- Abernathy, Nell, 193, 195, 199, 204, 212
- Acs, Zoltan, 84, 86, 113
- Adams, John, 139
- Addyston Pipe and Steel Company et al. v. United States (1899), 24
- Affirmative action, 75, 227
- Affordable Care Act, 227
- African Americans, 75, 171
- Age Discrimination in Employment Act of 1967, 226–227
- Aggregate demand, 180, 197–198
- Agrarian era, 140–141
- Agrarian republicanism, 139, 141–142, 146
- Agricultural Adjustment Act, 170
- Agriculture
- and corporate R&D, 190
- industrialization of, 139–140
- Airliner industry, 34
- Airline ticket prices, 213
- Air pollution, 71
- Air travel, 38, 206, 213
- Alcoa case of 1945, 169, 222–223
- Alcohol sales, 157–158
- Allocation efficiency, 189
- Alto, 96
- Amazon, 127, 209, 218
- American Capitalism, 100
- American Medical Association (AMA), 149
- Americans with Disabilities Act of 1990, 227
- American Tobacco Company, 25–27
- Andreessen, Mark, 54–55
- Antimonopolist tradition, 47–50, 52–53. See also Market fundamentalism; Producer republicanism
- and American South, 174–176
- components of, 135–136
- and consumer protection, 156, 160, 164, 177–178
- neo-Brandeisian school, 192–198, 206–208, 212–220
- neoclassical economics, 12, 14–15, 136, 182, 190
- and progressives, 167–168
- and technology, 142, 144
- Antitrust Division, 181, 216
- Antitrust legislation, 16, 155–173, 177
- and associationalism, 168–170
- banking, 158
- beneficiaries of, 157–158
- Celler-Kefauver Act of 1950, 31, 182
- chain stores, 170–174
- Clayton Antitrust Act of 1914, 168–169, 182–183
- competition policy, 155–156, 166, 169, 187–188
- and corporate regulation, 165–166, 168
- critiques of, 178, 188–190
- history, 155–156
- and industrial growth, 159–160
- and innovation, 183–185
- and labor movement, 164
- and manufacturing, 157
- and market fundamentalism, 156, 191
- and market power, 178, 182–184
- and mergers, 26, 31, 182, 188
- and national developmentalism, 257–258
- and oligopolies, 181–197
- and producer republicanism, 155–161, 190–191
- and productivity, 191, 258
- progressives/reformers, 161–168
- and recession, 179–180
- and retail industry, 157–158, 173
- Robinson-Patman Act of 1936, 172–173, 181
- and self-employed workers, 191
- Sherman Antitrust Act of 1890, 23–24, 155, 160–161, 166, 172, 182
- and small businesses, 160–161, 169, 177
- state governments, 157
- structure-conduct-performance (S-C-P) school, 177–178, 182–183, 188–190
- and technology, 183–188
- A&P, 171
- Apple, 34–35, 96–97
- Macintosh PC, 97
- profits, 203
- Apple LaserWriter, 97
- Apple Lisa, 97
- Argentina, 126–127
- Aristotle, 138
- Arnold, Thurman, 159, 177–181, 183, 216
- Arora, Ashish, 105–106
- Arrow, Kenneth J., 102
- Associationalism, 168–170
- “As We May Think
- AT&T, 98, 103, 105, 185
- Audretsch, David, 50, 57, 113
- Augmentation Research Center (ARC), 97–98
- “Augmenting Human Intellect: A Conceptual Framework
- Australia, 112
- Austria, 73
- Automobile industry, 30–31, 157
- Bain, Joe S., Jr., 182
- Bain Capital, 52
- Bankerteering, Bonuseering, Melloneering, 172
- Banking, 25, 43–44
- antitrust legislation, 158
- branch/unit, 158, 175, 177, 208
- consolidation, 47
- costs, 206
- Internet-based, 120
- loans, 208–209
- and scale economies, 208
- small firm lending, 127
- Barton, Bruce, 252
- Baumgartner, Frank, 150
- Baumol, William, 100, 178, 191, 210, 212, 257
- Beatrice Foods, 31
- Beer industry, 205
- Bellamy, Edward, 163
- Bell Labs, 98, 103, 106
- “Benefits of Competition and Indicators of Market Power
- Berle, Adolph, 7, 169–170, 182–183
- Beverage industry, 50
- Big Business and the Policy of Competition, 257
- Big box stores, 51
- Big business. See also Corporations; Large firms
- attitudes toward, 6–9, 253
- benefits of, 266–267
- and democracy, 135–137, 152
- efficiency, 26–27
- and government, 5, 242
- growth of, 267
- and machine economy, 20, 27–28
- mergers, 29
- multinational companies, 10–11, 34–35, 245–246
- and national/state interests, 9–10
- and politics, 13–14, 221, 249, 253–254
- reputation of, 252–253
- scandals, 9
- and small-is-beautiful myth, 4–5
- Big government, 242–243
- Bimodal economy, 21, 119
- Biotechnology, 114
- Birch, David, 81–82, 225
- Bittlingmayer, George, 24
- Blankfein, Lloyd, 238, 243
- Bloomberg, Michael, 238, 243
- Boeing, 92, 209
- Book and music stores, 51
- Bork, Robert, 189–190
- Boston, 112–113
- Bowring, Joseph, 34, 101
- Branch banking, 158, 175, 208
- Brand, Stewart, 95, 143
- Brandeis, Louis, 135–136, 159, 167–168, 170–172, 176, 183, 192, 194
- Brat, David, 151, 242
- Brazil, 126–127, 131
- Britain, 27
- Broadband industry, 205–206, 212–213
- Brown Shoe Co., Inc. v. United States, 183
- Bryan, William Jennings, 135, 161–162, 167
- Buffett, Warren, 238, 243
- Burundi, 117
- Bush, George H. W., 3, 46, 255
- Bush, George W., 3
