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The Historic Failure of the Chicago School of Antitrust Mark Glick
Antitrust and Economic History: The Historic Failure of the Chicago School of Antitrust Mark Glick1 Working Paper No. 95 May 2019 ABSTRACT This paper presents an historical analysis of the antitrust laws. Its central contention is that the history of antitrust can only be understood in light of U.S. economic history and the succession of dominant economic policy regimes that punctuated that history. The antitrust laws and a subset of other related policies have historically focused on the negative consequences resulting from the rise, expansion, and dominance of big business. Antitrust specifically uses competition as its tool to address these problems. The paper traces the evolution of the emergence, growth and expansion of big business over six economic eras: the Gilded Age, the Progressive Era, the New Deal, the post-World War II Era, the 1970s, and the era of neoliberalism. It considers three policy regimes: laissez-faire during the Gilded Age and the Progressive Era, the New Deal, policy regime from the Depression through the early 1970s, and the neoliberal policy regime that dominates today and includes the Chicago School of antitrust. The principal conclusion of the paper is that the activist antitrust policies associated with the New Deal that existed from the late 1 Professor, Department of Economics, University of Utah. Email: [email protected]. I would like to thank members of the University of Utah Competition Group, Catherine Ruetschlin, Marshall Steinbaum, and Ted Tatos for their help and input. I also benefited from suggestions and guidance from Gérard Duménil’s 2019 seminar on economic history at the University of Utah. -
John W. Foster, Soldier and Politician by DANIELW
John W. Foster, Soldier and Politician By DANIELW. SNEPP Indiana’s sons have occupied a number of important gov- ernmental offices in Washington and diplomatic posts abroad. No Hoosier, however, has served his country longer or more faithfully than John Watson Foster. His public life spans a half century of diplomatic conflict in which the United States rose to the undisputed position of a world power. In the pres- ent generation, few, except students of diplomatic history and international law, have heard the name of John W. Foster or read his scholarly works on diplomacy and world peace. No published biography has yet recorded his achievements and no monument has been raised to perpetuate his memory. Nevertheless this obscure man was regarded by Ambassador James Bryce as “the most distinguished diplomat of our time,” and by Secretary of State Frelinghuysen as the most valuable man in foreign service in his day. Mr. Foster represented the United States upon more different missions of first rank than any other person, and was accordingly called by Chauncey M. DePew, “the handy-man of the State Department.” Andrew Johnson excepted, Foster served in one capacity or another under every president from Abraham Lincoln to Theodore Roosevelt. Diplomacy was to Foster not merely a calling, it was a profession. This article, however, is concerned only with that part of his life spent in Indiana. Foster’s English ancestry may be traced to the hardy tradespeople on his mother’s side and to the staunch yeoman class on his father’s side. The strain of the depression which followed on the heels of the Napoleonic Wars in England, fell most severely upon the middle class, great numbers of whom migrated to America. -
CONGRESSIONAL Recoltd-HOUSE. DECEMBER 3
