To Nikita Khrushchev U.S. capitalism is still, in his words, the capitalism "described by Karl Marx" in the igth century. In an attempt to set him straight, Ambassador to the U.N. Henry Cabot Lodge, before the Economic Club of New York last week, updated Khrushchev's tired old Marxist theory in more modern terms. Excerpts:
IF robber baron is the definition of capitalist, then we are not capitalists at all. In fact, on July 2, 1890, we declared war on monopoly capitalism when the Sherman Antitrust Act became law. That law is still being actively enforced.
There are, for example, 14 million Americans who...
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