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Fair and Effective Use of Present Antitrust Procedure, 47 Yale Law Journal 1294 (1938)


No government policy has received such long and unquestioned public acceptance as that expressed by the Sherman Antitrust Act. The domination of market by small groups and the concentration of wealth and power in a few have been a matter of continuing public concern for over 40 years. However, in spite of a governmental religion officially dedicated to the economic independence of individuals, the growth of great organizations in America has been amazing. The Internal Revenue statistics for 1935 show that over 50% of all net corporate income is earned by less than one-tenth of 1% of the corporations reporting, and 84% of the aggregate corporate net profits is earned by less than 4% of the corporations reporting. We have become a nation of employees. Our private property, our security in our old age and the care of our families when we die usually consist of claims held directly or indirectly against great industrial organizations.

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