The Bigness Complex: Industry, Labor, and Government in the American Economy, Second EditionThe Bigness Complex confronts head-on the myth that organizational giantism leads to economic efficiency and well-being in the modern age. On the contrary, it demonstrates how bigness undermines our economic productivity and progress, endangers our democratic freedoms, and exacerbates our economic problems and challenges. This new edition has a thoroughly updated variety of issues, examples, and new developments, including government bailouts of the airline industry; regulation of biotechnology; the fiasco of recent electricity deregulation; and mergers and consolidations in oil, radio, and grocery retailing. The analysis is framed in the timeless context of American distrust of concentrations of power. The authors show how both the left and the right fail to address the central problem of power in formulating their diagnoses and recommendations. The book concludes with an alternative public philosophy as a viable guidepost for public policy toward business in a free-enterprise democracy. |
Contents
| 23 | |
A Historical Perspective | 77 |
Part IV Competition and the Control of Power | 95 |
Part V Government Intervention and Private Power | 201 |
Part VI The Coalescence of Power | 299 |
Notes | 327 |
Index | 379 |
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Common terms and phrases
acquired acquisitions action agreements Airlines American antitrust become benefits billion capital carriers cartel Chrysler combination Commission Committee companies compete competition competitors concentration concerns conglomerate Congress consumers continue corporate cost Court create deal decades decision domestic dominance drug economic effective efficiency evidence example fact Federal field financial firms forces foreign giants hand House important increase independent individual industry innovation interest International Journal labor largest less major manufacturers means ment mergers monopoly nation’s natural oligopoly once operating organization owners percent performance planning players political practices president prevent problem production profits promote protect public policy raise reason recent regulation restraints result Robert rule Senate share social society Standard steel structural substantially technological Three tion trade United vertical Wall Street York
Popular passages
Page 83 - If men were angels, no Government would be necessary. If angels were to govern men, neither external nor internal controls on Government would be necessary. In framing a Government which is to be administered by men over men, the great difficulty lies in this : you must first enable the Government to control the governed ; and in the next place oblige it to control itself.
Page 97 - The Sherman Act was designed to be a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade. It rests on the premise that the unrestrained interaction of competitive forces will yield the best allocation of our economic resources, the lowest prices, the highest quality and the greatest material progress...
Page 81 - Different interests necessarily exist in different classes of citizens. If a majority be united by a common interest, the rights of the minority will be insecure. There are but two methods of providing against this evil: the one, by creating a will in the community independent of the majority— that is, of the society itself; the other, by comprehending in the society so many separate descriptions of citizens as will render an unjust combination of a majority of the whole very improbable, if not...
Page 146 - Commission shall acquire the whole or any part of the assets of another corporation engaged also in commerce, where in any line of commerce in any section of the country, the effect of such acquisition may be substantially to lessen competition, or to tend to create a monopoly.
Page 25 - The growth of a large business is merely a survival of the fittest. . . . The American Beauty rose can be produced in the splendor and fragrance which bring cheer to its beholder only by sacrificing the early buds which grow up around it. This is not an evil tendency in business. It is merely the working out of a law of nature and a law of God.
Page 127 - ... centrifugal and centripetal forces resulting from the right to freely contract was the means by which monopoly would be inevitably prevented if no extraneous or sovereign power imposed it and no right to make unlawful contracts having a monopolistic tendency were permitted. In other words that freedom to contract was the essence of freedom from undue restraint on the right to contract.
Page 82 - The influence of factious leaders may kindle a flame within their particular States but will be unable to spread a general conflagration through the other States.
Page 99 - The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.
Page 123 - Vice is a monster of so frightful mien, As, to be hated, needs but to be seen; Yet seen too oft, familiar with her face, We first endure, then pity, then embrace.