Notes

INTRODUCTION

1. Philip Rucker, “Mitt Romney Says ‘Corporations Are People’ at Iowa State Fair,” Washington Post, August 11, 2011.

2. On the intellectual history of this dichotomy, see in particular Daniel T. Rodgers, The Age of Fracture (Cambridge, MA: Harvard University Press, 2011), 41–47.

3. On the state of the field of the history of American conservatism, see especially Kim Phillips-Fein, “Conservatism: A Round Table,” Journal of American History 98:3 (December 2011): 723–73 and Julian E. Zelizer, “Reflections: Rethinking the History of American Conservatism,” Reviews in American History 38:2 (June 2010): 367–92.

4. Historians disagree sharply about the place of race and racism among economic conservatives, particularly business leaders. Jennifer Delton has recently argued that many business leaders voluntarily and cheerfully rejected racially exclusive employment practices and embraced inclusiveness in the second half of the twentieth century. Nancy MacLean, to the contrary, documents the persistence of racism within the business world and many business leaders’ ardent opposition to affirmative action policies. Jennifer A. Delton, Racial Integration in Corporate America, 1940–1990 (Cambridge: Cambridge University Press, 2009); Nancy MacLean, Freedom Is Not Enough: The Opening of the American Workplace (Cambridge, MA: Harvard University Press, 2006).

5. Alan Brinkley, The End of Reform: New Deal Liberalism in Recession and War (New York: Vintage Books, 1995).

6. On think tanks, see Alice O’Connor, “Financing the Counter-Revolution,” in Rightward Bound: Making America Conservative in the 1970s, ed. Bruce J. Schulman and Julian E. Zelizer (Cambridge, MA: Harvard University Press, 2008), 148–68. On corporate political representation, see Cathie Martin, Shifting the Burden: The Struggle over Growth and Corporate Taxation (Chicago: University of Chicago Press, 1991), 119–20.

7. On business associations, multinational corporations, and international economic policy, see Vernie Oliveiro, “The United States, Multinational Corporations, and the Politics of Globalization in the 1970s” (Ph.D. diss. Harvard University, 2010). On capital mobility, see Jefferson Cowie, Capital Moves: RCA’s Seventy-Year Quest for Cheap Labor (New York: New Press, 1999) and Elizabeth Tandy Shermer, Sunbelt Capitalism: Phoenix and the Transformation of American Politics (Philadelphia: University of Pennsylvania Press, 2013).

8. Jeffrey H. Birnbaum, The Lobbyists: How Influence Peddlers Get Their Way in Washington (New York: Random House, 1992); Peter Grier, “The Lobbyist throughout History: Villainy and Virtue,” Christian Science Monitor, September 28, 2009.

9. Lewis Anthony Dexter, How Organizations Are Represented in Washington: Toward a Broader Understanding of the Seeking of Influence and of Patterns of Representation (1969; Lanham, MD: University Press of America, 1987), 64; John M. de Figueiredo, “Lobbying and Information in Politics,” Business and Politics 4:2 (2002): 125–29.

10. Clive S. Thomas, “Interest Group Regulation across the United States: Rationale, Development and Consequences,” Parliamentary Affairs 51:4 (1998): 500–515; Birnbaum, The Lobbyists, 13.

11. George Thayer, Who Shakes the Money Tree? American Campaign Financing Practices from 1789 to the Present (New York: Simon and Schuster, 1973); Stephen Ansolabehere, John M. de Figueiredo, and James M. Snyder Jr., “Why Is There So Little Money in U.S. Politics?” Journal of American Economic Perspectives 17:1 (Winter 2003): 105–30.

12. Stephen Ansolabehere, James M. Snyder, and Micky Tipathi, “Are PAC Contributions and Lobbying Linked? New Evidence from the 1995 Lobby Disclosure Act,” Business and Politics 4:2 (August 2002): 131–55.

13. Kay Lehman Schlozman and John T. Tierney, Organized Interests and American Democracy (New York: Harper and Row, 1986).

14. David B. Yoffie and Sigrid Bergenstein, “Creating Political Advantage: The Rise of the Corporate Political Entrepreneur,” California Management Review 28:1 (Fall 1985): 124–39.

CHAPTER 1

The chapter epigraph is taken from Joseph Coors, “A Call to Action,” National Association of Manufacturers Public Affairs Conference, October 24, 1975, box 119, NAM.