- Bush, Vannevar, 97–98
- Business-owning households, 79
- Business Roundtable (BRT), 150
- Campaign finance, 147–148, 152
- Canada, 65, 73
- banking, 158, 208
- firm size, 124
- productivity, 122
- R&D credit, 127
- Cantor, Eric, 151
- Capitalism
- crony capitalism, 137–138, 167, 222, 242
- growth of, 158
- Capitalism, Socialism, and Democracy, 21, 100, 107
- Capstone species, 90
- Car dealers, 220
- Carlson, Richard, 227
- Carnegie, Andrew, 25
- Cartels, 24, 170, 215
- Carter, Jimmy, 3
- C corporations, 229
- Celler-Kefauver Act of 1950, 31, 182
- CEOs, role of, 12–13
- Chain stores, 170–174, 177, 181
- Chandler, Alfred D., 25, 27–30, 100, 256
- Charitable giving, 76
- Chase, Stuart, 163
- Chicago school of economics, 178, 188–190, 192
- China
- and global production, 35
- manufacturing, 130
- semiconductor industry, 217
- small businesses in, 120
- tax rebates, 127
- and technology acquisition, 188
- trade policies, 217
- wages, 65
- Citizen-proprietor, 141
- Citizens United v. Federal Election Commission, 147–148
- City-states, 141
- Clark, John Bates, 25, 162
- Class conflict, 153
- Clayton Antitrust Act of 1914, 168–169, 182–183
- Clean Air Act, 71, 226, 228
- Clifton, Jim, 45
- Clinton, Bill, 3
- Coase, Ronald, 241
- Cohen, Benjamin, 180
- Cohen, Wesley M., 110–111
- Collusion, 260–261
- “Commonwealth of Oceana
- Compensation. See Wages
- Competition, 16
- and antitrust policy, 155–156, 166, 169, 187–188
- global, 215–218
- and global neoliberals, 243
- imperfect, 178
- and innovation, 100–101, 211–212
- and large firms, 101
- and national developmentalism, 256–262
- oligopolistic, 100, 178, 212, 215–218
- perfect, 101–102
- and R&D, 105
- and small business preferences, 236
- state-backed, 217–218
- Competition policy, 155–156, 166, 169
- Computer industry, 58
- Concentration, 199–220. See also Consolidation, firm
- absolute, 201
- banking, 47
- and consumers, 201–202, 209, 219
- global industries, 215–218
- historical trends, 199–206
- and industrialization, 27–28
- industry levels of, 200–202
- innovation industries, 209–212
- and market power, 258–259
- and monopsony, 218–219
- network industries, 212–215
- and prices, 202–206, 218–219
- and productivity, 202
- and profits, 202–204, 210
- retail industry, 201
- scale industries, 206–209
- value of, 258
- Conglomerate mergers, 31
- Consolidation, firm. See also Concentration
- and globalization, 33–34, 215
- and income inequality, 193–194
- and industrialization, 27–28
- Constitutional Convention of 1787, 135
- Construction industry, 49
- Consumers
- and concentration, 201–202, 209
- and innovation companies, 210
- and market fundamentalism, 136
- and producer republicanism, 247
- and progressive localism, 244
- protection, 156, 160, 164, 177–178
- Cooperation, inter-firm, 260–261
- Corporate raiders, 31
- Corporations, 6–7. See also Large firms
- and American periphery, 159–160
- and antitrust legislation, 165–166
- campaign contributions/lobbying, 148–149
- C corporations, 229
- and charitable foundations, 76
- corporate scandals, 9
- corporate statesmen, 12–13, 252–253
- global, 33
- and government, 165–166, 168–170, 227, 229, 250–251, 254–256
- and high-tech industry, 98
- and income inequality, 78–79
- and innovation, 100
- mergers, 23–26, 31
- multi-establishment, 44
- multinational/transnational, 10–11, 33–35, 168, 245–246
- patents, 104, 107–108
- political influence of, 16, 147, 150–152
- profits, 195–197
- and railroads, 22–23
- and R&D, 102–106, 190
- regulation of, 125–126, 165–166, 168–170, 227, 229
- revenues, 200, 204
- shareholder value movement, 11–12
- short-termism, 11–12
- and social responsibility, 251–252
- and state governments, 23
- taxation, 71–72, 195–196, 229–231, 262
- virtual, 32
- wealth concentration, 182
- Costs, fixed/marginal, 203, 209
- Cost spreading, 110–111
- Cotton growing, 174–175
- Country stores, 174
- Creative destruction, 21
- Croly, Herbert, 165
- Crony capitalism, 137–138, 167, 222, 242
- Crop-lien system, 174
- Cruz, Ted, 242
- Cybersecurity, 71
- Davis, Steven J., 83–84
- Dearie, John, 45
- Debs, Eugene V., 163
- Decker, Ryan, 83–84, 201
- Defense Advanced Research Projects Agency (DARPA), 97–98
- De Loecker, Jan, 203
- Demand side model, 93
- Democracy
- Aristotle’s definition, 138
- and big business, 135–137, 152
- and political corruption, 137
- and producer republicanism, 137
- and self-employed, 140, 153
- Denmark, 92
- Department stores, 38
- Developing nations
- small firms, 122, 126, 129–131
- wages, 65–66
- Diminishing-returns industries, 119
- Disabilities, 227
- Discourses Concerning Government, 138–139
- Discrimination, 226–227, 234, 263
- Disk drive industry, 58
- Diversity, 74–75
- Douglas, William O., 160–161
- Dowe, P. E., 160–161
- Dreamliner, 209