. 2 CONGRESSIONAL RECOltD-HOUSE. DECEMBER 3, .Ma.ssa;chusetts-Henry L. Dawes and George F. Hoar. ARKANSAS. Clifton R. Breckinridge. John H. Rogers. JJ!ichigan-Omar D. Conger and Thomas W. Palmer. Poindexter Dunn. Samuel W. Peel. Minnesota-Samuel J. R. McMillan and Dwight 1\I. Sabin. James K. Jones. Mi.ssissippi=-James z. George and Lucius Q. C. Lamar. CALIFORNIA. Missouri-Francis M. Cockrell and George G. Vest. Charles A. Sumner. James H. Budd. John R. Glascock. Barclay Henley. Nebraska-Charles F. l\Ianderson and Charles H. VanWyck. WilliamS. Rosecrans. Pleasant B. Tully. Nevada-James G. Fair. New Hampshire-Henry W. Blair and Austin F. Pike. COLORADO. New Jersey-John R. McPherson and William J. Sewell. James B. Belford. New York-Elbridge G. Lapham and Warner Miller. CONNECTICUT. North Carolina-Matt. W. Ransom and Zebulon B. Vance. William W. Eaton. John T. Wait. Ohio-George H. Pendleton and John Sherman. Charles L. 1\fit.<Jhell. Edward W. Seymour. Oregon-Joseph N. Dolph and James H. Slater. DEL.AW .ARE. Pennsylvmtia-J ohn I. Mitchell. Charles B. Lore. Rhode Jslan~Nelson W. Aldrich. FLORIDA.. Sottth Camlina-M. C. Butler ~d Wade Hampton. Robert H. M. Davidson. Horatio Bisbee, jr. Tennessee-Isham G. Harris and Howell E. Jaekson. GEORGIA. Texas-Richard Coke and Sam. Bell Maxey. Thomas Hardeman. James H. Blount. Vermont-George F. Edmunds and Justin S. Morrill. John C. Nicholls. Judson C. Clements. Virginia-William .Mahone and Harrison H. Riddleberger. · Henry G. Turner. Seaborn Reese. N. Charles F. Crisp. Allen D. Candler. West Virginia-Johnson Camden and John E. -
George Edmunds of Vermont: Republican Half-Breed
As much as any U. S. Senator of the post-Civil War genera tion, George F. Edmunds represents the character, ideas, and influence of a particular wing of the Republican Party.... George Edmunds of Vermont: Republican Half-Breed By RICHARD E. WELCH, JR. AMONG the major New England politicians of the post-Civil War J-\. generation, one of the more elusive is George F. Edmunds of Vermont. A United States senator torm 1866 to 1891, he was recognized by leaders of both parties as one of the hardest workers iri the senate and perhaps its ablest constitutional lawyer. After his retirement from politics, he was a highly successful corporation lawyer, a prominent spokesman for the Anti-Imperialist movement of 1898-1900, and a family monarch until his death in 1919 at the age of ninety-one. His was a full and an active life, but it has received little attention from historians. There exists no biography of Edmunds, nor even a biographi cal notice later than the publication of the Dictionary of American Biography in 1931. He has faded into the shadow-land reserved for the footnote figures of American history. One reason for this is the absence of a collection of "Edmunds Papers." There is a strong correlation between the size of a man's documentary legacy and the fascination he holds for historians. Ed munds left orders that all his personal papers be burned upon his death, and they were. There are, of course, other possible reasons for Edmunds' neglect by the historical profession. The biographer who seeks a colorful subject would not find Edmunds attractive. -
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FORTY-NINTH CONGRESS MARCH 4, 1885, TO MARCH 3, 1887 FIRST SESSION—December 7, 1885, to August 5, 1886 SECOND SESSION—December 6, 1886, to March 3, 1887 SPECIAL SESSION OF THE SENATE—March 4, 1885, to April 2, 1885 VICE PRESIDENT OF THE UNITED STATES—THOMAS A. HENDRICKS, 1 of Indiana PRESIDENT PRO TEMPORE OF THE SENATE—JOHN SHERMAN, 2 of Ohio; JOHN J. INGALLS, 3 of Kansas SECRETARY OF THE SENATE—ANSON G. MCCOOK, of New York SERGEANT AT ARMS OF THE SENATE—WILLIAM P. CANADAY, of North Carolina SPEAKER OF THE HOUSE OF REPRESENTATIVES—JOHN G. CARLISLE, 4 of Kentucky CLERK OF THE HOUSE—JOHN B. CLARK, JR., 5 of Missouri SERGEANT AT ARMS OF THE HOUSE—JOHN P. LEEDOM, of Ohio DOORKEEPER OF THE HOUSE—SAMUEL DONALDSON, of Tennessee POSTMASTER OF THE HOUSE—LYCURGUS DALTON ALABAMA Samuel W. Peel, Bentonville Joseph R. Hawley, Hartford SENATORS CALIFORNIA REPRESENTATIVES John T. Morgan, Selma SENATORS John R. Buck, Hartford James L. Pugh, Eufaula John F. Miller, 9 San Francisco Charles L. Mitchell, New Haven REPRESENTATIVES George Hearst, 10 San Francisco John T. Wait, Norwich James T. Jones, Demopolis Abram P. Williams, 11 San Francisco Edward W. Seymour, Litchfield Hilary A. Herbert, Montgomery Leland Stanford, San Francisco William C. Oates, Abbeville REPRESENTATIVES DELAWARE Alexander C. Davidson, Uniontown Barclay Henley, Santa Rosa SENATORS Thomas W. Sadler, Prattville J. A. Louttit, Stockton Joseph McKenna, Suisun Thomas F. Bayard, 12 Wilmington John M. Martin, Tuscaloosa 13 William H. Forney, Jacksonville W. W. Morrow, San Francisco George Gray, New Castle Joseph Wheeler, Wheeler Charles N. -
