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LECTURE TRANSCRIPTS BASED ON THE
BOOK THAT COULD HAVE ALERTED YOU
OF THE GLOBAL FINANCIAL CRISIS THAT
WALL STREET, ALAN GREENSPAN,
AND THE FEDERAL RESERVE
FAILED TO SEE COMING !
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PROGRESSIVE LITERATURE TO PROVOKE
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For the first time in American History and in the Age of
Turbulence, find out what Alan Greenspan failed to see !

AMERICAN CAPITALISM WITH RESTRICTED FREE SPEECH
Copyright © 2009 by Shivaprasad Srikantia. All rights reserved.
Contains extracts from the book titled AMERICAN CAPITALISM,
AMERICANOMICS, & MULTINATIONAL CORPORATIONS - The concealed
economic and political secrets of capitalism that made America
a superpower in less than one century, by Shiv Srikantia.
PLEASE CLICK ON BOTTOM RIGHT CORNER OF THIS TEXT
WINDOW TO VIEW THIS ESSAY IN FULL SCREEN MODE
Throughout the twentieth century, politicians in America mislead ordinary citizens to believe that no
other nation in the world offered as much freedom for free speech as America. As most American
citizens and politicians lived insular lives, they were unaware that freedom existed to a far greater
degree in most parts of Europe. Many nations in Europe granted communists and radicals the freedom
to express their ideas. However, in a bizarre turn of events, many nations in Eastern Europe fell to
communists. In fact, they fell rather suddenly, like trees whose trunks were cut off by electric
chainsaws.
The events in Eastern Europe sent a wave of panic through American political circles. However, such
events did not invoke shock or alarm in European circles. European citizenry were more open to
socialistic ideologies. In 1905, a labor movement was spearheaded by the Industrial Workers of the
World (IWW) in Chicago. These workers had threatened to defeat capitalism, but their threats were
never taken seriously by Congressmen.
Communists and other political radicals in England were allowed to express their opinions without
drawing ire from their governments and politicians. The English politicians and the monarchy were
willing to tolerate eccentric views to a far greater degree than American politicians. Interestingly
however, the communists themselves did not endorse free speech.
The first social component on a communist government’s agenda was the ruthless suppression of free
speech. In other words, freedom of speech in Europe allowed communists to come to power and then
brutally curtail free speech. It is such things that make state politics absurdly bizarre. Perhaps, modern
industrial societies need a pool of sharp intellectuals to communicate with the common citizens and
dutifully explain such anomalies.
The English bred founding fathers were so big hearted and forgiving that they would have even
allowed communists, subversives, anarchists, and lowly thugs the privilege of free expression.
However, the new generation of immigrants from Germany and Ireland who arrived in America, saw
a need to limit free speech. Thereafter, free speech in America did not allow the free expression of
communistic ideologies or anti-war sentiments. In fact, the CIA compiled the names of nearly 10,000
young citizens who had participated in anti-war protests or peace movements.
In America, those who opposed warfare were labeled as being unpatriotic. On the other hand, those
who supported warfare and nuclear weapons research were called patriots. It was as if warfare and
spiteful military aggression were honorable endeavors. This gives a fair idea of how an industrial
society in the twentieth century could be completely misguided into holding a doctrine that supported
fierce military aggression. Incidentally, during Adolf Hitler’s reign in the last century, the entire
nation of Germany was misguided into embracing barbarism.
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Though the founding fathers of English descent had been in favor of complete freedom, the peril of
communists as expressed by German and Irish Catholic immigrants was not completely unfounded.
After communists came to power in Russia, they began to see Germany as a prime target. Nations in
Europe that had allowed the privilege of free speech to communists eventually fell to communists. In
Europe, communists often misused the free speech doctrine to incite violent revolutions. The German
immigrants from Europe had first hand wisdom of he dangers of free speech. In fact, East Germany
had fallen to communists.
At one time in history, American citizens of German ancestry were accorded high social status in
society. When Adolf Hitler came to power, and the Nazis began engaging in war crimes, there was
a backlash against American citizens of German ancestry. Some German-Americans were Pro-Nazi,
while some others were Anti-Nazi. Many German citizens in America decided to change their last
names to gently conceal their German ancestry. At present, less than 15 percent of Americans have
an English heritage. Nearly 18 percent have a German heritage, while about 15 percent have an Irish
heritage.
As Germans and Irish Catholics were apprehensive, they were prone to be less liberal with free speech
that endorsed communistic ideologies. Tidal waves of immigration were quickly turning America into
a nation of factory workers. The labor unions were becoming very powerful in America. Capitalists
were also threatened by the labor unions. There was a great danger of American labor unions
embracing socialistic ideologies.
