Director in 1946 still treated monopoly as politically objectionable

Evidence

Director proffered two alternative explanations for industrial concentration: “Of course we could start from the position that existing concentration has already reached a point which makes it objectional from a political point of view, or again we may start from the position that the existing concentration results in the most efficient use of resources and does not eventuate in significant departures from competitive behavior.” In suggesting that the existing concentration was politically objectionable, Director showed he still nurtured a soft spot for classical liberalism. Considering this quote in the light of Director’s 1947 MPS lecture, we see that Director leaned more toward the notion that monopoly was more a part of the problem than of the solution. — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1100

Categorization

• XREF: Shows the intellectual ambiguity in the early Chicago School before it hardened into later antitrust positions — connects to the later Chicago School’s notorious tolerance of monopolies. — connects to: Director’s antitrust position and its shift marked a key departure from klassical liberalism — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin: The Making…, 1114

Broader Connections

• Director’s antitrust position and its shift marked a key departure from klassical liberalism #complicates (0.75) — Philip Mirowski & Dieter Plehwe (eds.), The Road from Mont Pèlerin, 1114