- Dr. Miles Medical Company v. John D. Park and Sons Company, 171
- Drucker, Peter F., 8
- DuPont, 25, 106
- Dynamic efficiency, 189
- Eastman Kodak, 187
- Economic growth
- and entrepreneurial decline, 48–49
- and firm size, 63–64, 245
- and small business favoritism, 236–237
- and startups, 48–49, 53, 123–124
- Economic royalists, 249
- Economies of scale, 20–21, 223
- and concentration, 206–209
- machine-driven, 27–29
- and mergers, 31, 215
- process innovations, 30
- and regulation, 234
- retail industry, 209
- and trade, 244
- Edwards, Corwin D., 257, 259
- Edwards, John, 4
- Eechkout, Jan, 203
- Efficiency
- allocation/dynamic, 189
- and mergers, 189, 261
- and regulatory compliance, 234
- and small business preferences, 236–237
- Electric light industry, 207
- Electric utility industry, 113
- Ely, Richard T., 162
- Employer-Provided Childcare Facilities and Services credit, 230
- Employment. See also Job creation; Self-employed workers; Wages
- African Americans, 75
- and demand side, 93
- discrimination, 226–227, 234, 263
- gig economy, 36, 119–120, 147
- Hispanics, 75
- industrial research, 103–104
- large firms’ share of, 85, 123
- layoffs, 73
- low-income workers, 65
- manufacturing, 39
- private sector, 35–36
- retail, 52
- small business share of, 85
- startups, 118
- women, 75
- worker safety, 73–74
- Engelbart, Douglas, 97–98
- Enterprises, 37. See also Firm size
- Entrepreneurial decline
- causes of, 46–53
- and economic growth, 48–49
- and global competition, 50
- industry, 49
- manufacturing, 49–50
- and public policy, 46, 52
- rate of, 44–45
- retail, 51–52
- and technology, 50–51
- Entrepreneurs, 7. See also High-growth entrepreneurship; Startups
- female, 75
- individual, 100, 106–107
- and innovation, 100, 106–107
- millennials as, 47
- regime types, 57–58
- types of, 53–54
- Environmental protection, 70–71
- Environmental Protection Agency (EPA), 228
- Establishment size, 37, 39–40, 42. See also Firm size
- EU, 112
- firm size, 120–121
- government subsidies, 128
- SME policy, 131
- Evolutionary economics, 178, 189
- Ex-Im Bank, 151–152
- Exports, 69–70, 117–118
- Export-serving businesses, 90–91
- Fairchild Semiconductor, 98
- Fairness, 225, 227–228, 233–235
- Fair trade laws, 157
- Family and Medical Leave Act, 226
- Family ties, 125
- Farmers, 140, 144, 174–175
- and corporate R&D, 190
- and retail industry, 171
- Federal Aviation Administration (FAA), 228
- Federal Communications Commission (FCC), 232
- Film-processing industry, 187
- Financial services industry, 49, 79
- Finland, 122
- Firm formation, 86, 124
- Firm size, 37–44. See also Large firms
- average firm/establishment, 37, 39
- and capital intensity, 68
- cybersecurity, 71
- distribution of, 120–122
- diversity, 74–75
- domestic, 35
- economics of, 63–64, 245
- environmental protection, 70–71
- exports, 69–70
- and GDP, 196
- and global competition, 218
- global increase in, 27–28
- growth/mix effect, 121
- and income, 125, 256
- income inequality, 77–80
- and innovation, 29–33, 69, 99–102, 107–115, 210, 247
- and intellectual property, 245
- and job benefits, 63, 66–67
- and job creation, 69, 83, 238
- layoffs, 73
- local economic benefit, 68–69
- manufacturing, 20, 40–42, 124, 200–201
- and market structure, 125–126, 256–257, 259
- multinational companies, 34–35
- national differences, 124–126
- nonmanufacturing, 42–44, 120
- optimal, 241
- and per capita income, 125
- and political/legal systems, 29
- and population, 124–125
- and productivity, 57, 67–68, 204
- and R&D, 109–111, 113–114, 124
- retail, 43
- and returns to scale, 28–29
- and scale efficiencies, 207
- service industries, 43
- small industries, 37
- social responsibility, 75–76
- tax compliance, 71–73
- and technology, 27–29, 43–44, 52, 56–57, 59–60, 120, 143–144
- trends, 39–40
- and trust, 125
- unionization/training, 74
- US mergers, 24–26
- wages, 64–66, 193–194
- worker safety, 73–74
- First New Deal, 170
- Folklore of Capitalism, The, 179
- Food expenditure, 19
- Food prices, 206
- Ford, Gerald, 3
- Fracturing of the Corporate Elite, The, 12
- France
- banking, 208
- food prices, 206
- grants and subsidies, 128
- manufacturing firm size, 41
- productivity, 122, 129
- public policy, 126
- small retailer protections, 127
- Freescale Semiconductor Ltd., 188
- Friedman, Milton, 241, 251
- Fujifilm, 187
- Fukayama, Francis, 125
- Furman, Jason, 77, 194, 199
- Furnishing merchants, 174–175
- Galbraith, John Kenneth, 6–7, 20–21, 100–102, 178, 189–190, 197, 223, 257
- Garage myth, 96
- Garicano, Luis, 129
- General Electric, 25, 203
- General Motors, 10
- Gentry liberals, 225
- Germany, 27–28
- average wages, 65
- exports, 69
- layoffs, 73
- manufacturing firm size, 41
- productivity, 122
- technological research in, 103
