Oct. 2, 2013
For two centuries, the foremost subject of economic debate in America was how to maximize
liberty and opportunity in our economy, by blocking or closely managing concentrations
of power over our markets. But a generation ago two radical changes entirely altered
this conversation and hence how we addressed concentration. First, economic elites largely
concluded such consolidation was generally a good thing. Second, the Reagan Administration
flipped the goals of antimonopoly law on their head; rather than distribute power the
aim now was to promote its consolidation in the hands of a few.