Word: antitrust
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...onetime political reporter for the Cincinnati Enquirer, Newsman Cox was overwhelmingly elected to Congress from Ohio's Third District in 1908 and 1910, fought hard for such causes as tariff reduction and antitrust laws, later became Ohio's only three-term governor. In the 1920 presidential campaign he promised ailing Woodrow Wilson: "We are going to be a million percent with you and your administration. That means the League of Nations." But in Warren Gamaliel Harding, able Orator Cox and his running mate, Franklin Delano Roosevelt (a young man he later came to differ with in political philosophy...
...Clayton Act (TIME, June 17), U.S. businessmen have been fretting over just how far the Justice Department will try to push the new decision. Last week they could breathe a little easier. In a carefully prepared speech Robert A. Bicks, a top member of the Justice Department's Antitrust Division, told the American Bar Association that the Government would take a long, hard look before trying to upset other longstanding affiliations. Said Bicks: "At least in terms of the feasibility of effective relief in cases involving long-consummated acquisitions, the G.M.-Du Pont ruling may be more the exception...
...from politics. With elections coming next year, Chile's Congress has balked at the important but unpopular reforms on the Klein & Saks program. The Congress refused a 20% cut in government staff, and government expenses rose this year instead of dropping, as planned. It also balked at an antitrust bill to curb monopolistic, inflationary practices in the lumber, paper, cement and tobacco industries. Meanwhile, the government itself hesitated to tighten collections of income taxes, which are high in theory but evaded in practice. And the armed services continued to waste money; e.g., the Navy still keeps in commission...
...Erhard the heart of Marktwirtschaft is the principle of free competition, firmly defined in the U.S.'s Sherman Act and subsequent antitrust legislation. Since 1950, the roly-poly Economics Minister has been struggling to persuade West Germany's Bundestag to pass its own anti-cartel law. At times, Erhard's fight-which Germans jestingly called "the Seven Years' War"-seemed hopeless. No European nation had ever adopted a law comparable to the Sherman Act, and none appeared less likely to do so than Germany, fatherland of the classic cartel. (In the mid-1930s, experts estimated that...
Estes Kefauver said that the Senate Antitrust and Monopoly Subcommittee will do so. Senator Harry Byrd's Senate Finance Committee got ready to grill Treasury Secretary Humphrey on the boost this week, may also call steel-industry executives to testify. And incoming Secretary of the Treasury Robert B. Anderson wistfully told Congressmen: "I wish the steel increase had not taken place...