- Gig workers, 36, 119–120, 147
- Gillespie, Ed, 242
- Glickman, Steve, 44
- Globalization, 10, 90
- and consolidation, 33–34, 215
- and firm size, 27–28
- global competition, 215–218
- and information technology (IT), 143
- and manufacturing firm size, 41
- multinational companies, 34–35
- and national protectionism, 246, 250
- and progressive localists, 245
- and self-employed, 117
- Global libertarianism, 241–243, 246–247, 250–251, 254
- Global neoliberals, 243, 246–247, 250–251, 254
- Goldman, Seth, 114
- Gompers, Samuel, 164
- Google, 106
- Gordon, John Steele, 184–186
- Government. See also Public policy; Regulation
- and big business, 5, 242
- and corporations, 165–166, 168–170, 229, 250–251, 254–256
- and crony capitalism, 138
- loan programs, 263
- and national developmentalism, 246–247, 251, 255–256
- and new firms, 265
- protection, 261–262
- research & development funding, 103, 256
- and size neutrality, 262–263
- small business sponsorship, 182, 224
- and startups, 15–16
- Gravelle, Jane, 222
- Great Depression, 179–180, 198
- Gridlock Economy, The, 257–258
- Guzman, Jorge, 54–55, 265
- Hachette, 218
- Haltiwanger, John, 57, 83–84
- Hand, Learned, 222
- Hardware stores, 51
- Harrington, James, 139
- Harvard school of antitrust, 177–178, 182–183, 190, 192
- Hathaway, Ian, 44–47, 57
- Hayek, Friedrich, 136, 180–181
- Health insurance, 66, 204–205
- Heller, Michael, 257
- Hewlett, Bill, 98
- Hewlett-Packard (HP), 98–99
- Hicks, John, 101
- High-growth entrepreneurship, 54–60, 90, 265
- entrepreneurial/routinized regimes, 57–58
- job creation, 89–90
- rates of, 54–55, 57
- and technological cycles, 55–57, 60
- High-tech industries, 210
- High-tech startups, 15, 55–57, 107
- Hispanics, 75
- Historically Underutilized Business Zone (HUBZone) program, 232
- Honest Tea, 114–115
- Hoover, Herbert, 168
- Horizontal mergers, 26, 182, 188
- Hospitals, 220
- Household expenditure/income, 19
- Housing capital, 194
- Howells, William Dean, 163
- Hurst, Erik, 115
- Hymer, Stephen, 33
- IBM, 103, 105–106, 187
- Idson, Todd L., 63
- Immigration reform, 151
- Imperfect competition, 178
- Income. See also Wages
- and firm size, 125, 256
- household, 19, 235
- redistribution, 194–195, 235
- state per capita, 123
- Income inequality, 77–80, 118, 193
- Increasing-returns industries, 119, 210
- India, 65, 123, 129–130
- Indonesia, 65, 123, 127
- Industrial commons, 99
- Industrialization
- and antitrust legislation, 159–160
- firm concentration, 27–28
- and machine-based technology, 27
- progressive support for, 162–163
- and self-employment, 119
- and technology, 143
- Industrial research, 103–104
- Inequality, 77–80
- Informal economy, 131
- Information age, 96
- Information technology (IT), 21, 32. See also Technology
- and corporate labs, 104
- and globalization, 143
- and innovation, 32–33
- scale economies, 209
- and service industries, 43, 120
- and transnational corporations, 33
- Infrastructure monopolies, 16
- Innovation, 17
- and antitrust legislation, 183–185
- automobile industry, 30–31
- and competition, 100–101, 211–212
- and compulsory sharing, 184–185
- and concentration, 209–212
- and corporations, 100
- disrupting/sustaining, 105
- and early-stage research, 102–103
- economies of scale, 30
- and entrepreneurs, 100, 106–107
- and firm size, 29–33, 69, 99–102, 107–115, 210, 247
- and information technology, 32–33
- and large firms, 69, 106–107, 109–112, 189–190, 247–248
- and market power, 259
- and mergers, 261
- and prices, 247
- product/process, 111, 186
- and R&D, 210–211
- scale of production, 32–33
- science-based, 103–104
- and small businesses, 69, 107–112
- and startups, 54, 59, 99, 108–109
- techno-economic paradigms, 30–31
- and technological cycles, 55–57
- Innovation school of economics, 178, 189–190
- Intel, 217
- Intellectual property (IP), 245
- International Harvester, 25
- Investment banking, 25
- iPhone, 34–35
- Italy
- family ties, 125
- firm size, 129
- manufacturing firm size, 41
- tax evasion, 72
- Jackson (1931), 172
- Jackson, Chris, 44
- Jackson, Robert H., 177, 179–180
- Japan, 111–112
- banking, 208
- firm size, 129
- and patent sharing, 185–187
- productivity, 122
- small retailer protections, 127
- Jefferson, Thomas, 135, 141–142
- Jianguang Asset Management Co. Ltd., 188
- Jindal, Bobby, 5, 17
- Job creation, 15, 69. See also Employment
- and firm formation, 86
- and firm size, 69, 83, 238
- high-growth firms, 89–90
- and job loss, 40, 83–84, 87, 194
- large firms, 81–84, 88–90, 238
- local-serving/export-serving businesses, 91–92
- public policy, 237–238
- small businesses, 15, 69, 81–94, 225, 237–238, 264
- and startups, 86–90
- and state developmentalism, 255
- supply/demand side, 92–93
- and unemployment, 85–86
- Jobs. See also Employment; Job creation