1. Lewis Powell to Eugene Sydnor, “Confidential Memorandum: Attack on American Free Enterprise System,” August 23, 1971, series 2, box 28, USCOC.

2. Anonymous executive quoted in Leonard Silk and David Vogel, Ethics and Profits: The Crisis of Confidence in American Business (New York: Simon and Schuster, 1976), 71.

3. William J. Baroody Sr., “Industry’s Future: The Issue Is Survival,” speech at the National Association of Manufacturers Public Affairs Conference, October 22, 1975, box 119, NAM.

4. Senator James L. Buckley, Address to the Business Council, Hot Springs, Virginia, October 11, 1974, enclosed in Wallace Bates to Members of the Policy Committee, January 23, 1975, 1975 Correspondence, BRA.

5. Powell to Sydnor, “Confidential Memorandum.”

6. As historian Wendy L. Wall has demonstrated, the term “free enterprise system” only became common in the United States in the 1930s, largely through the deliberate work of anti–New Deal business leaders. See Wall, Inventing the “American Way”: The Politics of Consensus from the New Deal to the Civil Rights Movement (Oxford: Oxford University Press, 2008), 48–49. Lacking a rigorous definition, the phrase generally evoked a “liberal market economy,” in the phrase of political scientists, to be distinguished from “managed market economies” that, while non-socialist, entailed a stronger regulatory and planning role for the state. For many, the term carried a meaning similar to the old-fashioned term “laissez-faire” without the stigma of heartlessness and law-of-the-jungle economic chaos associated with the late nineteenth century. Readers interested in social science discussions of “liberal” and “managed” market economies should see Peter A. Hall and David Soskice, eds., Varieties of Capitalism: The Institutional Foundations of Comparative Advantage (New York: Oxford University Press, 2001). On the intellectual history of “laissez-faire” economics in the twentieth century, see in particular Angus Burgin, The Great Persuasion: Reinventing Free Markets since the Depression (Cambridge, MA: Harvard University Press, 2012).

7. “Industry Unites for Good of All: 15,000 Employers Combine in Giant Band for Mutual Aid,” New York Times, November 16, 1916; “Industrial Board Planned: Will Deal with State and National Law Makers,” Washington Post, November 16, 1916.

8. Silk and Vogel, Ethics and Profits, 105, 126. For similar public opinion polls, see Seymour Martin Lipset and William Schneider, The Confidence Gap: Business, Labor, and Government in the Public Mind (Baltimore: Johns Hopkins University Press, 1987) and “Confidence in Leaders of Ten Institutions, 1966–84,” Robert M. Teeter Papers, box 132, file Selected Issues: Issues/Confidence in Institutions (1), GRF.

9. H. M. Gitelman, “Management’s Crisis of Confidence and the Origin of the National Industrial Conference Board, 1914–1916,” Business History Review 58:2 (Summer 1984): 153–77.

10. Kim Phillips-Fein, Invisible Hands: The Making of the Conservative Movement from the New Deal to Reagan (New York: W. W. Norton, 2009), 5.

11. Alfred D. Chandler Jr., “Government versus Business: An American Phenomenon,” in Business and Public Policy, ed. John T. Dunlop (Cambridge, MA: Harvard University Press, 1980), 1–11; Sanford M. Jacoby, “American Exceptionalism Revisited: The Importance of Management,” in Masters to Managers: Historical and Comparative Perspectives on American Employers, ed. Sanford M. Jacoby (New York: Columbia University Press, 1991), 173–200.

12. See, among many, Kim McQuaid, Big Business and Presidential Power: From FDR to Reagan (New York: Morrow, 1982); Martin J. Sklar, The Corporate Reconstruction of American Capitalism, 1890–1916: The Market, the Law, and Politics (Cambridge: Cambridge University Press, 1988); Richard R. John, Network Nation: Inventing American Telecommunications (Cambridge, MA: Harvard University Press, 2010); and Robert M. Collins, More: The Politics of Economic Growth in Postwar America (New York: Oxford University Press, 2000).

