Thurman Arnold has spent most of the last 16 years lecturing, wittily, on law. Last October, when he was a Yale Law School professor, Yale University Press published a book of his called The Folklore of Capitalism. In it he said of the anti-trust laws that their actual result "was to promote the growth of industrial organizations by deflecting the attack on them into purely moral and ceremonial channels. . . . Men like Senator Borah founded political careers on the continuance of such crusades, which were entirely futile but enormously picturesque, and...
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