This episode is from the WNYC archives. It may contain language which is no longer politically or socially appropriate.
10th annual convocation of the Fund for the Republic Morning.
The sessions theme is the "Concentration of private power" and how these powers effect the economy and the society.
Speakers include: Adolf A. Berle and Walter Reuther; comment by economists: Arthur Burns and Robert Heilbroner. Secretary Willard Wirtz also speaks.
Berle speaks first, following a very impressive introduction. He believes in private power and advocates greater control. He speaks about the past, when private power was held by either the state or the church - this changed in the late 18th century. Colonial life in the United States created a large nation of small land owners. Discussion of free market. Description of the industrial market running as a free market and eventually as a monopoly. The economy then became an oligopoly. Mid-20th century sees the government oversight increasing.
Also makes references to political rights to vote, assemble and other protections of the democratic process.
Next, Walter Reuther speaks. He speaks of the challenges of peace. Discusses current cold war climate. Discussion of improvement of society through economic planning. Discusses the complex powers of the concentration of private wealth.
Discussion of unions - discusses irrationality of collective bargaining.
Other speakers respond to these talks.
Audio courtesy of the NYC Municipal Archives WNYC Collection
WNYC archives id: 71839
Municipal archives id: T125