"Public policy both on mergers and bigness should be one of keeping hands off." Thus, before Stanford University's 14th Business Conference in Stanford, Calif, last week, Harvard Economist Sumner Slichter took up the question of increasing bigness in U.S. business and explored it both from an economic and a political standpoint. Said Slichter: "The health of any organization, whether a business concern, a university, or a Government agency, is promoted by growth."
Size & Efficiency. There was once a doctrine, fostered by New Dealers and pre-New Dealers such as Justice Louis Dembitz (The Curse of Bigness) Brandeis, that bigness kills...
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