I would need a fuller explanation of this statement.
Essentially, we established the current American managerial state during the Progressive Era when big businessmen merged with the federal state to tame the "chaos" of free enterprise.
Yes, this is correct.
We can start by looking at the Federal Reserve, government giving to private business the power to print money, then go to the military being use to advance private trade like with Commodore Perry and Japan
http://www.corvalliscommunitypages.com/asia_pacific/japan/perryinjapanall.htm or with "War Is a Racket"
http://en.wikipedia.org/wiki/War_Is_a_Racket How about how government finances business like railroads with
The Pacific Railroad Act of 1862 or how the government is used to closed down private business by looking at Preston Tucker
http://en.wikipedia.org/wiki/Preston_Tucker.
Communism is easy to see as they just takeover and run private businesses overtly and quickly done. Capitalism is a slower processor but the end results is business and government become one. In Capitalism government uses foreign policy and the military to force favorable trade for private businesses, in time certain businesses get subsidized by government like pointed out with the railroads but also war contracts and government contracts and bailouts like the banks and part of the automobile industry for governments to hand tax money over to private business. Looking at Tucker to see how private business can be put out of business by government and look at how the over the air industries are totally under the control of the FCC. Let's look at privatization in say garbage collection in a capitalists' system say that five companies want to collect a cities garbage from residents, the city chooses one company and force the people to pay that company money, but in a free enterprise system the five are allow to compete against one another and the people can choose who they want or don't want.
High level executives move back and forth between government and business as with the Central Banks being private Government banks. What a Capitalist system is a big government big business continuum where government's power to compel is used to force the people either directly by ordering people to pay certain private businesses money or indirectly with tax money to support selected private businesses rather they want to or not. The banking bailout and the automotive bailout are two examples of transferring tax money to private business.
In the end, a capitalist system is where big government leaders are selected by big business and big business leaders are selected by big business and the government eliminates all other businesses. The end result of a capitalist system takes longer to get to, then a communist one but the result is basically the same with the same type people in charge. In a communist system in a White country Jews have disproportional representation same as they are in a capitalist system.
Capitalism and communism are two methods of ending up with the same results--the Jews in control!