- job benefits, 63–64, 66–67
- job growth, 81–82, 87–88
- job loss, 40, 83–84, 87, 194
- Jobs, Steve, 96
- Johnson, Lyndon, 182
- Jones, Reginald, 12, 252
- Justice Department, 184–185
- Kaplan, Steven N., 79–80
- Kauffman Foundation, 83
- Kaysen, Carl, 182
- Kelley, Donna, 47
- Keynesian theory, 179–180
- Khan, Lina, 44–45, 47, 192–194
- Kleiner, Eugene, 98
- Kleiner Perkins Caulfield & Byers, 98
- Knott, Anne Marie, 111
- Korea. See South Korea
- Labor. See also Labor movement
- income share, 194
- labor force, 20
- “Labor and Its Attitude toward Trusts
- Labor movement
- and big business, 225
- and industrial consolidation, 164
- unionization, 74, 164, 169, 197
- Lamoreaux, Naomi, 24–25
- Large-firm industries, 37–39
- Large firms, 69. See also Corporations; Firm size
- advantages of, 162
- and competition, 101
- cooperative ecosystems, 260–261
- cybersecurity, 71
- diversity, 74–75
- employment share, 85, 123
- environmental protection, 70–71
- exports, 69–70
- and globalization, 33–34
- and high-tech industry, 98
- income inequality, 77–80
- and information era, 32
- and innovation, 69, 106–107, 109–112, 189–190, 247–248
- job benefits, 63–64, 66–67
- job creation, 81–84, 88–90, 238
- layoffs, 73
- local economic benefit, 68–69
- managerial economies, 20–21
- manufacturing, 20
- market share, 34–36, 199–202
- patents, 104, 107–110
- performance, 15
- political lobbying, 150
- productivity, 67–68, 122–124, 194–195
- profits, 204
- R&D, 110–111
- and regulation, 125–126, 165–166, 168–170, 227, 229
- rent-seeking activities, 150
- and returns to scale, 29, 210
- and small businesses, 86, 90–93
- social responsibility, 75–76
- stability of, 30
- taxation, 127
- tax compliance, 71–73
- and transportation networks, 244–245
- and unemployment, 85–86
- unionization/training, 74
- wages, 64–66
- worker safety, 73–74
- Layoffs, 73
- Left (political), 225
- “The Left and Right Share a Common Enemy
- Lemann, Nicholas, 162
- Lending. See Loans
- Lessig, Lawrence, 253
- Lettieri, John W., 44–45
- Liggett (1933), 172
- Lincoln, Abraham, 139
- Lippmann, Walter, 162
- Litan, Robert, 44–47
- Loans, 127, 208–209, 231–232, 263
- Lobbying, 148–150
- Local economy, 68–69
- Local-serving businesses, 90–92
- London, Jack, 163
- Long, Huey, 172, 179
- Longman, Phillip, 135, 184, 193, 199, 205, 213
- Looking Backward, 163
- Lords of Strategy, 188
- Lynn, Barry, 44–45, 47, 114, 135, 184, 193–195, 199, 205–206, 208, 213, 216
- Machine economy, 20, 27–28
- Machine horsepower, 27
- Machine tools, 42
- Macintosh PC, 97
- Magdoff, Harry, 33
- Malaysia, 123
- Management, 7–8
- Managerial corporation, 100
- Managerial economies of scale, 20
- Manufacturing, 23, 265
- antitrust legislation, 157
- automobile industry, 30
- average employment, 39
- debt-to-equity ratio, 31
- and entrepreneurial decline, 49–50
- firm size, 20, 40–42, 124, 200–201
- industry concentration, 201–202
- job loss, 40
- long-wave model, 58–59
- and mergers, 28–29
- physical plant, 26, 40–41
- startup decline, 49–50
- Marconi, Guglielmo, 104
- Marginal costs, 203, 209
- Market concentration. See Concentration
- Market fundamentalism, 13–14, 136–138, 147, 197
- and antitrust policy, 156, 191
- and consumer welfare, 136
- Market power, 202–203, 261. See also Concentration
- and antitrust legislation, 178, 182–184
- and innovation, 259
- and mergers, 259–260
- and small businesses, 219–220
- Markets
- and firm size, 125–126, 256–257, 259
- and global libertarians, 242
- large firms’ share, 34–36, 199–202
- and producer republicanism, 135
- and railroads, 22–23
- and S-C-P paradigm, 178, 182–184
- Markey, Ed, 4
- Mason, Edward S., 182
- Mason, William, 160–161
- Maternity leave, 66
- Maytag, 91
- McCraw, Thomas K., 167, 176
- McFadden Act of 1927, 175
- McKinley, William, 161–162
- Means, Gardiner, 169, 182
- Measure for Measure, 266
- Megadonors, 148
- Megalophobia, 14, 266
- Memex, 97–98
- Mercantilism, 217–218, 256
- Mergers, 23–29
- and allocation/dynamic efficiency, 189, 261
- antitrust legislation, 26, 31, 182
- Celler-Kefauver Act of 1950, 31, 182
- conglomerate, 31
- historical trends, 200
- horizontal, 26, 182, 188
- and innovation, 261
- manufacturing, 28–29
- and market power, 259–260
- and prices, 26–27, 206
- and productivity, 202–203, 207
- and scale economies, 31, 215
- and small businesses, 114–115
- Mexico, 125, 127, 131
- Microbreweries, 205
- Micron Technologies, 217
- Microsoft, 106, 214–215
- Middle class, 146
- Militias, 141
- Miller-Tydings Act, 172–173
- Minimum wage, 264
- Miranda, Javier, 57, 83
- Mizruchi, Mark, 12
- Modern Corporation and Private Property, The, 182
- Monopolies, 16, 47–48, 136, 211, 219–220. See also Concentration; Large firms; Oligopolies
- Monopsony, 218–219
- Moore, Gordon, 98
