nerd |
0:58.0 | when it comes to federal regulations. I asked her to take me on a sort of regulatory tour of the |
1:04.0 | capital, like the equivalent of the tour you might do in LA, where I'm from, to see the landmarks |
1:09.3 | that embody Hollywood. Like a Hollywood sign, the piece of cement with all the movie star handprints. |
1:14.7 | I wanted her to show me the landmarks that embody federal regulations. I knew it wouldn't be quite |
1:19.9 | as sexy, but then she takes me to this one spot that she says really embodies the story of regulations |
1:27.7 | in our country, and it is kind of sexy. And we're standing in front of Marveless statue, |
1:34.9 | a horse bigger than you can imagine with huge body and a long tail. Really muscular, really |
1:45.4 | muscular, very powerful. And there is a man who is equally robust with rippling muscles. |
1:53.6 | He's shirtless, and he is trying to control the horse, and what the statue stands for, the horse's |
2:02.3 | industry. The horse is industry, and the man is, and the man, the man is, well, man, we the people, |
2:11.5 | and the government that represents us. In the statue, the man and the horse are intertwined and |
2:18.1 | entangled with each other. They're really struggling. So the eternal struggle between |
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