Many people believe that possession of unchallenged economic power deadens initiative, discourages thrift and depresses energy; that immunity from competition is a narcotic, and rivalry is a stimulant, to industrial progress; that the spur of constant stress is necessary to counteract an inevitable disposition to let well enough alone. Such people believe that competitors, versed in the craft as no consumer can be, will be quick to detect opportunities for saving and new shifts in production, and be eager to profit by them. […] True, it might have been thought adequate to condemn only those monopolies which could not show that they had exercised the highest possible ingenuity, had adopted every possible economy, had anticipated every conceivable improvement, stimulated every possible demand. No doubt, that would be one way of dealing with the matter, although it would imply constant scrutiny and constant supervision, such as courts are unable to provide. Be that as it may, that was not the way that Congress chose; it did not condone “good trusts” and condemn “bad” ones; it forbad all.
Learned Hand (1872-1961) American jurist
United States v. Aluminum Co. of America, 148 F.2d 416, 427 (1945)
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Quotations about:
monopoly
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It is a basic economic proposition that as long as a relatively few men own the railroads, the telegraph, the telephone, own the oil fields and the gas fields and the steel mills and the sugar refineries and the leather tanneries — own, in short, the sources and means of life — they will corrupt our politics, they will enslave the working class, they will impoverish and debase society, they will do all things that are needful to perpetuate their power as the economic masters and the political rulers of the people.
Eugene V. Debs (1855-1926) American union leader, activist, socialist, politician
“The Issue,” Speech, Girard, Kansas (23 May 1908)
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Thus, then, stands the case. It is good, that authors should be remunerated; and the least exceptionable way of remunerating them is by a monopoly. Yet monopoly is an evil. For the sake of the good we must submit to the evil; but the evil ought not to last a day longer than is necessary for the purpose of securing the good.
Thomas Babington Macaulay (1800-1859) English writer and politician
Speech on the Copyright Bill (5 Feb 1841)
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