- Moore’s law, 98
- Morgan, J. P., 25
- Mortgage collapse of 2008-2009, 9
- Moscarini, Giuseppe, 85–86
- MSMEs (micro, small and medium sized enterprises), 64
- Mueller, Holger, 77–78
- Multinational companies, 10–11, 34–35, 245–246
- Multistate holding companies, 23
- Mumford, Lewis, 142–143
- National developmentalism, 17, 241, 246–249
- agenda, 254–256
- and antitrust legislation, 257–258
- and competition, 256–262
- and government, 246–247, 251, 255–256
- National Industrial Recovery Act (NIRA), 170
- National Institute of Standards and Technology (NIST), 285
- Nationalist Clubs, 163
- National productivity, 248–249
- National protectionism, 245–247, 249–250, 254
- Nature of the Firm, The, 241
- Neal Report, 182
- Neo-Brandeisian school, 192–199, 206–208, 212–220
- Neoclassical economics, 12, 14–15, 136, 182, 190
- Neoliberalism, 243, 246–247
- Neotechnic era, 142–143
- Network industries, 212–215
- New Deal, 170, 179, 197, 249
- New firms. See Startups
- New State Ice Co. v. Liebmann, 211
- “1984” Apple commercial, 95
- Nobel Prizes, 104–105
- Nolan, Peter, 34, 106, 109
- Nonmanufacturing industries, 42–44, 120
- Norway, 92
- NXP, 188
- Obama, Barack, 3, 197
- Obama administration, 81, 197
- Occupational Safety and Health Administration (OSHA) requirements, 226, 228–229
- Oi, Walter W., 63
- Oligopolies, 136. See also Concentration; Corporations; Large firms
- and antitrust legislation, 181–197
- global, 246
- oligopolistic competition, 100, 178, 212, 215–218
- One percenters, 79, 193
- Optometry industry, 219–220
- Organization Man, The, 223
- Orszag, Peter, 77, 194
- Packard, Dave, 98
- Pass-through firms, 229
- Patents, 69, 107–110
- compulsory sharing, 184–187
- and corporations, 104, 107–108
- and startups, 108–109
- Paternity leave, 66
- Patman, Wright, 159, 167, 170, 172–173, 176
- Penrose, Edith, 20
- Pentagon of Power, The, 143
- People’s (Populist) Party, 161
- Perfect competition, 101–102
- Perspectives on Experience, 207
- Pharmaceutical industry, 105, 113, 205, 210–211
- Philippines, 65, 123
- Pierce, Richard, 9, 222
- Piketty, Thomas, 77
- Pirrong, Craig, 196, 214
- Pisano, Gary P., 99
- Poland, 112
- Political corruption, 137
- Politicians
- and big business, 13–14, 221, 249, 253–254
- and corporate influence, 16, 147, 150–152
- Republican Party, 242, 254
- and small businesses, 3–6, 13, 149, 221, 239
- Pollan, Michael, 4
- Pollution control, 70–71
- Population
- and firm size, 124–125
- growth, 19
- Populism, 173
- Porter, Michael, 238, 243, 258
- Portugal, 120, 129
- Prices
- and industry concentration, 202–206, 218–219
- and innovation, 247
- and mergers, 26–27, 206
- and productivity, 195
- resale, 172–173, 177
- and technology, 26–27
- Producer republicanism, 14, 135–147, 197
- and antitrust policy, 155–161, 190–191
- and consumers, 247
- and productivity, 144–145
- and technology, 142
- twentieth-century, 156
- and wage earners, 137–139, 145–146
- Production
- and firm size, 57
- manufacturing, 41–42
- and subsistence economy, 145
- transnational, 34–35
- Productivity, 122–124
- and antitrust policy, 191, 258
- and concentration, 202
- and firm size, 67–68, 204
- large firms, 67–68, 122–124, 194–195
- and mergers, 202–203, 207
- national, 248–249
- and prices, 195
- and producer republicanism, 144–145
- and size discrimination, 128–129
- small businesses, 67–68, 122–124
- and wages, 194
- Professional employment, 79
- Profits, corporate, 195–197
- and concentration, 202–204, 210
- and purpose of business, 251
- rate of, 203
- and R&D, 106, 196–197
- Progressive localism, 243–245, 247, 249–250, 254
- Progressive Party, 166–167
- Proletarians, 138
- Promise of American Life, The, 165
- Proxmire, William, 222
- Publicly traded companies, 229
- Public policy, 15–16, 226–239. See also Antitrust legislation; Government
- and campaign contributions, 150–152
- competition, 155, 256–262
- congressional legislation, 224–225
- contracting, 224, 232
- developmental state agenda, 255–256
- and efficiency, 236–237
- and entrepreneurial decline, 46, 52
- fairness, 233–235
- financing, 231–232
- job creation, 237–238
- regulatory exemptions, 226–229
- size neutrality, 238–239, 262–266
- and small businesses, 52, 126–131, 222, 262–266
- and special interests, 152–153
- taxation, 229–231
- and wage earners, 146
- “Pygmies, The
- Quarterly capitalism, 11, 252
- Rahman, Sabeel, 194, 218
- Railroads, 22, 213–214
- Rauh, Joshua, 79–80
- RCA, 31, 185–186
- Reagan, Ronald, 3, 46, 158, 178, 190
- Recession of 1937, 179–180
- Redistribution, income, 194–195, 235
- Refrigerators, 211
- Regulation. See also Public policy
- compliance, 263–264
- of corporations, 125–126, 165–166, 168–170, 227, 229
- firm costs, 233–234
- and firm growth, 237, 265
- and size neutrality, 263
