By John McCaslin
THE WASHINGTON TIMES
The resumption of the Microsoft trial has prompted Marc Beauchamp, director of communications for the North American Securities Administrators Association, to reread the 1964 free market classic, "Tom Smith and this Incredible Bread Machine," by R.W. Grant.
"This passage seems particularly apt," says Mr. Beauchamp. "It's when Tom, inventor of a colossally successful bread machine, visits an antitrust lawyer in D.C.
'The rule of law in complex times,
'Has proved itself deficient.
'We much prefer the rule of men!
'It's vastly more efficient!
'Now, let me state the present rules,
'The lawyer then went on,
'These very simple guidelines
'You can rely upon:
'You're gouging on your prices if
'You charge more than the rest.
'But it's unfair competition
'If you think you can charge less!
'A second point that we would make
'To help avoid confusion:
'Don't try to charge the same amount!
'That would be collusion!
'You must compete, but not too much,
'For, if you do, you see,
'Then the market would be yours
'And that's monopoly!' "
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