Presidential Handwriting, 1/5/1977 (1)” of the Presidential Handwriting File at the Gerald R
The original documents are located in Box C54, folder “Presidential Handwriting, 1/5/1977 (1)” of the Presidential Handwriting File at the Gerald R. Ford Presidential Library. Copyright Notice The copyright law of the United States (Title 17, United States Code) governs the making of photocopies or other reproductions of copyrighted material. Gerald Ford donated to the United States of America his copyrights in all of his unpublished writings in National Archives collections. Works prepared by U.S. Government employees as part of their official duties are in the public domain. The copyrights to materials written by other individuals or organizations are presumed to remain with them. If you think any of the information displayed in the PDF is subject to a valid copyright claim, please contact the Gerald R. Ford Presidential Library. Digitized from Box C54 of The Presidential Handwriting File at the Gerald R. Ford Presidential Library THE WHITE HOUSE WASHINGTON , MEDAL OF FREEDOM CANDIDATES Art & Architecture v Alexander Calder* '~Georgia O'Keefe* Norman Rockwell Athletics v"Joe DiMaggio Business J. Willard Marriott, Sr. Scholarship & Education ~orman E. Borlaug vwill and Ariel Durant v Bruce Catton Science & Engineering v/John Bar de en* /James D. Watson Theology & Religion Spencer Kimball Communications Lowell Thomas* Vermont C. Royster Labor 'v I. w. Abel Law v Judge Henry Friendly Erwin N. Griswold Literature /Archibald MacLeish* '<James Michener* II National Security / \ .· Arleigh Burke Y/Omar Nelson Bradley * Wilber M. Brucker Performing Arts \_./Irving Berlin ~ing Crosby (Harry Lillis) v Arthur Fiedler* Mrs. Jouett Shouse Public Service George S. Aiken Mike Mansfield John Sherman Cooper Henry Cabot Lodge George Pratt Shultz* Medicine Rene Dubos Jonas Salk Albert Sabin *Denotes candidates who drew heavy support from within the White House staff . -
Mckinley Revised
THE PRESIDENT FROM CANTON by Grant Segall Greeting the nation from his front porch in Canton, nursing his frail wife, sporting scarlet carnations from a foe, soft-peddling his views, the dapper little William McKinley seemed like the quintessential Victorian. The impression deepened when assassin Leon Czolgosz from Cleveland froze him in time and Teddy Roosevelt rough-rode into the Progressive era. But McKinley launched what became known as the American Century. He helped make a former colony a colonizer and the world’s biggest manufacturer. He planned the Panama Canal and the Open Door policy toward China. He promoted labor rights, mediation and arbitration. He created the White House’s war room, press briefings and press receptions. He also started a century-long rise in presidential power. Future President Woodrow Wilson wrote in 1900, “The president of the United States is now, as of course, at the front of affairs, as no president, except Lincoln, has been since the first quarter of the 19th century.” McKinley broadened a Republican base that mostly dominated until 1932. While he quaintly campaigned from his porch, innovative backers paid the way of an estimated 750,000 visitors from around the country. They also used early polls and movies. Historian Allan Peskin of Cleveland State University once told The Plain Dealer, “McKinley was the first modern president.” Biographer Kevin Phillips wrote, “The Progressive era is said to begin with Teddy Roosevelt, when in fact McKinley put in place the political organization, the antimachine spirit, the critical party realignment, the cadre of skilled GOP statesmen..., the firm commitment to popular and economic democracy and the leadership needed.” 1 Supporters called him the Idol of Ohio. -
Lincoln Day Dinner Speech, Louisville, KY, February 8, 1969” of the Ford Congressional Papers: Press Secretary and Speech File at the Gerald R
