If Silicon Valley CEOs were all exceptional, you’d expect the industry itself to be unique in its success and durability. It’s not.
Not all of the political revolutions of the 1970s were peaceful: Augusto Pinochet staged a coup in Chile, deposing elected president Salvador Allende, slaughtering 40,000 of his supporters, imprisoning 80,000 ordinary people in gulags, and torturing tens of thousands more.
Bork’s investors consolidated their gains. They sponsored economics chairs and whole economics departments and created the Manne seminars, an annual junket in Florida where federal judges were treated to luxury accommodations and “continuing education” workshops on Bork’s unhinged theories. Bork and his defenders assured us that decades of sustained monopolism would produce an incredible bounty for all: efficient, gigantic, vertically integrated firms offering goods and services at fantastically low prices, to the benefit of all.
pharmaceuticals, health insurers, appliances, athletic shoes, defense contractors, book publishing, booze, drug stores, office supplies, eyeglasses, LCD glass, glass bottles, vitamin C, car parts, bottle caps, airlines, railroads, mattresses, Lasik lasers, cowboy boots, and candy.
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