Monopoly

John Steele Gordon | September 2000

The game that has sold 200 million sets was born to teach its players about the evils of capitalism.

No country is so obsessed with the idea that monopoly is evil as the United States. The response of other industrializing societies to the development of economic hegemonies has been to regulate them, not to break them up.

The Deal of the Century

Ron Chernow | July/August 1998

The unexpected consequences of J.P.Morgan's deal to create U.S. Steel, which controlled 60% of the US market, have vibrated through every decade.

The Death of a Monopoly

John Steele Gordon | April 1997

AT&T protected its interests with the fiercest vigilance, and thereby helped bring itself down.

When MCI, the company that broke the monopoly that AT&T had on long-distance telephony in the United States and Canada, was sold recently, it went for $22 billion. That’s not bad for an operation that, less than three decades ago, was having trouble borrowing $35,000.

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Featured Authors

Acheson, Dean

Dean Acheson (1893-1971) was an attorney and statesman who served as Secretary of State from 1949 to 1953 under President Harry Truman. A key architect of the Truman Doctrine and the Marshall Plan, Acheson stressed the importance of multilateral organizations in the fight against totalitarianism. Prior to his service in the Truman Administration, Acheson clerked for Supreme Court Justice Louis Brandeis, worked at Washington law firm Covington & Burling, and served as Undersecretary of the Treasury for one year under President Franklin Roosevelt.

Ambrose, Stephen E.

Stephen E. Ambrose (1936-2002) was a historian and professor who wrote on military history, presidential history, and American expansion and foreign policy. Ambrose has been praised for his biographies of Presidents Eisenhower and Nixon, and for helping to galvanize interest in World War II.

Becker, Elizabeth

Elizabeth Becker is an award-winning journalist and the author of several books. Her history When The War Was Over: Cambodia and the Khmer Rouge won accolades from the Robert F. Kennedy book award, while her recent biography of female conflict journalists You Don’t Belong Here: How Three Women Rewrote the Story of War won the 2022 Sperber Book Prize and Harvard’s Goldsmith Book Prize. She is also the author of America’s Vietnam War: A Narrative History for young adults.

Bird, Kai

Kai Bird is a historian and Executive Director of Leon Levy Center for Biography at the City University of New York. He is best known for writing about the bombings of Hiroshima and Nagasaki, the Vietnam War, US-Middle East relations and biographies of political figures. Bird is the author of American Prometheus: The Triumph and Tragedy of J. Robert Oppenheimer, for which he won a Pulitzer Prize, and The Good Spy: The Life and Death of Robert Ames, a New York Times bestseller. His most recent book is The Outlier: The Unfinished Presidency of Jimmy Carter.

Blight, David W.

David W. Blight is the Class of 1954 Professor of American History and Director of the Gilder Lehrman Center for the Study of Slavery, Resistance & Abolition at Yale University. Recently, Blight has written A Slave No More: Two Men Who Escaped to Freedom, Including Their Narratives of Emancipation, and Race and Reunion: The Civil War in American Memory, which won the Bancroft Prize, the Abraham Lincoln Prize, and the Frederick Douglass Prize.