13. Silk and Vogel, Ethics and Profits, 65.

14. See Robert M. Collins, The Business Response to Keynes, 1929–1964 (New York: Columbia University Press, 1981); McQuaid, Big Business and Presidential Power; Lizabeth Cohen, A Consumers’ Republic: The Politics of Mass Consumption in Postwar America (New York: Vintage Books, 2003); Brinkley, The End of Reform.

15. Elizabeth A. Fones-Wolf, Selling Free Enterprise: The Business Assault on Labor and Liberalism, 1945–60 (Urbana: University of Illinois Press, 1994).

16. Phillips-Fein, Invisible Hands; Meg Jacobs, Pocketbook Politics: Economic Citizenship in Twentieth-Century America (Princeton: Princeton University Press, 2005); Cowie, Capital Moves.

17. See McQuaid, Big Business and Presidential Power; Collins, More.

18. Jonathan Soffer, “The National Association of Manufacturers and the Militarization of American Conservatism,” Business History Review 75:4 (Winter 2001): 775–805.

19. David Vogel, Fluctuating Fortunes: The Political Power of Business in America (New York: Basic Books, 1989), 33.

20. Judith Stein, Pivotal Decade: How the United States Traded Factories for Finance in the Seventies (New Haven: Yale University Press, 2010).

21. Herman E. Krooss, Executive Opinion: What Business Leaders Said and Thought on Economic Issues, 1920s–1960s (New York: Doubleday, 1970), 252; “Business: J. P. Morgan Joins with Guaranty Trust,” Time, December 29, 1958.

22. Hobart Rowen, The Free Enterprisers: Kennedy, Johnson, and the Business Establishment (New York: Putnam, 1964), 28–30. On the campaign motto, see “Politics: Who’s Moving Where?” Time, September 7, 1962.

23. Rowen, The Free Enterprisers, 279.

24. For an interesting psycho-biographical discussion of Nixon’s social status anxieties that explains his general antipathy toward the business world, see Rick Perlstein, Nixonland: The Rise of a President and the Fracturing of America (New York: Scribner, 2008). See also David Greenberg, Nixon’s Shadow: The History of an Image (New York: W. W. Norton, 2003).

25. Krooss, Executive Opinion, 252.

26. Vogel, Fluctuating Fortunes, 17; Rowen, The Free Enterprisers, 20–22.

27. Elizabeth Tandy Shermer, “ ‘Take Government Out of Business by Putting Business into Government’: Local Boosters, National CEOs, Experts, and the Politics of Mid-Century Capital Mobility,” in What’s Good for Business: Business and Politics since World War II, ed. Kim Phillips-Fein and Julian E. Zelizer (New York: Oxford University Press, 2012), 91–106; Tami Friedman, “Exploiting the North-South Differential: Corporate Power, Southern Politics, and the Decline of Organized Labor after World War II,” Journal of American History 95:2 (September 2008): 323–48.

28. McQuaid, Big Business and Presidential Power, 30, 64. Thirty years after its publication, McQuaid’s examination of the BAC remains the most authoritative account of this organization from the New Deal through the 1970s. On the BAC in the 1930s, see also Collins, The Business Response to Keynes, 56–62.

29. McQuaid, Big Business and Presidential Power, 199–202; Rowen, The Free Enterprisers, 61–74; Vogel, Fluctuating Fortunes, 18–19.

30. On the steel industry before the New Deal, see David Brody, Steelworkers in America: The Nonunion Era (Cambridge, MA: Harvard University Press, 1960). On the 1952 crisis and the importance of corporate public relations, see especially Karen S. Miller, The Voice of Business: Hill & Knowlton and Postwar Public Relations (Chapel Hill: University of North Carolina Press, 1999).

31. John F. Kennedy, “The President’s News Conference,” April 11, 1962, in John Woolley and Gerhard Peters, The American Presidency Project.

32. Rowen, The Free Enterprisers, 104; McQuaid, Big Business and Presidential Power, 205–12.

33. On this campaign and the rightward shift in the Republican Party in the early 1960s, see especially Lisa McGirr, Suburban Warriors: The Origins of the New American Right (Princeton: Princeton University Press, 2001).

34. Rowen, The Free Enterprisers, 280.

35. Joe Califano to Lyndon Johnson, January 15, 1966, BE 4 2/26/65–7/6/66, LBJ. On Johnson’s fiscal policies, see Robert Collins, “The Economic Crisis of 1968 and the Waning of the ‘American Century,’ ” American Historical Review 101:2 (April 1996): 396–422, and Martin, Shifting the Burden, 52–106.