- small business exemptions, 226–229
- and startups, 46–47
- streamlining, 263
- Regulatory Fairness Act of 1982, 227
- Reich, Robert, 4, 193, 205, 221
- Rent-seeking activities, 150, 194
- Report on the Concentration of Economic Power, 180
- Republicanism, 6. See also Democracy; Producer republicanism
- agrarian republicanism, 139, 141–142, 146
- and city-states, 141
- redefinition of, 146
- and wages, 137–139, 145–146
- Republican Party, 242, 253
- Research and development (R&D), 69
- and competition, 105
- and corporate profits, 106, 196–197
- corporations, 102–106, 190
- early-stage, 102–103
- federal support for, 256
- and firm size, 109–111, 113–114, 124
- innovation industries, 210–211
- small businesses, 109
- Retail industry, 51–52
- antitrust legislation, 157–158, 173
- and farmers, 171
- firm size, 43
- market concentration, 201
- scale economies, 209
- Retail pharmacies, 205
- Road to Serfdom, The, 180
- Robber barons, 22
- Robinson-Patman Act of 1936, 172–173, 181
- Roosevelt, Franklin D., 169–170, 178–180, 197
- Roosevelt, Theodore, 158, 164–166
- Roosevelt recession, 179
- Rothwell, Jonathan, 79
- Rural store keepers, 174
- Ryan, Paul, 13, 238, 242
- San Francisco, 112–113
- Sarnoff, David, 186
- Scale. See Economies of scale
- Scandals, corporate, 9
- Schoar, Antoinette, 53
- Schumacher, E. F., 14
- Schumpeter, Joseph, 21, 54, 56, 99–100, 102, 106–107, 178, 189, 211
- Schumpeterian rivalry, 211
- Schwartz, Bernard, 12, 252
- Schwegman Bros. v. Calvert Distillers, 173
- Sears, Roebuck, 171
- Second New Deal, 179
- Self-employed workers, 5, 36, 44, 72
- and antitrust policy, 191
- decline in, 137
- and democracy, 140, 153
- and exports, 117–118
- gig economy, 36, 119–120, 147
- global distribution, 117
- and industrialization, 119
- and information age, 96
- and poverty, 117
- trends in, 146–147
- and unemployment rate, 86
- Semiconductor industry, 98, 188, 217, 260–261
- Service industries, 42–43, 120–121
- Shane, Scott, 86, 88, 108, 123, 236
- Shapiro, Carl, 200
- Shapiro, Irving, 12, 252
- Shareholder value movement, 11–12
- Sherman Antitrust Act of 1890, 23–24, 155, 160–161, 166, 172, 182
- Shockley, William, 98
- Short-termism, 11–12
- Sidney, Algernon, 138
- Silicon Valley, 99
- Size neutrality, 238–239, 262–266
- Small Business Administration (SBA), 156, 182, 224, 228, 231–232, 265
- Small businesses
- and antitrust legislation, 160–161, 169, 177
- attitudes toward, 8–9, 221–224
- and bank lending, 47
- in bimodal economy, 20–21
- cybersecurity, 71
- diversity, 74–75
- and entrepreneurship, 53–54
- environmental protection, 70–71
- exports, 69–70
- government subsidies, 128
- growth, 64, 123–124
- high-growth, 89–90
- income inequality, 77–80, 118
- and information era, 32
- and innovation, 69, 107–112
- job benefits, 63–64, 66–67
- job creation, 15, 69, 81–94, 225, 237–238, 264
- job loss, 83–84, 87
- and large firms, 86, 90–93
- layoffs, 73
- local economic benefit, 68–69
- and local production, 37
- market/employment share, 35–36
- and market power, 219–220
- and mergers, 114–115
- as monopolists, 219–220
- output/employment share, 85
- owners’ attitude, 87–88
- patents, 108–110
- and politics, 3–6, 13, 149, 221, 239
- productivity, 67–68, 122–124
- profits, 204
- and public policy, 52, 126–131, 222, 262–266
- R&D, 109
- social responsibility, 75–76
- subsidies, 182
- taxation, 229–231
- tax compliance, 71–73
- tax incentives, 127
- and unemployment, 85–86
- unionization/training, 74
- wages, 64–66
- worker safety, 73–74
- Small Business Jobs Act, 230
- Small Business League, 232
- Small Business Paperwork Relief Act of 2002, 226
- Small Business Regulatory Fairness Act of 1996, 227–228
- Small industries, 37. See also Small businesses
- Small Is Beautiful, 14
- Small-is-beautiful view, 17, 267. See also Antimonopolist tradition
- and big business, 4–5
- political support for, 3–6
- representatives of, 159
- Small and medium-sized enterprises (SMEs). See Small businesses
- Smith, Adam, 13–14, 136, 260
- Social contract, 153
- Socialists, 162–163
- Social networking, 214
- Social responsibility, 75–76
- Software industry, 209, 214–215
- Song, Jae, 77–78
- Sony, 185
- South Korea, 65, 121, 123
- size discrimination, 128–129
- subsidized loans, 127–128
- tax credits, 127
- Soviet Union, 216
- Spain, 112, 122
- Special interests, 147–148, 152–153
- Staggers Act of 1980, 214
- Standard Oil, 104
- Staples, 52
- Startups, 44–60. See also Entrepreneurial decline; High-growth entrepreneurship
- and economic growth, 48–49, 53, 123–124
- employment share, 118
- entrepreneurial/routinized regimes, 57–58
- and government assistance, 15–16
- high-growth, 54–60, 264–265
- high-tech, 15, 55–57, 107
- information technology, 32
- and innovation, 54, 59, 99, 108–109
