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The revisionist historian Gabriel Kolko coined the term "political capitalism" to describe the behavior of big industry to align with the state to secure profits. In September 16th edition of the New York Times, there is an article about the desire of some within industry to seek regulations, which they will then be able to control.
Thanks to Rob Bradley for this pointer.
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Yes, check out who benefits. According to legend the move to trust busting was was not only pushed by anti-capitalists but also by business interests that were suffering from the competition of the trusts. Aided by the idea that bigness equals monopoly (like Microsoft).
Posted by: Rafe Champion | September 17, 2007 at 06:32 AM
PS. http://news.yahoo.com/s/ap/20070917/ap_on_bi_ge/eu_microsoft
Posted by: Rafe Champion | September 17, 2007 at 06:38 AM