36. Dominique A. Tobbell, Pills, Power, and Policy: The Struggle for Drug Reform in Cold War America and Its Consequences (Berkeley: University of California Press, 2012), 91–94; Jennifer Klein, For All These Rights: Business, Labor, and the Shaping of America’s Public-Private Welfare State (Princeton: Princeton University Press, 2003), 258–60. Although liberal reformers publicly denied conservative accusations that the Social Security Amendments represented a “trojan horse” paving the way to a larger goal, Johnson’s Social Security administrator Robert Ball later admitted that “we confidently expected [the reforms] to be the first step toward national health insurance.” Robert M. Ball, “Medicare Recollections,” speech delivered July 20, 1995, quoted in Edward Berkowitz, “Medicare: The Great Society’s Enduring National Health Insurance Program,” in The Great Society and the High Tide of Liberalism, ed. Sidney M. Milkis and Jerome M. Mileur (Amherst: University of Massachusetts Press, 2005), 322.

37. Herbert Alexander, Money in Politics (Washington, DC: Public Affairs Press, 1972), 33, 166–75.

38. Bernadette Budde, Senior Vice President, BIPAC, interview by the author, April 7, 2011; Julian E. Zelizer, On Capitol Hill: The Struggle to Reform Congress and Its Consequences, 1948–2000 (Cambridge: Cambridge University Press, 2004), 56–60.

39. Budde interview.

40. Business-Industry Political Action Committee, “Guidelines for the Formation of State Political Committees,” box 221, NAM.

41. Zelizer, On Capitol Hill, 108–24, 318n6; Patrick J. Akard, “The Return of the Market: Corporate Mobilization and the Transformation of U.S. Economic Policy, 1974–1984” (Ph.D. diss., University of Kansas, 1989), 84–89. Despite the proliferation of corporate PACs, a study in 1982 suggested that businesspeople’s traditional fears about crossing vague legal lines still restrained their political activities. See Edward Handler and John Mulkern, Business in Politics: Campaign Strategies of Corporate Political Action Committees (Lexington, MA: Lexington Books, 1982). For the FEC’s count of official PACs over time, see http://www.fec.gov/press/summaries/2011/2011paccount.shtml.

42. George Reeder to Lyndon Johnson, September 26, 1967, BE 4 5/25/67–12/31/67, LBJ; Cathie J. Martin, “Business and the New Economic Activism: The Growth of Corporate Lobbies in the Sixties,” Polity 27: 1 (Autumn 1994): 49–76. The Business-Government Relations Council still exists and supports lobbyists to congressional members of both parties.

43. Miller, The Voice of Business; Birnbaum, The Lobbyists, 13; Yoffie and Bergenstein, “Creating Political Advantage.”

44. Rodney Markley to John Harper and Fred Borch, June 2, 1972, BRA; Steven A. Sass, The Promise of Private Pensions: The First Hundred Years (Cambridge, MA: Harvard University Press, 1997); Alden Whitman, “Sidney J. Weinberg Dies at 77; ‘Mr. Wall Street’ of Finance,’ ” New York Times, July 24, 1969.

45. Robert Britt Horwitz, The Irony of Regulatory Reform: The Deregulation of American Telecommunications (New York: Oxford University Press, 1989), 9–11. See also Thomas K. McCraw, Prophets of Regulation: Charles Francis Adams, Louis D. Brandeis, James M. Landis, Alfred E. Kahn (Cambridge, MA: Belknap Press of Harvard University Press, 1984).

46. On the rise of public interest activism, see Michael W. McCann, Taking Reform Seriously: Perspectives on Public Interest Liberalism (Ithaca: Cornell University Press, 1986); Jeffery M. Berry and Clyde Wilcox, The Interest Group Society (1984; New York: Pearson Longman, 2007); and Cohen, A Consumers’ Republic, 357–63.

47. Bruce A. Ackerman and William T. Hassler, Clean Coal/Dirty Air, or How the Clean Air Act Became a Multibillion-Dollar Bail-Out for High-Sulfur Coal Producers and What Should Be Done About It (New Haven: Yale University Press, 1981), 4–12; E. Donald Elliott et al., “Toward a Theory of Statutory Evolution: The Federalization of Environmental Law,” Journal of Law, Economics, and Organization 1:2 (1985): 313–40; Richard A. Harris and Sidney M. Milkis, The Politics of Regulatory Change: A Tale of Two Agencies (New York: Oxford University Press, 1996), 7.