The Teamsters became the most powerful labor union in America, and helped members successfully
negotiate wages and working conditions. It is also alleged that funds from the union were being
utilized by Cosa Nostra mobsters and gangsters in Las Vegas. The Teamsters also supported the
Republicans. Until disappearing, a man named Jimmy Hoffa had represented the Teamsters union.
In law enforcement circles, there is a strong suspicion that Jimmy Hoffa was liquidated by the Mafia.
Incidentally, the Mafia seemed to have the know-how for making people disappear. Without a dead
body, it would never be possible for a court of justice to confirm death.
As German and Irish Catholics together made up 33 percent of the new American society, they formed
a single majority to churn up strong anti-communist and anti-socialist sentiments. The American
capitalists and politicians had reasons to worry that the peculiarly interesting ideas embedded within
the framework of socialism or communism would find an appreciative audience in academic circles
where intellectually inclined middle class citizens congregated to exchange ideas. Thomas Hobbes,
an eminent English philosopher expressed the view that intellectuals incited revolutions. He also drew
attention to the fact that university campuses had become epicenters from where serious political
changes were initiated.
In industrialized capitalistic societies, college professors who were overtly anti-establishment were
generally denied tenure and a secure job. Over the years, academicians who were unconditionally
supportive of big businesses, capitalism, imperialism, and the government were honored with tenure.
The others were denigrated and dishonorably discharged. Most college professors came from middle
class society, and tended to be covertly anti-establishment.
Within the broad idea of freedom of speech in a democracy, American college professors were
dissuaded from discussing the specifics of Marxism and Leninism. This is quite understandable, as
events in history point out that the ideologies of socialism, and communism were very intellectually
stimulating. They quickly appealed to the intellectually superior classes. Besides, as over one hundred
American universities were involved in military work, professors with communistic value systems and
allegiance to the Joseph Stalin way of reasoning would be a distraction to the American way of life.
All over the world, there was the danger of communism establishing its roots on college campus
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PROGRESSIVE LITERATURE TO PROVOKE
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coffee bars. This was particularly disturbing to the ruling class of American capitalists because the
American government administration frequently recruited young college graduates. Incidentally, some
officials in the State Department who worked overseas in Vietnam had studied communistic literature
and found it thoroughly fascinating. To the White House administration, this was a red flag.
Senator Joseph McCarthy of Wisconsin began claiming that people with communistic ideas were
working in the American government. In America, with a single stroke of the brush, Senator
McCarthy proved beyond a shadow of doubt that there was a clear limit to free speech in America.
Clearly, America grew up as a nation where communist ideologies were booted out. Communists were
denied entry visas by American immigration authorities. Republican Senator Joseph McCarthy also
alleged that the Department of State had been infiltrated by communists. If true, the infiltration of
communists into the American government machinery could seriously undermine or sabotage its
efforts to curb the spread of communism in other regions of the world.
During his Presidency at the White House, Woodrow Wilson desired to limit the freedom of speech.
He was the principal endorser and enforcer of the Sedition Act of 1918. This act actually challenged
the rights bestowed by the First Amendment in the American constitution. The First Amendment
stated that Congress would have no power to pass laws that obstructed free speech. Woodrow Wilson
was of the opinion that there were certain exceptions, and that the conditions did not apply when the
country was at war. But the American Constitution, in its most pristine form, seemed to allow no
exceptions whatsoever.
In America, an effective mechanism had to be established where college professors in political
science, sociology, and economics would be discouraged from writing books that could make their
provocative views available to mainstream society. Therefore, professors were encouraged to write
papers for publishing in elitist journals that were read only by intellectual recluses. Under these
circumstances, most college professors of political science or sociology were dissuaded from
discussing controversial issues in the classroom. Similarly, most college professors of economics
would be reluctant to discuss unfair trade practices and invite the wrath of big businesses or special
interest groups intent on influencing government policies.
Apart from college campuses, the motion picture industry was a place where intellectuals such as
story writers, artistes, scriptwriters, and authors congregated to exchange views. The motion picture
industry was, therefore, another space threatened by the invasion of communistic ideologies. In fact,
some Congressmen claimed that communists had infiltrated the motion picture industry in Hollywood.
In 1950, an investigation spearheaded by Martin Dies tried to find out the extent of infiltration.
However, there was insufficient evidence to prove the allegations.
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PROGRESSIVE LITERATURE TO PROVOKE
YOUR INTELLIGENCE AND UPLIFT YOUR GENIUS
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