The original documents are located in Box D26, folder “Lincoln Day Dinner Speech, Louisville, KY, February 8, 1969” of the Ford Congressional Papers: Press Secretary and Speech File at the Gerald R. Ford Presidential Library. Copyright Notice The copyright law of the United States (Title 17, United States Code) governs the making of photocopies or other reproductions of copyrighted material. The Council donated to the United States of America his copyrights in all of his unpublished writings in National Archives collections. Works prepared by U.S. Government employees as part of their official duties are in the public domain. The copyrights to materials written by other individuals or organizations are presumed to remain with them. If you think any of the information displayed in the PDF is subject to a valid copyright claim, please contact the Gerald R. Ford Presidential Library. Digitized from Box D26 of the Ford Congressional Papers: Press Secretary and Speech File at the Gerald R. Ford Presidential Library 000 EVENING. WHAT A THRILL IT SPEAKING TO YOU IN THIS GREAT FORUMJ YOUR SPLENDID FREEDOM HALL. YOU KNOW1 I FEEL RATHER AT HOME HERE BECAUSE I HAVE SEEN THIS TREMENDOUS o?.-ACE ON TELEVISION S.2~Y~S. I LET ~ MY SONS DO THE~NG ~9W BUT l AM STILL VERY MUcH~~~-~ iH7vf··wttHED YOUR UNIVERSITY OF LOUISVILLE BASKETBALL TEAMS ON "THE TUBE " AS WE SA Y AND ALSO THE 1 1 CHAMPIONSHIP BASKETBALL GAMES THAT HAVE BEEN PLAYED IN THIS ARENA. -~~ IT IS WONDERFUL TO BE IN THE ~; E GRASS COUNTRY" -- THE LAND OF DANIEL BOONE, ABE LINCOLN 2 JOHN SHER~AN COOPER, THRUSTON:MORTo~jiMARLOW COO~~~OUIE N~N~ - BI LL COWGER_, G~NE SNYDr;_R J AND /T 1.M CARTER. -
THE SHERMAN LETTERS Ryley Christopher Marko, Jacob Alexander Burgess, Caylee Faith Conway
THE SHERMAN LETTERS Ryley Christopher Marko, Jacob Alexander Burgess, Caylee Faith Conway. Introduction ■ Shortly after beginning the work on her father’s papers for publication, Racheal Sherman found a series of letters which interested her. Those letters were wrote during a period expanding from 1837 to 1891. These letters showed the total correspondence between her father, William Sherman, and her Uncle, John Sherman. These letters were exchanged by two brothers of fame. These letters were during some of the most controversial moments in American history. Letter 1 Dear Brother: In compliance with your request I sent you a paper shortly after the reception of your letter, which I should have answered much sooner had I not been till within a few days past under the impression that it had been done. This excuse is sufficient, I suppose, for my long delay, especially as a letter from me is not very desirable.I hope that you still have as favorable opinions as ever with respect to your employment, for in my opinion a man's success in his profession depends upon the impressions he receives at the beginning; for if these are favorable, most undoubtedly he will endeavor to succeed, and success will be the necessary consequence. You havenow been engaged at that employment about a year and must be by this time quite an expert engineer. I would not be much astonished if when I came home I would find you superintendent of some public work. I have not received many letters from home lately; in fact, I am almost too busy to write many, and if I do not answer all their letters immediately upon their reception, they follow my example apparently, which is the cause of it, I presume; but after our examination in January I will endeavor to be a little more punctual and Letter 1 Continued expect the same of my correspondents. -
H. Doc. 108-222
FORTY-NINTH CONGRESS MARCH 4, 1885, TO MARCH 3, 1887 FIRST SESSION—December 7, 1885, to August 5, 1886 SECOND SESSION—December 6, 1886, to March 3, 1887 SPECIAL SESSION OF THE SENATE—March 4, 1885, to April 2, 1885 VICE PRESIDENT OF THE UNITED STATES—THOMAS A. HENDRICKS, 1 of Indiana PRESIDENT PRO TEMPORE OF THE SENATE—JOHN SHERMAN, 2 of Ohio; JOHN J. INGALLS, 3 of Kansas SECRETARY OF THE SENATE—ANSON G. MCCOOK, of New York SERGEANT AT ARMS OF THE SENATE—WILLIAM P. CANADAY, of North Carolina SPEAKER OF THE HOUSE OF REPRESENTATIVES—JOHN G. CARLISLE, 4 of Kentucky CLERK OF THE HOUSE—JOHN B. CLARK, JR., 5 of Missouri SERGEANT AT ARMS OF THE HOUSE—JOHN P. LEEDOM, of Ohio DOORKEEPER OF THE HOUSE—SAMUEL DONALDSON, of Tennessee POSTMASTER OF THE HOUSE—LYCURGUS DALTON ALABAMA Samuel W. Peel, Bentonville Joseph R. Hawley, Hartford SENATORS CALIFORNIA