"Why is there still so much poverty? One reason is because nature or the devil has made some men imbecile and others lazy and worthless, and neither man nor God can do much for one who will do nothing for himself." - S.C.T. Dodd, architect of the Standard Oil trust
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Dodd's arguments about how small business leads to moral degradation and monopoly is an uplifting force sounds like John K. Galbraith and Richard Hofstadter, as well as chunks of the modern left.pic.twitter.com/KhlPk0jeV2
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Nice to see Marx get his shoutout.
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So current antitrust regulators are doing the opposite of their job. No surprise whatsoever. And it explains a lot.
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Preserving the ability to compete is of utmost importance.pic.twitter.com/f4pc6JCukk
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The New Deal's policies were intended to keep both prices and wages up. Regimes which work primarily to lower prices tend to impoverish people. However, this can be done with big or small business. Sweden's system (before the late 90s changes) was built around large corps.
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big business is, however, more dangerous and must be watched much much more closely and kept weak and poor, or it will eventually buy up the system. (As it did in the US.)
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