Study of Monopoly Power

INTRODUCTION

Investigations of monopoly have not been lacking in recent years, but inquiries in this field which have had as their aim concrete legislation have been few. While the proceedings of the Temporary National Economic Committee were of broad scope and great accomplishment in the fact-finding field, it was not a legislative committee. The significance of H. Res. 137 and H. Res. 156 (81st Cong.), therefore, cannot be overlooked. For these two resolutions have led to the establishment of the Subcommittee on Study of Monopoly Power of the House Judiciary Committee. Armed with subpena power, this subcommittee has been directed to make a searching inquiry into the present antitrust laws and to report the results of its studies and investigations with such recommendations for legislation as may be deemed desirable.

In the short time of its existence, the subcommittee has taken large strides toward its ultimate goal of legislation. Hearings were held from July 11 through August 5, 1949. During this period, representatives from various interests with many points of view appeared and testified before the subcommittee. Their provocative suggestions and ideas are all contained in this volume of the hearings. A special meeting of the subcommittee was also convened on August 24, 1949, to receive a significant report from the Federal Trade Commission on the extent of corporate concentration in the United States as of 1947. The explanation of this report by representatives of the Commission is also included as part of the subcommittee hearings.

The subcommittee staff has endeavored to make this volume of lasting value and of increased utility to those interested in the general subject of monopoly and to the public. It has therefore included as part of this publication a concise digest of the daily testimony taken before the subcommittee for those to whom time does not permit a thorough perusal of the entire text of the hearings. Usefulness of the digest has been enhanced by the addition of marginal page references to the complete text.

In addition, an organized compilation of all Federal laws bearing upon antitrust and its enforcement has been prepared for inclusion in this volume so that relevant statutory provisions are made available in a single place. Included also is an alphabetical topical index to facilitate reference to the body of the hearings and, as well, a recapitulation of the conclusions and recommendations of all witnesses. It is believed that the inclusion of such useful features in the printing of a congressional hearing is novel.

It must be emphasized, finally, that none of the material appearing herein in any way reflects the conclusions of the subcommittee or any of its members except direct statements made by the latter in the course of the hearings. The subcommittee itself has garnered much knowledge and many fertile suggestions during these preliminary hearings. We hope that this and succeeding volumes will help to bring this vital information home to the American people who must ultimately determine our economic policy.

Grāmatas