In this podcast, recorded earlier this week, Juliette and I discuss the history of American antitrust legislation. This legislation was not meant to promote economic competition; it was intended to protect politically influential firms from the competition that was being unleashed by new, entrepreneurial firms – especially those taking advantage of the economies of scale made possible by railroads and electronic communications.
(I do apologize for mistakingly saying that the great Gustavus Swift was born to German parents. He was, in fact, born to descendants of English settlers in America.)
