[...] the classical liberals, the Jeffersons and the Smiths, were opposing the concentrations of power that they saw around them, like the feudal system and the Church and royalty. They thought that ought to be dissolved. They didn’t see other forms of concentration of power which only developed later. When they did see them, they didn’t like them. Jefferson was a good example. He was strongly opposed to the concentrations of power that he saw developing, and warned that the banking institutions and the industrial corporations which were barely coming into existence in his day would destroy the achievements of the Revolution. [...]