Anti-trust legislation was created partly out of revenge

WSJ letter to the editor.

"There is another important similarity between the trustbusting of the early 20th and 21st centuries, beyond the fact that the large companies in both eras were more productive and lowered prices for consumers: Politicians were also self-interested and initiated antitrust legislation out of spite. Partial revenge motivations still abound.

Sen. John Sherman, who had hoped to be the Republican presidential nominee in 1888, pushed for an antitrust law in 1890 partly to embarrass his rival Russell Alger, who was associated with the Diamond Match Company and also served as a senator, governor and later secretary of war. Theodore Roosevelt prosecuted Standard Oil in part because it was not supportive of his first term. Many politicians are now initiating antitrust legislation against the big tech companies because they either believe that their platforms helped Donald Trump win in 2016 or are angry at the liberal bias of the owners. Misguided policies and self-interested politicians are eternal constants throughout history.

Asst. Prof. Patrick Newman
Florida Southern College
Lakeland, Fla."