Louis D. Brandeis Quotes
There must be reasonable restrictions upon competition else we shall see competition destroyed.
Louis D. Brandeis, 1856-1941, U. S. Supreme Court Justice, Letter to Robert M. La Follette, May 27, 1913
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Brandeis was U. S. Supreme Court Justice Louis D. Brandeis, 1856-1941, who wrote that competition would control prices if only healthy competition could be maintained—the problem was resolved by both increasing competition and much more stringent regulation of corporations.
To the modern reader utterances such as this from a Conservative Prime Minister seem astounding. However, the Great Depression existed in Canada as well as the United States, and Franklin Delano Roosevelt was not the only world leader who would reach the conclusion that business and capitalism must be profoundly regulated and the system changed if it was to be saved.
A justification of some mergers that would lessen competition was that the consumer would not be harmed as the merger will produce cost savings that could be passed on to the consumers. However, others argued that if the competition were reduced there would be no pressure on the merged companies to pass any savings along to the consumer. However, in this opinion, Justice Douglas set forth a basic principle of regulatory law: Even though the merger might have some consumer benefits, that is still no justification for doing.
Here, an officer of a large corporation (Pittsburgh Plate Glass) makes the classic argument of large corporations about the anti-trust laws which prevent them from using their economic power to crush competition. The claim that the large corporations are at a disadvantage and handicapped in competing with small companies is easily refuted by the bankruptcy rate of small businesses which is large, and that of large corporations which is very small, and that of major monopolies which is virtually zero.
This volume roughly is to Islam what the Gospels are to Christianity. To most Muslims The Sunnah is a collection of holy material on the life of Mohammed. It is not of the force or importance as the Koran, but it is revered.
See {642189} where Sherman explained some of the reasons for the law.
Louis Dembitz Brandeis was an American lawyer and associate justice on the Supreme Court of the United States from 1916 to 1939. He was born in Louisville, Kentucky, to Jewish immigrant parents from Bohemia (now in the Czech Republic), who raised him in a secular home. He attended Harvard Law School, graduating at the age of 20 with the highest grade point average in the law school's history. Brandeis settled in Boston, where he founded a law firm (that is still in practice today as Nutter McClennen & Fish) and became a recognized lawyer through his work on progressive social causes.
