THEORY: Ideological Schism

Competition is preferable to collusion, even if collusion (or "cooperation") might be the best way to counter the cartel formed by foreign oil producers. That seems to be the philosophy of trustbusters who are waging war against the nation's big oil companies.

The trouble is, says Harvard Business School Professor George C. Lodge, that the trustbusters are being guided by the "old American ideology." In his new book, The New American Ideology (Knopf; $12.50), Lodge declared passe the old 17th and 18th century business and political values of competition, property rights, limited...