48. “Remarks by Elisha Gray II, Chairman of the Board, Council of Better Business Bureaus, Inc., the Business Council Meeting, Hot Springs, Virginia, October 20, 1972,” box 15, PR.

49. Erdogan Bakir and Al Campbell, “Neoliberalism, the Rate of Profit, and the Rate of Accumulation,” Science and Society 74:3 (July 2010): 323–42, especially figure 1, p. 328. Profit rates were approximately 8.5 percent in 1965; they hit 7.5 percent in 1998 and 6.75 percent in 2007.

50. Robert Brenner, The Economics of Global Turbulence: The Advanced Capitalist Economies from Long Boom to Long Downturn, 1945–2005 (London: Verso, 2006); John W. Kendrick and Elliot S. Grossman, Productivity in the United States: Trends and Cycles (Baltimore: Johns Hopkins University Press, 1980), 29; Louis Johnston and Samuel H. Williamson, “What Was the U.S. GDP Then?” 2011, MeasuringWorth; Stein, Pivotal Decade, 30–32; Claudia Goldin and Robert Margo, “The Great Compression: The Wage Structure in the United States at Mid-Century,” Quarterly Journal of Economics 107:1 (February 1992): 1–34; Geoffrey Moore, “Recessions,” The Concise Encyclopedia of Economics, Library of Economics and Liberty (1993), http://www.econlib.org/library/Encl/Recessions.html; Daniel H. Weinberg, “Current Population Reports: A Brief Look at Postwar U.S. Income Inequality,” U.S. Census Bureau, June 1996, http://www.census.gov/prod/1/pop/p60-191.pdf; Wyatt C. Wells, Economist in an Uncertain World: Arthur F. Burns and the Federal Reserve, 1970–78 (New York: Columbia University Press, 1994).

51. National Association of Manufacturers, “Productivity: Trends to Ponder,” box 224, NAM.

52. Carl Madden, “Statement on the Economic Report of the President and the Annual Report of the Council of Economic Advisors for Submission to the Joint Economic Committee for the Chamber of Commerce of the United States,” March 13, 1970, series II, box 11, USCOC; personal information on Carl Madden from “World Future Society,” http://www.wfs.org/node/266.

53. “Remarks by M. P. Venema, Chairman of the Board, Universal Oil Products Company, Des Plaines, Ill., and Chairman of the National Association of Manufacturers, at 48th Institute on Industrial Relations, March 19, 1972, Newport Beach, California,” box 200, NAM; Maynard P. Venema, The Unique Corporate Life of Universal Oil Products Company (New York: Newcomen Society in North America, 1961); Illinois Institute of Technology Office of the President, http://www.iit.edu/president/past_presidents.shtml.

54. David Harvey, A Brief History of Neoliberalism (New York: Oxford University Press, 2005).

55. “Confidence in Leaders of Ten Institutions, 1966–84,” Robert M. Teeter Papers, box 132, file Selected Issues: Issues/Confidence in Institutions (1), GRF.

56. Remarks of Daniel Yankelovich, “The Conference Board Second Annual Public Affairs Outlook Conference: Social and Economic Priorities: Business or Government? Whose Function? Who Decides?” Waldorf Astoria Hotel, New York, March 17, 1976, box 185, CB.

57. “Welcoming Remarks of John D. Harper, Chairman, the Business Roundtable at the Annual Meeting of the Roundtable, New York City, June 16, 1975,” and “Remarks by John D. deButts, Co-Chairman, the Business Roundtable at the Annual Meeting of the Roundtable, New York City, June 16, 1975,” both in 1975 Correspondence, BRA.

58. On Nader, see Michael Pertschuk, Revolt against Regulation: The Rise and Pause of the Consumer Movement (Berkeley: University of California Press, 1982); Matthew Hilton, Prosperity for All: Consumer Activism in an Era of Globalization (Ithaca: Cornell University Press, 2009), 161–62; Mark V. Nadel, The Politics of Consumer Protection (Indianapolis: Bobbs-Merrill, 1971), 141; and Cohen, A Consumers’ Republic, 354–55.

