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We have here the problem of bigness. Its lesson should by now have been burned into our memory by Brandeis. The Curse of Bigness' shows how size can become a menace – both industrial and social. It can be an industrial menace because it creates gross inequalities against existing or putative competitors. It can be a social menace – because of its control of prices. Control of prices in the steel industry is powerful leverage on our economy. For the price of steel determines the price of hundreds of other articles. Our price level determines in large measure whether we have prosperity or depression – an economy of abundance or scarcity. Size in steel should therefore be jealously watched. In final analysis, size in steel is the measure of the power of a handful of men over our economy. That power can be utilized with lightning speed. It can be benign or it can be dangerous. The philosophy of the Sherman Act is that it should not exist. For all power tends to develop into a government in itself. Power that controls the economy should be in the hands of elected representatives of the people, not in the hands of an industrial oligarchy. Industrial power should be decentralized. It should be scattered into many hands so that the fortunes of the people will not be dependent on the whim or caprice, the political prejudices, the emotional stability of a few self-appointed men. The fact that they are not vicious men but respectable and social minded is irrelevant. That is the philosophy and the command of the Sherman Act. It is founded on a theory of hostility to the concentration in private hands of power so great that only a government of the people should have it.
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Dissenting, United States v. Columbia Steel Co., 334 U.S. 495 (1948).

 

William O. Douglas

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Through size, corporations, once merely an efficient tool employed by individuals in the conduct of private business have become an institution-an institution which has brought such concentration of economic power that so-called private corporations are sometimes able to dominate the state. The typical business corporation of the last century, owned by a small group of individuals, managed by their owners, and limited in size by their private wealth, is being supplanted by huge concerns in which the lives of tens or hundreds of thousands of employees and the property of tens of hundreds of thousands of investors are subjected, through the corporate mechanism, to the control of a few men. Ownership has been separated from control; and this separation has removed many of the checks which formerly operated to curb the misuse of wealth and power. And, as ownership of the shares is becoming continually more dispersed, the power which formerly accompanied ownership is becoming increasingly concentrated in the hands of a few... [and] coincident with the growth of these giant corporations, there has occurred a marked concentration of individual wealth; and that the resulting disparity in incomes is a major cause of the existing depression.

 

Louis Brandeis

 

The mere possession of power tends to produce a love of power, which is a very dangerous motive, because the only sure proof of power consists in preventing others from doing what they wish to do. The essential theory of democracy is the diffusion of power among the whole people, so that the evils produced by one man's possession of great power shall be obviated. But the diffusion of power through democracy is only effective when the voters take an interest in the question involved. When the question does not interest them, they do not attempt to control the administration, and all actual power passes into the hands of officials.

 

Bertrand Russell

 

...the power to control the supply of money, which is one of the fundamental aspects of sovereignty, has passed from government into other hands; and therefore new institutions must be set up which will in effect exercise some of the major functions of government. They would set the level of public expenditure, and settle fiscal policy, the exercise of taxing and borrowing powers of the state, since these are indisputedly the mechanism by which the money supply is determined. But they would do more than this. They would be supreme over the economic ends and the social structure of society: for by fixing prices and incomes they would have to replace the entire automatic system of the market and supply and demand—be that good or evil—and put in its place a series of value judgments, economic or social, which they themselves would have to make...There is a specific term for this sort of polity. It is, of course, totalitarian, because it must deliberately and consciously determine the totality of the actions and activities of the members of the community; but it is a particular kind of totalitarian regime, one, namely, in which authority is exercised and the decisions are taken by a hierarchy of unions or corporations—to which, indeed, on this theory the effective power has already passed. For this particular kind of totalitarianism the Twentieth Century has a name. That name is "fascist".

 

Enoch Powell

 

That the power to tax involves the power to destroy; that the power to destroy may defeat and render useless the power to create; that there is a plain repugnance in conferring on one Government a power to control the constitutional measures of another, which other, with respect to those very measures, is declared to be supreme over that which exerts the control, are propositions not to be denied. But all inconsistencies are to be reconciled by the magic of the word CONFIDENCE. Taxation, it is said, does not necessarily and unavoidably destroy. To carry it to the excess of destruction would be an abuse, to presume which would banish that confidence which is essential to all Government. But is this a case of confidence? Would the people of any one State trust those of another with a power to control the most insignificant operations of their State Government? We know they would not. Why, then, should we suppose that the people of any one State should be willing to trust those of another with a power to control the operations of a Government to which they have confided their most important and most valuable interests? In the Legislature of the Union alone are all represented. The Legislature of the Union alone, therefore, can be trusted by the people with the power of controlling measures which concern all, in the confidence that it will not be abused. This, then, is not a case of confidence, and we must consider it is as it really is.

 

John Marshall

 

The greatest evils in our industrial system to-day are those which rise from the abuses of aggregated wealth; and our great problem is to overcome these evils and cut out these abuses. No one man can deal with this matter. It is the affair of the people as a whole. When aggregated wealth demands what is unfair, its immense power can be met only by the still greater power of the people as a whole, exerted in the only way it can be exerted, through the Government; and we must be resolutely prepared to use the power of the Government to any needed extent, even though it be necessary to tread paths which are yet untrod. The complete change in economic conditions means that governmental methods never yet resorted to may have to be employed in order to deal with them. We can not tolerate anything approaching a monopoly, especially in the necessaries of life, except on terms of such thoroughgoing governmental control as will absolutely safe guard every right of the public. Moreover, one of the most sinister manifestations of great corporate wealth during recent years has been its tendency to interfere and dominate in politics.

 

Theodore Roosevelt