“Antitrust” is a word that has long outlived its usefulness. We need a new word – or set of words – that captures society’s imperative to regulate economic and social relations with its corporate creations.

Who recalls why we’re against trusts? At least beyond a vague, queasy feeling about collusion, hidden power, price fixing and political corruption…

In the US, business trusts arose in the 1880’s and 90’s to hold controlling interests in corporations. At that time, state laws existed that restricted ownership of corporations to in-state residents, limited the corporation’s ability to do business across state lines, and imposed capitalization restrictions. Since the trusts were not incorporated, however, these restrictions did not apply to them.

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Some years ago, I whined to a friend, a management consultant, about some management problems I was having. With a look of pity for the forgetful, he raised his hand and spread his fingers as far as they would go.

“What’s that mean?”

“Maslow – the span of control.”

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