Brave New Corporate World: An Assesment of Industrial Policy

Abstract

Public concern with the dangers of corporate power reached a feverish pitch in the early 1970s. Bills designed to control perceived abuses were passed by Congress, establishing the Environmental Protection Agency (EPA) and the Occupational Safety and Health Agency (OSHA) and curbing the widespread practice of overseas bribery. This antimonopoly fervor peaked with the attempt to nationalize the oil industry, and with Congressional consideration of the Hart Deconcentration Act. Though these efforts failed, they placed the monopoly problem at the center of the liberal agenda.

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