While the “robber barons” of the Gilded Age and the companies they led have faded into history, the mythology they inspired stubbornly persists. Antitrust bureaucrats and their cheerleaders maintain that corporate “bigness in and of itself is bad and leads to a host of other evils,” as put by Donald J. Boudreaux and Phil Gramm in The Triumph of Economic Freedom. This old and economically baseless notion has endured and continues to be applied long after the idea has been discredited.
Read Full Article »
