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Antitrust Bill of Rights.... DJL's comments
Date: Thu, 6 Nov 1997 13:13:27 -0500 (EST)
Posted for DLJ@POBOX.COM
charles mueller writes:
> Can a country have an effective antimonopoly policy if its
>implementation and interpretation is put into the hands of its judges
Now here is the basic anti-monopoly story -- it involves railroads which
tend to be natural monopolies :
Karl J. Immigrant settles on the prairies. His son turns queer. Then he
into town and finds his daughter is putting it out on the corner. Then
wife runs away with the salesman from Sears Roebuck. A storm comes up
rips the roof off his house.
What does he do?
He goes out in the field in the wreckage of his life and he looks up in
sky so he can stare God in His face. He shouts "God damn the CPR."
For people who don't know, the CPR is the Canadian Pacific Railway,
the single most corrupt organisation ever created until the Kohl
Democrats bought the election of 1989 by calling Ossie and Wessie
Deutschmarks equal in value. In the CNR case, they bought the election
I forget the year, but it was Sir John A. MacDonald's second
administration -- for a price of 300,000 pounds sterling. Serious money.
Why can I be so light about "monopolies"?
Look at the real situation: Karl J. Immigrant did not need the railway.
can go elsewhere. The Mormons, for instance, have simply gone of on
own and created a good and decent civilisation quite independent of out
normal, monopoly ridden if you believe people like Mueller, society.
the Mormons re-enter our society, it tends to be in banking, computation
national security. They tend to be a little humourless for my taste,
they work hard and generally seem to turn in their work on time.)
Let us assume a world owned by this apparently small -- 450 is the
popular number -- of people. I know some of them. I'll give you the
example of Iwasaki Hiroya (not the richest man I know, and some of my
daughter's friends really amaze me.) Mr Iwasaki owns about three or
percent of the Mitsubishi operation, which means he's worth somewhere
between five and fifteen billion US dollars. Mitsubishi was basically
created by his grandfather, and while their wealth depends on a whole
of wise and sensible things they did, plus a lot of hard work, their
hit was the earthquake of 1873, I think it was. Old man Iwasaki was in
England at the time and the staff sent his a telegram (over the newly
established telegraph wires) saying "Horrible earthquake. Everything
He signalled back: "Buy land."
* * *
The rich, IMHO, tend to be people who have faith in the future, both of
proposition they're working on and of the people around them.
* * *
When various morons talk about the world being controlled by a small
of people -- I mean really folks, ask yourself two questions:
1.) Is a smart person like you under the control of some distant richie?
2.) Why would all these richies want to get involved with running your
OK? I mean gimme a break, folks, and cut out all this stupid paranoid