The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.NEW YORK ( TheStreet) -- Perhaps the worst crime committed by the corporate oligarchs who now dominate our lives was their successful efforts to rewrite much of "history," and then use the mythology they created to brainwash us. The two most insidious and damaging of the myths they created were that unionization was bad for economies and that regulation was bad for economies. The facts are quite clear here, however. The 1960s marked the absolute zenith in the Western world for both unionization and regulation. Consequently, the 1960s also represented the all-time peak in our standard of living, and the all-time peak in the prosperity of our economies. Since that time (and during the rise of the oligarchs), they have pursued two goals with ruthless tenacity: union genocide and the abolition of all "regulation." Consequently, over the past 40 years we have seen our standard of living plummet across the Western world, while our ever more anemic economies drowned themselves in debt. This particular piece will focus on the irreparable economic damage which the oligarchs have caused with their myth of "over-regulation" -- and the era of deregulation they spawned. The examples of the failure of this policy are practically infinite, as "deregulation mania" has engulfed the tiny minds of our politicians and (supposed) "regulators" throughout the past four decades. One of the first (and most illuminating) examples of deregulation at work was the destruction of the global airlines industry. Because of the massive capital investments required in this sector as part of the continuing costs of doing business, the oligopoly model was a necessary evil in the airline industry. Smaller nations had a single (and often public) airline which represented their entire market, while the largest of markets (the U.S. ) had a handful of companies in its own airline oligopoly. During the 1960s, the airline industry represented a triumph of capitalism: an oligopoly model which was not inherently parasitic and/or self-destructive -- despite the fact that roughly four centuries of capitalist theory has taught us that monopolies and oligopolies are the ultimate evil.