Organized Money The Corporate Mole On The Supreme Court
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May 15, 2025 David Seligman, the Executive Director of Toward Justice, dives into the transformative impact of the 1970s Powell memo on corporate power. He reveals how Justice Lewis Powell reshaped antitrust laws to favor corporations over worker rights. Discussion highlights include the ongoing effects of vertical restraints on healthcare and gig economies. Seligman also critiques the influence of Chicago school scholars on legal interpretations, illustrating how these historical shifts continue to affect economic equity and democracy in today's society.
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Powell Memo's Corporate Strategy
- The Powell memo prompted big business to buy into politics and legal reforms to strengthen corporate power.
- Lewis Powell actively reshaped corporate law from within the Supreme Court after his 1971 memo.
Pre-1973 Economic Landscape
- Pre-1973, there was stronger union presence and more small businesses maintaining a healthy middle class.
- The market was less dominated by megacorporations, fostering a more democratic economy.
Powell Memo Shaped Antitrust Law
- The Powell memo encouraged investments in conservative legal advocacy shaping antitrust to favor corporations.
- It spurred funding of think tanks like the Chicago School which influenced antitrust law for decades.