Changes

to stop cutthroat competition.  The [[NRA]] (1933–35) was a short-lived program in 1933-35 designed to strengthen trade associations, and raise prices, profits and wages at the same time. The [[Robinson-Patman Act]] of 1936 sought to protect local retailers against the onslaught of the more efficient chain stores, by making it illegal to discount prices.  To control big business the New Deal preferred federal and state regulation—controlling the rates and telephone services provided by ATT for example—and by building up countervailing power in the form of labor unions.

to stop cutthroat competition.  The [[NRA]] (1933–35) was a short-lived program in 1933-35 designed to strengthen trade associations, and raise prices, profits and wages at the same time. The [[Robinson-Patman Act]] of 1936 sought to protect local retailers against the onslaught of the more efficient chain stores, by making it illegal to discount prices.  To control big business the New Deal preferred federal and state regulation—controlling the rates and telephone services provided by ATT for example—and by building up countervailing power in the form of labor unions.

By the 1970s fears of "cutthroat" competition had been displaced by confidence that a fully competitive marketplace produced fair returns to everyone.  As unions faded in strength, the government paid much more attention to the damages that unfair competition could cause to consumers, especially in terms of higher prices, poorer service, and restricted choice.  In 1983 the Reagan administration used the Sherman Act to break up [[AT&T]], a nationwide telephone monopoly, into one long-distance company and six regional local service companies, arguing that competition should replace monopoly for the benefit of consumers and the economy as a whole. In 1999 a coalition of 19 states and the federal Justice Department sued Microsoft. A highly publicized trial demonstrated that [[Bill Gates]]—the new Rockefeller—had strong-armed many companies to squelch the competitive threat posed by the Netscape browser.  In 2000 the trial court ordered Microsoft split in two to punish it, and prevent it from future misbehavior. Gates argued that Microsoft always worked on behalf of the consumer, and that splitting the company would diminish

By the 1970s fears of "cutthroat" competition had been displaced by [[confidence]] that a fully competitive marketplace produced fair returns to everyone.  As unions faded in strength, the government paid much more attention to the damages that unfair competition could cause to consumers, especially in terms of higher prices, poorer service, and restricted choice.  In 1983 the Reagan administration used the Sherman Act to break up [[AT&T]], a nationwide telephone monopoly, into one long-distance company and six regional local service companies, arguing that competition should replace monopoly for the benefit of consumers and the economy as a whole. In 1999 a coalition of 19 states and the federal Justice Department sued Microsoft. A highly publicized trial demonstrated that [[Bill Gates]]—the new Rockefeller—had strong-armed many companies to squelch the competitive threat posed by the Netscape browser.  In 2000 the trial court ordered Microsoft split in two to punish it, and prevent it from future misbehavior. Gates argued that Microsoft always worked on behalf of the consumer, and that splitting the company would diminish

efficiency and slow down the torrid pace of software development.

efficiency and slow down the torrid pace of software development.