Word: anti-trust
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ADMITTEDLY, this is a very convoluted and shady tale. But it reveals just how President Carter's 1979 wild deregulation and the Reagan Administration's flaccid anti-trust prosecution efforts have combined to produce exactly what both Administrations said they would not--vicious interboardroom wars instead of increased oil exploration...
...would, indeed, be very surprising if Reagan's Justice Department requires more than token adjustments in the new $50 billion Socal-gulf company. Reagan can claim no significant anti-trust prosecutions during his tenure--despite the mergers that have resulted in 30,000-mile railroad giants like Norfolk Southern and Southern Pacific-Santa Fe, and the recent rumblings in the steel industry where U.S. Steel, Republic Steel and LTV Corporation, three of the five biggest steel companies in the country, are planning mergers and acquisitions...
...college graduate is less idealistic, more selfish than his predecessor of a generation ago. He lacks a social conscience and cannot be counted on to change the world. The other theory accepts this view but embraces it So what if the sharpest mind makes the best living warding off anti-trust complaints? Society, through the market, has decided it values this the most. In the circular logic of pure capitalism, "utility has been optimized" in the status quo because it is, well, the status quo. Both views unfairly denigrate the ideals of our generation and wrongly reject the possibility...
...think it's true until they prove it," says the Crimson coach, who's still convinced it might just take a new federal anti-trust act to break up the most powerful dynasty ever to hit the Ivy League...
...major qualification about whether people outside the industry shouldn't think about the question of what the industrial structure in the United States should be. All the mistakes come from people outside the activity trying to make a judgement about what we need. But I think this destruction in anti-trust would almost certainly be a good idea. I think we ought to look hard at our anti-trust policies to see if we can make them better...