59. Timothy J. Wheeler, “Nader against the Consumer,” American Conservative Union publication, distributed by Young American for Freedom, Washington, DC, 1972, box 224, NAM; John Post, interview by the author, April 7, 2004.

60. “Confidence in Leaders of Ten Institutions, 1966–84.” See also “Robert Teeter to Richard Cheney, 12 November 1975,” Robert Teeter Papers, box 63, GRF; Chamber of Commerce of the United States Special Projects Division BEE Clearinghouse, “Public Attitudes toward Business and the Enterprise System,” Robert M. Teeter Collection, box 1, GHWB.

61. Tom Wolfe, “The ‘Me’ Decade and the Third Great Awakening,” New York Magazine, August 23, 1976; Network, 1976, dir. Sidney Lumet.

62. Christopher Lasch, The Culture of Narcissism: American Life in an Age of Diminishing Expectations (New York: Norton, 1979). On popular protest, see Phillips-Fein, Invisible Hands, 151–52. On the declining faith in liberal government, see Bruce J. Schulman, The Seventies: The Great Shift in American Culture, Society, and Politics (New York: Free Press, 2001). On income inequality, see Timothy Noah, The Great Divergence: America’s Growing Inequality Crisis and What We Can Do About It (New York: Bloomsbury Press, 2012).

63. “Welcoming Remarks of John D. Harper, June 16, 1975”; Burt F. Raynes, “Energy Crisis or Management Crisis?” October 10, 1973, box 200, NAM.

64. “John deButts,” in The North Carolina Awards: 1979 (Raleigh: North Carolina Awards Committee, 1979); Martha Derthick and Paul J. Quirk, The Politics of Deregulation (Washington, DC: Brookings Institution, 1985), 188–202; Dan Fenn to John deButts, November 10, 1967, Center for Business-Government Relations—Alpha Subject File, American Telephone and Telegraph Company, Dan H. Fenn Jr. Personal Papers, box 41, series 2.3, JFK.

65. Silk and Vogel, Ethics and Profits, 111; “Remarks by John D. deButts, June 16, 1975.”

66. Irving Kristol, “Business and ‘The New Class,’ ” Wall Street Journal, May 19, 1975.

67. See, for example, Collins, The Business Response to Keynes and McQuaid, Big Business and Presidential Power.

68. Isidore Cross, “The ‘New Class,’ ” Letter to the Editor, Wall Street Journal, June 9, 1975.

69. Clinton Morrison, “The Crystal Ball” (Washington, DC: Chamber of Commerce of the United States, 1975), series II, box 29, USCOC.

70. On the history of social networking and the importance of race, gender, and connections to achieving economic and political power, see Pamela Walker Laird, Pull: Networking and Success since Benjamin Franklin (Cambridge, MA: Harvard University Press, 2006).

71. Silk and Vogel, Ethics and Profits, 46.

72. Countless historians have examined the cultural origins of modern conservatism as a reaction against the perceived liberal “excesses” of the 1960s, including the civil rights movement, the antiwar movement, and the counterculture. See, among many, Perlstein, Nixonland and Dan T. Carter, The Politics of Rage: George Wallace, the Origins of the New Conservatism, and the Transformation of American Politics (Baton Rouge: Louisiana State University Press, 2000).

73. R. Heath Larry, “The Changing Business Environment,” keynote address at 51st NAM Institute on Industrial Relations, October 2, 1977, box 200, NAM.

74. Allen J. Matusow, The Unraveling of America: A History of Liberalism in the 1960s (New York: Harper and Row, 1984).

75. Nelson Lichtenstein, State of the Union: A Century of American Labor (Princeton: Princeton University Press, 2002), 170.

76. Quoted in Jeremy Brecher, Strike! (San Francisco: Straight Arrow Books, 1972), 264.

77. Joseph McCartin, “ ‘Fire the Hell out of Them’: Sanitation Workers’ Struggles and the Normalization of the Striker Replacement Strategy in the 1970s,” Labor: Studies in Working-Class History of the Americas 2:3 (2005): 67–92; Jefferson Cowie, Stayin’ Alive: The 1970s and the Last Days of the Working Class (New York: New Press, 2010).

