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    Antitrust and Business Activity: The First Quarter Century

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    Antitrust and Business Activity.pdf (23.21Mb)
    Issue Date
    1996-09
    Author
    Bittlingmayer, George
    Publisher
    Cambridge University Press
    Type
    Article
    Article Version
    Scholarly/refereed, publisher version
    Metadata
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    Abstract
    The modern corporation arose out of the trusts, mergers and holding companies of the late 19th century, an evolution that generated volatile political reactions. Though economists and business historians have analyzed the rise of the corporate form, they have neglected a second, related problem: Did attacks on the modern corporation depress business activity, as critics of Theodore Roosevelt and Howard Taft claimed? This paper has three aims. First, it covers the relevant analytical issues, including the effects of policy uncertainty on business investment. Second, it reviews the history of shifting governmental policy in the light of its possible economic effects. Finally, it examines die statistical link between antitrust enforcement and business activity for the years 1891–1914. Antitrust case filings against large firms coincided with business downturns, while filings against small firms did not. These findings provide supporting evidence though not decisive proof for the charge that trust-busting hurt business activity.
    Description
    Business History Review 70 (Autumn 1996): 363-401. © 1996 by The President and Fellows of Harvard College.
    URI
    http://hdl.handle.net/1808/10174
    DOI
    https://doi.org/10.2307/3117242
    Collections
    • Distinguished Professors Scholarly Works [918]
    • School of Business Scholarly Works [216]
    Citation
    Bittlingmayer, George (1996), "Antitrust and Business Activity: The First Quarter Century," Business History Review, 70 (3), 363-401. http://dx.doi.org/10.2307/3117242

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    Contact KU ScholarWorks
    785-864-8983
    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    785-864-8983

    KU Libraries
    1425 Jayhawk Blvd
    Lawrence, KS 66045
    Image Credits
     

     

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