Word: antitrusters
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...White House has been dropping hints that it is considering relaxing antitrust enforcement in order to help American industry compete more effectively with foreign rivals. U.S. businessmen have long argued that the antitrust laws put them at a disadvantage against foreign companies that, to win rich export orders, are free to form cartels and engage in reciprocal deals (You buy from me, and I'll buy from you). Government officials also worry about great foreign mergers that are creating companies equal in size to the largest U.S. firms...
Growing Concentration. Washington's trustbusters have filed few major cases lately, but Richard McLaren, the Justice Department's antitrust chief, insists that there has been no slackening of zeal. The Administration's prime concern is controlling "merger mania," he explains, and recently there just have not been any big mergers to attack. Attorney General John Mitchell discouraged many corporate giants from contemplating merger by emphasizing in a 1969 speech that the Government would move to bar most acquisitions by the nation's 200 largest companies...
...economic power. The critics complain that the 200 largest U.S. corporations control about two-thirds of all manufacturing assets, a degree of concentration that some economists had not expected the U.S. to reach until 1975 at the earliest. The critics have brought up again the oldest question of antitrust policy: Is bigness, in itself, bad? They reply with a ringing...
...exercises in sarcasm, books on business rarely win much public attention. Even before its official publication last week, however, America, Inc. had stirred widespread debate. The authors, Morton Mintz, a top investigative reporter for the Washington Post, and Jerry S. Cohen, former staff director of the Senate Antitrust and Monopoly Subcommittee, argue that big business is running the U.S.-and running it into the ground...
...Government evidence in an antitrust case showed that, between 1953 and 1961, three manufacturers of antibiotics incurred manufacturing costs as low as $1.52 per 100 tablets of tetracycline, which they sold to druggists at a fixed price of $30.60, or 20 times as much; the retail price was $51. According to a Nader report, the retail price has since declined to $5, partly because of publicity brought by the case...