Garet Garrett (1878–1954)

An isolationist pamphlet in the form of a science fiction novel, written in the 1920’s; and quaint enough to be entertaining merely because of this.

Industrial states that makes themselves dependent on the natural resources of other countries thereby fosters resentment against themselves, the book claims. And also fear within the recipient country of the “umbilical cord” (a metaphor often used) being cut, something presented as explanation for Germany starting WW1.

Resentment would be show more particularly high if, as was at the case with the USA when the book was written, the raw materials delivered were repayment for loans. The book ends with a small Baltic country refusing to honour its debt to the USA in the year 1950, and with Germany supporting this idea, which spreads, and with the USA finally being annihilated by Germany through nitrate in the air above the country being ignited.

Something which sounds a bit backward, with the US surely with much better reasons for starting a war in such a situation? But whatever, the real war arrived 10 years ahead of schedule, Germany was the initiator, and the atomic bomb has some resemblance to the nitrate in the air one.

One thought that must occur to a Norwegian reader, like me, is that you need to be a fairly large country to be self sufficient in everything, but Garrett was of course wilfully US-centred. show less

A philosophical examination of the phenomenon Henry Ford, Garrett seeing in it an exemplary personification of Laissez Faire economics. The book is balanced well with what’s bad and what’s good about it, and there's many interesting anecdotes and good psychological analysis throughout. I thought it an exiting read until near the end, where a very long inventory of the exhibits of the Henry Ford Museum of old America is to present a contrast with what Laissez Faire economics have made of show more America, or to serve some other reason I don’t quite get. show less

Politics, Alternative Histories, Railroads, Cult of Personality, Capitalism, Populism, Economics. - Some have suggested that Ayn Rand got the idea of the Railroad as metaphor for the "motive power" that drives Capitalists/Industrialists to be the true heroes, creators and defenders of civilization as argued in "Atlas Shrugged," but to my knowledge there is no evidence that Rand ever read or knew of this book. I bought and read it as a curiosity after hearing theories of the "Atlas Shrugged" show more connection. The true Rand fan would find it worth his or her while to check out this read. show less

Republished by The Von Mises Institute, 2007. The first beginning of their review:

Here is a treasure in the history of the pro-capitalist novel. Garet Garrett, author of The People's Pottage, is the story of an upstart Wall Street speculator financier, Henry Galt, a shadowy figure who stays out of the limelight as much as possible until he unleashes a plan that had been years in the marking: he uses his extraordinary entrepreneurial talent to acquire control of a failing railroad.

Through show more outstanding management sense, good pricing, excellent service, and overall business savvy, he out competes all the big names in the business, while making a fortune in the process. Garrett has a way of illustrating just what it takes to be a businessman of this sort, and how his mind alone becomes the source of a fantastic revenue stream.

http://www.mises.org/store/product1.aspx?Product_ID=418 show less