78. Silk and Vogel, Ethics and Profits, 69.

79. Rodgers, Age of Fracture; “Address by Leonard Silk (Member of Editorial Board, New York Times) to the Conference Board: The Future Role of Business in Society Morning Session, Waldorf-Astoria Hotel, NYC,” September 16, 1976, box 185, CB.

CHAPTER 2

The chapter epigraph is taken from Richard Lesher, “What and Why Is the U.S. Chamber of Commerce?” Chamber of Commerce Newsletter, April 1976, series II, box 5, USCOC.

1. “Two Top Business Groups Plan Merger to Combat Growing Antibusiness Bias,” Wall Street Journal, June 8, 1976; “Business Lobbyists Blend Their Voices,” Business Week, June 21, 1976; “NAM Vetoes Merger with U.S. Chamber,” Washington Star, September 22, 1976.

2. Burt Talcott to Douglas Kenna, June 21, 1976, box 179, NAM.

3. “WLL Telephone Conversation with Fred Borch,” August 14, 1986, BRA.

4. A. E. Bolin to Douglas Kenna, June 25, 1976, box 179, NAM; “NAM Kills Merger with Chamber of Commerce,” Los Angeles Times, September 23, 1976; “NAM Vetoes Merger with U.S. Chamber,” Washington Star, September 22, 1976.

5. Jeffrey M. Berry, Lobbying for the People: The Political Behavior of Public Interest Groups (Princeton: Princeton University Press, 1977); Schlozman and Tierney, Organized Interests and American Democracy; Zelizer, On Capitol Hill.

6. Richard W. Gable, “Birth of an Employers’ Association,” Business History Review 33:4 (Winter 1959): 535–45; Cathie J. Martin, “Sectional Parties, Divided Business,” Studies in American Political Development 20:2 (October 2006): 160–84.

7. See Martin, “Sectional Parties, Divided Business,” 176–77; Collins, The Business Response to Keynes, 47.

8. Richard Hume Werking, “Bureaucrats, Businessmen, and Foreign Trade: The Origins of the United States Chamber of Commerce,” Business History Review 52:3 (Autumn 1978): 321–41.

9. Martin, “Sectional Parties, Divided Business.”

10. Richard Tedlow, “The National Association of Manufacturers and Public Relations during the New Deal,” Business History Review 50:1 (Spring 1976): 25–45; Delton, Racial Integration, 195–96. Sales figure adjustment based on relative share of GDP. Samuel H. Williamson, “Seven Ways to Compute the Relative Value of a U.S. Dollar Amount, 1774 to Present,” May 2012, MeasuringWorth.

11. Quoted in Werking, “Bureaucrats, Businessmen, and Foreign Trade.”

12. Coolidge quoted in Collins, The Business Response to Keynes, 23.

13. John Edgerton, president of the National Association of Manufacturers, October 1930, quoted in William E. Leuchtenburg, Franklin D. Roosevelt and the New Deal, 1932–1940 (New York: Harper, 1963), 21.

14. Collins, The Business Response to Keynes, 31–42.

15. Sanford M. Jacoby, Modern Manors: Welfare Capitalism since the New Deal (Princeton: Princeton University Press, 1997), 214; Ellis Hawley, “The New Deal and Business,” in The New Deal: The National Level, ed. John Braeman, Robert H. Brenner, and David Brody (Columbus: Ohio State University Press, 1975), 55–78.

16. Philip Burch, “The NAM as an Interest Group,” Politics and Society 4:1 (September 1973): 97–130; Phillips-Fein, Invisible Hands, 13–15; Krooss, Executive Opinion, 12, 183.

17. Collins, The Business Response to Keynes, 158–59.

18. Leuchtenburg, Franklin D. Roosevelt and the New Deal, 282; Lichtenstein, State of the Union, 114–18; Jacobs, Pocketbook Politics, 222–26, 236–42.

19. William S. White, “Bill Curbing Labor Becomes Law as Senate Overrides Veto, 68–25; Unions to Fight for Quick Repeal,” New York Times, June 23, 1947; “House Overrides Truman’s Labor Bill Veto; Republicans Predict Victory Also in Senate,” Wall Street Journal, June 21, 1947; Phillips-Fein, Invisible Hands, 31–32.

