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Morgan's philosophical legacy is more troublesome. He regarded competition as wasteful and chaotic, which in his day it often was. To bring stability and order to the economy--and to fulfill what he regarded as his moral responsibility to safeguard clients' investments--he organized monster trusts. Notably, he midwifed the 1901 merger that created U.S. Steel, the world's first billion-dollar corporation. Such behemoths have spurred economic growth and technological advance. But can they get so big and powerful that the government is justified in breaking them up? If so, when? And how can that be done without...

Author: /time Magazine | Title: Books: Taking His Full Measure | 4/19/1999 | See Source »

...further role in the subsequent development of this or any other antibiotic, aside from happily providing other researchers with samples of his mold. It is said that he lacked both the chemical expertise to purify penicillin and the conviction that drugs could cure serious infections. However, he did safeguard his unusual strain of Penicillium notatum for posterity. The baton of antibiotic development was passed to others...

Author: /time Magazine | Title: Bacteriologist ALEXANDER FLEMING | 3/29/1999 | See Source »

...Sunday, a U.S. official informs TIME, Lee announced, "I'm not going to tell you anything, and I'm ready to go to jail." On Monday, Lee finally lost his job for allegedly breaking security rules: failing to report contacts with people from "sensitive" countries, failing to "safeguard" classified material and giving deceptive answers. So far, no criminal charges have been brought against him for his suspected offense...

Author: /time Magazine | Title: How Not To Catch A Spy | 3/22/1999 | See Source »

...return for a portion of a prospective reward, they ask their victim to help them deposit the sum in a bank--and then demand some form of collateral to "safeguard" the deposit...

Author: By Christopher C. Pappas, CRIMSON STAFF WRITER | Title: PfoHo Resident Foils Scam | 3/19/1999 | See Source »

Monsanto's attempt to safeguard its investment in genetically engineered seeds by making sure they can't reproduce seems understandable and justified. It is intended to provide the company with protection similar to that available to developers of hybrids; in most instances, only the first progeny of a hybrid is a marketable crop, and subsequent seed crops do not carry the parents' useful characteristics. Monsanto's effort to protect what is rightfully the company's may help to stimulate further plant research, to the betterment of agriculture and horticulture. TIB SZEGO Lindsay...

Author: /time Magazine | Title: Letters: Feb. 22, 1999 | 2/22/1999 | See Source »

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