Word: antitrust
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...when they elected Ronald Reagan, opposition to the harsh policies of the former film star has predictably grown. The difficulties and failures of Reaganism, however, must not be permitted to overshadow what may prove to be this administration's one outstanding success--a fair, coherent and consistent policy of antitrust prosecution...
...took the Government 13 years to decide finally the IBM antitrust case was "without merit and should be dismissed." Ah, justice...
...important and far-reaching legislation ever enacted by the American Congress," but it was actually an ill-considered amalgam of two conflicting and somewhat unrealistic strategies. To revive production, which had dropped by almost 50% since 1929, the NRA invited all employers within a given industry to ignore the antitrust laws and draw up their own "codes of fair competition." That implicitly permitted not only production curbs but legalized price fixing. On the other hand, to stop the rapid spread of wage cuts and unpaid overtime, the NRA codes were also supposed to include such things as minimum wages...
...Federal Trade Commission's decision to halt the cereal suit was another example of the Reagan Administration's antitrust philosophy. The Government still intends to block mergers that significantly reduce competition, but it will no longer try to dismantle existing firms simply because they are big and successful...
...cereal case was also a landmark setback for the Government's novel antitrust theory that a group of companies can "share" a monopoly. The FTC's staff had charged that the three firms had a "tacit understanding" that kept cereal prices high and stopped competitors from entering the business. If the cereal makers had lost their case, the shared monopoly doctrine might have been used against autos, aluminum and other industries dominated by a few firms...