- and job creation/loss, 83–84, 86–90, 225
- manufacturing, 49–50, 58–59
- and monopolies, 47–48
- patents, 108–109
- rate decline, 44–53, 55
- and regulation, 46–47
- and small business favoritism, 225
- and techno-economic paradigms, 30–31, 57
- types of, 53–55
- State governments
- antitrust legislation, 157
- and competition, 217–218
- economic developmentalism, 254–255
- incorporation statutes, 23
- small business preferences, 265–266
- Steam, age of, 142
- Steam engines, 22
- Steam-powered factories, 32–33
- Stern, Scott, 54–55, 265
- Stigler, George, 183
- Stock market, 22. See also Markets
- Stoller, Matt, 207
- Structure-conduct-performance (S-C-P) school, 177–178, 182–183, 188–190
- Subsidies, government, 182. See also Government
- Sweezy, Paul, 33
- Switzerland, 208
- Taft, Robert, 7
- Tan, Elaine, 199
- Tanglewood Tales, The, 266
- Taxation
- corporate, 71–72, 195–196, 229–231, 262
- incentives, 230
- and size neutrality, 262
- small business, 229–231
- tax compliance, 71–73, 127, 230–231
- tax reform, 151
- Taxi industry, 209
- Taylor, Robert, 98
- Technocracy: An Interpretation, 163
- Technocracy movement, 163–164
- Techno-economic paradigms, 30–31, 57
- Technology. See also Information technology (IT); Innovation
- and antitrust legislation, 183–188
- and early-stage research, 102–103
- and entrepreneurial decline, 50–51
- and firm size, 27–29, 43–44, 52, 56–57, 59–60, 120, 143–144
- and industrialization, 143
- long-wave theory, 56–57, 59–60
- machine tools, 42
- and oligopolistic competition, 100
- and plant size, 68
- and prices, 26–27
- and producer republicanism, 142
- technological cycles, 55–57, 60
- Teegarden, H. B., 172
- Telecommunications industry, 212–213
- Television industry, 185–186
- Tesler, Larry, 96
- Thailand, 65, 123
- Theory of Economic Development, The, 107
- Theory of the Growth of the Firm, The, 20, 99–100
- Third Wave, The, 143
- Thompson, Derek, 47, 52, 192, 195
- Tire industry, 113
- Tobacco, 228
- Tocqueville, Alexis de, 140
- Toffler, Alvin, 143
- Tourism, 118
- Trade associations, 148–149
- Trade deficit, 215
- Traded sector industries, 38–39
- Trade liberalization, 244
- Transnational corporations, 244
- Transnational production, 34–35
- Transportation, 33, 244–245
- Traveler from Altruria, A, 163
- Traveling salesman, 160
- Trump, Donald, 3, 245–246, 250
- Trust, 125
- Trusts, 155, 160, 164. See also Corporations
- Trust: The Social Values and the Creation of Prosperity, 125
- Truth effect, 81
- Tsinghua Unigroup, 217
- Turnbull, Malcolm, 4
- Turner, Donald F., 182
- “2015 Index on Startup Activity, State Trends
- Tydings, Millard E., 160
- Unemployment, 85–86
- Unionization, 74, 164
- Unit banking, 158, 175, 177, 208
- United Kingdom
- employment share, 122
- income inequality, 77
- innovation, 113
- tax allowances, 127
- United States
- air travel, 206
- average firm/establishment, 37
- banking, 25, 206, 208
- broadband service, 205–206
- cartels, 24
- companies in, 19
- economic regions, 159
- employment diversity, 75
- employment trends, 35–36, 44
- exports, 69–70
- firm size, 35, 120–121
- and foreign competition, 215–216
- high-growth entrepreneurship, 55
- labor force, 20
- layoffs, 73
- manufacturing, 28, 49–50
- mergers, 23–27
- multinational trade, 34–35
- patents, 104, 108
- population growth, 19
- productivity, 122
- railroads, 22–23
- small businesses, 64
- tax evasion, 72
- technological research in, 103
- wages, 65–66, 77–78
- workforce training, 74
- United States v. Columbia Steel Co., 183
- United States v. Von’s Grocery Co., 183
- US Chamber of Commerce, 149
- Useem, Michael, 8
- US Steel, 25
- Vaheesen, Sandeep, 193
- Veblen, Thorstein, 163
- Verizon v. Trinko, 258
- Viard, Alan, 222
- Virtual corporation, 32
- Wages
- CEOs, 79–80
- and corporate profits, 196
- financial services, 79–80
- and firm age, 66
- and firm size, 64–66, 193–194
- income inequality, 77–80
- and land ownership, 139
- minimum wage, 264
- and monopolization, 193
- and multinational globalization, 35
- and productivity, 194
- professional/administrative, 77, 79
- and public policy, 146
- and republicanism, 137–139, 145–146
- Wall Street, 252
- Walmart, 171
- charity donations, 76
- Indian protectionism, 130
- profits, 203
- scale economies, 209
- wages and benefits, 64–66
- Warren, Elizabeth, 13, 181, 199
- Washington, George, 142
- Welch, Jack, 252
- Wellness benefits, 66
- Whitman, Marina, 7
- Whole Earth Catalog, 143
- Wiens, Jason, 44
- Wilson, Charlie, 10, 12, 252, 254
- Wilson, Woodrow, 159, 167–168
- Wine wholesalers, 220
- Women, employment of, 75
- Worker safety, 73–74
- Workforce training, 74
- Wozniak, Steve, 96
- W. R. Grace, 31
- Xerox, 187
- Xerox Alto, 96
- Xerox PARC, 96–98, 106
- Xerox Star, 97
- Yeoman republic, 140–142
- Young, John, 12, 252