Antitrust and the Formation of the Postwar World (Columbia Studies in Contemporary American History)

289 Pages·2003·1 MB·English

by  Wyatt Wells

A N T I T R U S T
the formation of the postwar world
&
W YAT T W E L L S
Antitrust and the Formation of the Postwar World
columbia studies in contemporary american history
columbia studies in contemporary american history
AlanBrinkley,GeneralEditor
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theJapaneseEmpire.1988
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theThirdWorld,1947–1960 1989
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1909–1945 2000
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Antitrust and the Formation
of the Postwar World
Wyatt Wells
c o l u m b i a u n i v e r s i t y p r e s s n e w y o r k
columbia university press
PublishersSince1893
NewYork Chichester,WestSussex
Copyright(cid:1)2002ColumbiaUniversityPress
Allrightsreserved
LibraryofCongressCataloging-in-PublicationData
Wells,WyattC.
Antitrustandtheformationofthepostwarworld/
WyattWells.
p.cm.—(Columbiastudiesincontemporary
Americanhistoryseries)
Includesbibliographicalreferences(p.)andindex.
ISBN0–231–12398–1(acid-freepaper)
1.Antitrustlaw—UnitedStates—History.2.Conflict
oflaws—Antitrustlaw—History.3.Competition,
Unfair—History.4.Cartels—History. I.Title.
II.ColumbiastudiesincontemporaryAmerican
history.
KF1652.W452001
343.73(cid:2)0721—dc21
2001032520
A
ColumbiaUniversityPressbooksareprinted
onpermanentanddurableacid-freepaper.
PrintedintheUnitedStatesofAmerica
c 10 9 8 7 6 5 4 3 2 1
For my parents, Charles and Ann,
and for my wife, Barbara

Contents
Preface ix
Introduction 1
1. TheCartelIdeal 4
2. TheContextofAntitrust 27
3. ReformversusMobilization 43
4. MakingtheWorldSafeforCompetition 90
5. AmongUnbelievers:AntitrustinGermanyandJapan 137
6. TheNewOrderinPractice:TheCasesofOilandSteel 187
Conclusions 206
Notes 217
EssayonSources 257
Index 267

Preface
The inspiration for this book came from W. J. Reader’sIm-
perialChemicalIndustries:AHistory,whichIfirstreadingraduateschool.
Among other matters,thesevolumeschronicletheU.S.government’santi-
trust suit againstImperialChemicalIndustriesandDuPontin1944,atthe
heightofWorldWarII.Thestrangenessofthecasestruckme.DuPontand
ICI were two of the Allies’ chief munitions suppliers; ICI did no business
in the United States; and the arrangements in question involved not war
production but contracts about which Washington had known for years.
Several yearslater,whileteachingacourseonWorldWarII,Itookupthe
matteragain.Ithoughttoproduceanarticleonthisintriguingepisode,but
itsoonbecameclearthattheissueswentwellbeyondoneantitrustcaseand,
indeed, involved the basic shape of the world economy after 1945. Seven
years of work and countless revisions and reappraisals later, the result is
AntitrustandtheFormationofthePostwarWorld.
Manypeopleandinstitutionscontributedtothisbook.Atdifferenttimes
I have received valuable advice from Paul Conkin, Otis Graham, Dewey
Grantham, David Hoth, William Leuchtenburg, Thomas McCraw, David
Moss,HuwPill,BruceScott,DeboraSpar,RichardVietor,AnnWells,Har-
wellWells,andLouisWells.ThestaffofColumbiaUniversityPressandits
readersalsomademanywisesuggestions.LizaandNathanielChapmanand
Ellen and Swift Martin were sources of bottomless hospitality whileI con-
ducted research. The Franklin D. Roosevelt Library, the Harry S. Truman
Presidential Library, the Hagley Museum and Library, theAmericanHeri-