Business: End of the Bigness Bugaboo

As any businessman knows, a cardinal tenet of New and Fair Deal gospel was that a big company was probably bad, i.e., it was tarred with monopolistic sin. Many an economist, both liberal and conservative, went along with this view, vigorously expounded in 1934 by Louis D. Brandeis in The Curse of Bigness. But last week, when 4,000 members of ten economic and statistical societies gathered in Washington for their annual meeting, the economists surprised one another by their new and friendly view of big business and their calmer attitude toward monopoly. Said Yale's Assistant Professor G. Warren Nutter: "The bigness...

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