REPRESENTATIVES John T. Morgan, Selma SENATORS John R. Buck, Hartford James L. Pugh, Eufaula John F. Miller, 9 San Francisco Charles L. Mitchell, New Haven REPRESENTATIVES George Hearst, 10 San Francisco John T. Wait, Norwich James T. Jones, Demopolis Abram P. Williams, 11 San Francisco Edward W. Seymour, Litchfield Hilary A. Herbert, Montgomery Leland Stanford, San Francisco William C. Oates, Abbeville REPRESENTATIVES DELAWARE Alexander C. Davidson, Uniontown Barclay Henley, Santa Rosa SENATORS Thomas W. Sadler, Prattville J. A. Louttit, Stockton Joseph McKenna, Suisun Thomas F. Bayard, 12 Wilmington John M. Martin, Tuscaloosa 13 William H. Forney, Jacksonville W. W. Morrow, San Francisco George Gray, New Castle Joseph Wheeler, Wheeler Charles N. -
Congressional Record-House. 105
1885. CONGRESSIONAL RECORD-HOUSE. 105 Mr. EDMUNDS (at 1 o'clock and 40 minutes p. m. ). I am advised GEORGIA. that it will be about an hour yet before we can receive a communica Thomas M. Norwood. James H. Blount. Henry G. Turner. Judson C. Clements. tion from the House of Representa.tives. I therefore move that a fur Charles F. Crisp. Seaborn Reese. ther recess of one hour be taken. Henry R. Harris. Allen D. Candler. The motion was agreed to; and (at 1 o'clock and 40 minutes p.m.) N. J. Hammond. George T. Barnes. the Senate took a recess, and at the expiration of the recess (at 2 o'clock ILLINOIS. and 40 minutes p. m.) the President pro tempore resumed the chair. Ransom W. Dunham. William H. ~eece. Frank Lawler. .Tames M. Riggs. MESSAGE FROM THE HOUSE. James H. Ward. George E. Adams. fo~~:~:rii~~~~[· Mr. CLARK, the Clerk of the House of Representatives, appeared be A. J. Hopkins. Joseph G. Cannon. low the bar of the Senate and delivered the following message: Robert R. Hitt. Silas Z. Landes. Thomas J. Henderson, John R. Eden. Mr. President, I am directed by the House of Representatives to in Ralph Pluinb. "William R. Morrison. form the Senate that there is a quorum of the House of Representatives Lewis E. Payson. Richard W. Townshend. present, and that JoHN G. CABLISLE, a Representative from the State Nicholas E. W011hington. John R. Thomas. of Kentucky, has been elected Speaker, and John B. Clark, jr., of the INDIANA. State of Missouri, has been chosen Clerk; and that the House of Rep John J. -
Or Attaining Other Committee Members Serving in Higher Offices Accomplishments
Committee Members Serving in Higher Offices or Attaining Other Accomplishments MEMBERS OF CONTINENTAL John W. Jones John Sherman CONGRESS Michael C. Kerr Abraham Baldwin Nicholas Longworth SECRETARIES OF THE TREASURY Elias Boudinot John W. McCormack George W. Campbell Lambert Cadwalader James K. Polk John G. Carlisle Thomas Fitzsimons Henry T. Rainey Howell Cobb Abiel Foster Samuel J. Randall Thomas Corwin Elbridge Gerry Thomas B. Reed Charles Foster Nicholas Gilman Theodore Sedgwick Albert Gallatin William Hindman Andrew Stevenson Samuel D. Ingham John Laurance John W. Taylor Louis McLane Samuel Livermore Robert C. Winthrop Ogden L. Mills James Madison John Sherman John Patten SUPREME COURT JUSTICES Phillip F. Thomas Theodore Sedgwick Philip P. Barboar Fred M. Vinson William Smith Joseph McKenna John Vining John McKinley ATTORNEYS GENERAL Jeremiah Wadsworth Fred M. Vinson, ChiefJustice James P. McGranery Joseph McKenna SIGNER OF THE DECLARATION OF PRESIDENTS A. Mitchell Palmer INDEPENDENCE George H.W. Bush Caesar A. Rodney Elbridge Gerry Millard Fillmore James A. Garfield POSTMASTERS GENERAL DELEGATES TO Andrew Jackson CONSTITUTIONAL CONVENTION Samuel D. Hubbard James Madison Cave Johnson Abraham Baldwin William McKinley Thomas Fitzsimons James K. Polk Horace Maynard William L. Wilson Elbridge Gerry John Tyler Nicholas Gilman SECRETARIES OF THE NAVY James Madison VICE PRESIDENTS Thomas W. Gilmer John C. Breckinridge SIGNERS OF THE CONSTITUTION Hilary A. Herbert George H.W. Bush OF THE UNITED STATES Victor H. Metcalf Charles Curtis Abraham Baldwin Claude A. Swanson Millard Fillmore Thomas Fitzsimons John Nance Garner Nicholas Gilman SECRETARIES OF THE INTERIOR Elbridge Gerry James Madison Richard M. Johnson Rogers C.B. Morton John Tyler Jacob Thompson SPEAKERS OF THE HOUSE Nathaniel P.