Friday, May 04, 2007

200 Million Americans Can't Be Felons

I'll say it again... read this.

Exactly 100 years ago, economist, lawyer, and historian Brooks Adams, great-grandson of revolutionary John Adams and a close advisor to Roosevelt, was in pitched battle against the U.S. railroads, who were charging extortionary rates for shippers to and from points between Chicago and the West Coast, where they held monopoly power. Adams wrote:

"There is no ancient and abstract principle of right and wrong, which can safely be deduced as a guide to regulate the relations of railways and monopolies among our people, because railways and monopolies are products of forces unknown in former times. The character of competition has changed, and the law must change to meet it, or collapse. Such is my general theory."

At 4 AM local time and suffering the delirium of jet lag, it's my general theory as well.

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