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Historical Suspicion of Corporations
- Americans have always been wary of corporate power, initially due to government-granted charters.
- This historical suspicion stemmed from concerns about potential abuse by powerful corporations.
Packers and Stockyards Act
- The Packers and Stockyards Act provides added protections for farmers against unfair practices.
- This act focuses on fairness, unlike antitrust laws that solely focus on competition.
Shifting Antitrust Focus
- Antitrust policy has shifted from solely focusing on consumer welfare to considering broader impacts.
- Monopsony, where there's one major buyer, is now a key concern, not just monopoly.