Monopolies in America: Empire Builders and Their Enemies from Jay Gould to Bill Gates
In this incisive and comprehensive history, business historian Charles Geisst traces the rise of monopolies from the railroad era to today's computer software empires. The history of monopolies has been dominated by strong and charismatic personalities. Geisst tells the stories behind the individuals--from John D. Rockefeller and Andrew Carnegie to Harold Geneen and Bill Gates--who forged these business empires with genius, luck, and an often ruthless disregard for fair competition. He also analyzes the viewpoints of their equally colorful critics, from Louis Brandeis to Ralph Nader. These figures enliven the narrative, offering insight into how large businesses accumulate power. Viewed as either godsends or pariahs, monopolies have sparked endless debate and often conflicting responses from Washington. Monopolies in America surveys the important pieces of legislation and judicial rulings that have emerged since the post-Civil War era, and proposes that American antitrust activity has had less to do with hard economics than with political opinion. What was considered a monopoly in 1911 when Standard Oil and American Tobacco were broken up was not applied again when the Supreme Court refused to dismantle U.S. Steel in 1919. Charting the growth of big business in the United States, Geisst reaches the startling conclusion that the mega-mergers that have dominated Wall Street headlines for the past fifteen years are not simply a trend, but a natural consequence of American capitalism. Intelligent and informative, Monopolies in America skillfully chronicles the course of American big business, and allows us to see how the debate on monopolies will be shaped in the twentieth-first century.
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Monopolies in America: empire builders and their enemies from Jay Gould to Bill GatesUser Review - Not Available - Book Verdict
Geisst (Wall Street: A History) points out that for many people the board game remains their only exposure to the legal concept of monopoly. But buying up property and eliminating competitors is only ... Read full review
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acquisitions Adams administration Alcoa American Andrew Carnegie antimonopoly Antitrust Division antitrust laws AT&T banks battle became began big business bonds Brandeis capital century charged Chicago claimed Clayton Act company’s competition competitors conglomerate conglomerateurs Congress consolidation consumer corporate country’s created critics Deal decade decision dominant early economic Electric federal Geneen Glass-Steagall Act government’s greenmail holding companies idea industrialists industry Insull interest Interstate Commerce investment bankers investors issue J. P. Morgan Jay Gould junk bond Justice Department Kefauver largest later legislation Louis Brandeis major manufacturing merger million monopolists monopoly Muscle Shoals operating percent political predatory pricing president price leadership problems production profits proposed proved quickly railroads rates regulators Republican result Rockefeller Roosevelt securities selling Senate share Sherman Act Standard Oil stock market suit Supreme Court takeover trust trust-busting U.S. Steel United utilities Vanderbilt Wall Street World York