-Is the higher concentration of personal wealth reflective of a failure of the Sherman and Clayton Acts? Should the redistribution of wealth at the corporate or personal level be a goal pursued by the federal government?
- The Microsoft case gives us an opportunity to consider the impact that economic power, whether anticompetitive or not, may have on our society. It allows reconsideration once again about how much faith we want to or should place in the free market alone. How much concentration of wealth and power among a small number of corporate giants and individuals can we accept?
- If you were to lobby Congress and inform them again why the Sherman Anti-Trust Act was enacted, what it stands for, and why oligopolies are not for our good, what do you think the response from Congress would be? What would be their argument?
- Is the higher concentration of personal wealth reflective of a failure of the Sherman and Clayton Acts? Should the redistribution of wealth at the corporate or personal level be a goal pursued by the federal government?
No and no. Both of your questions are an affront to the ideals of capitalism and unless the system is willing to change its entire logic and ideology, your proposed solutions of redistribution of wealth and preventing concentration of personal wealth are misplaced. The entire system is predicated upon accumulating wealth in an attempt to make more wealth, and as long as capitalism is steeped in this pursuit, concentrating personal wealth and increasing corporate wealth will be at the forefront of titans of industry. Therefore, I believe that as opposed to representing a failure of the Sherman and Clayton Acts, it represents a failure of capitalism if you believe that ...
The expert examines Antitrust Law concentration of personal wealth.