20. Fones-Wolf, Selling Free Enterprise; “He Says Only Refusal to Sign ‘Monstrous’ Measure Will Avert ‘Serious Difficulties’—Meany Sees Aim to Weaken Unions,” New York Times, May 17, 1947, 19; Richard W. Gable, “NAM: Influential Lobby or Kiss of Death?” Journal of Politics 15:2 (May 1953): 254–73. Responding to the passage of Taft-Hartley, AFL president William Green called the ultimate merger of the two labor confederations “inevitable.” “Anti-Labor Laws to Be AFL-Target,” Baltimore Sun, May 16, 1947, 2. On the creation of the AFL-CIO, see Paul Buhle, Taking Care of Business: Samuel Gompers, George Meany, Lane Kirkland, and the Tragedy of American Labor (New York: Monthly Review Press, 1999), 131–35 and Tracy Roof, American Labor, Congress, and the Welfare State, 1935–2010 (Baltimore: Johns Hopkins University Press, 2011), 88–90.

21. McQuaid, Big Business and Presidential Power, 148; Phillips-Fein, Invisible Hands, 33–35.

22. Malcolm Forbes, editorial, Forbes, August 25, 1951, 13, cited in Soffer, “The National Association of Manufacturers”; “Management: Fulltime Storekeeper,” Time, December 14, 1962; Delton, Racial Integration, 197; C. W. Borklund, “A New Era: Why the National Association of Manufacturers Moved Its Headquarters to Washington, D.C.,” Government Executive (July 1973), box 200, NAM. On the John Birch Society, see McGirr, Suburban Warriors.

23. Collins, The Business Response to Keynes, 122–26, 192; Dexter, How Organizations Are Represented in Washington, 21.

24. “Remarks by W. P. Gullander, Staff Meeting, March 12, 1965,” box 120, NAM; “Management: Fulltime Storekeeper”; Delton, Racial Integration, 199; Leif Sjoberg, ed., American Swedish ’73 (Philadelphia: American Swedish Historical Foundation, 1973), 6. On the purge of the Birchers and NAM’s militarization—accepting and embracing a militant foreign policy during the Vietnam War—see Soffer, “The National Association of Manufacturers.”

25. Doug Kenna, College Football Hall of Fame, http://www.collegefootball.org/famer_selected.php?id=40025; “Sport: End of a Perfect Year,” Time, December 11, 1944; Borklund, “A New Era.”

26. Borklund, “A New Era.”

27. E. Douglas Kenna, “Industry’s Priorities for America’s Progress,” 79th Congress of American Industry, December 6, 1974, box 200, NAM; William H. Jones, “NAM Plans Move Here,” Washington Post, February 21, 1973.

28. R. Heath Larry to Hedley Donovan, Editor-in-Chief, Time, Inc., August 2, 1978, box 200, NAM; David B. Meeker, “New Perspectives for Business Leadership,” February 4, 1975, box 200, NAM.

29. Donald A. Gaudion, “The Spirit at 1776,” December 5, 1974, box 200, NAM.

30. John C. Jeffries Jr., Justice Lewis F. Powell, Jr.: A Biography (New York: Charles Scribner’s Sons, 1994), 13–43; Phillips-Fein, Invisible Hands, 156–65.

31. Jeffries, Justice Lewis F. Powell, Jr., 1–9; Lewis Powell to Eugene Sydnor, “Confidential Memorandum: Attack on American Free Enterprise System,” August 23, 1971, series 2, box 28, USCOC.

32. Jack Anderson, “Chief Justice Lobbies against Bill,” Washington Post, October 5, 1972. On Anderson and Nixon, see Mark Feldstein, Poisoning the Press: Richard Nixon, Jack Anderson, and the Rise of Washington’s Scandal Culture (New York: Farrar, Straus, and Giroux, 2010).

33. Countless articles, documentaries, and books have perpetuated a conspiratorial interpretation of the Powell Memorandum. In a typical piece, Greenpeace dubbed it “A Corporate Blueprint to Dominate Democracy.” See “The Lewis Powell Memo,” http://www.greenpeace.org/usa/en/campaigns/global-warming-and-energy/polluterwatch/The-Lewis-Powell-Memo/. See also Sam Pizzagati, “Remembering the Moment Our CEOs Dug In,” August 29, 2011, published on Too Much: A Commentary on Excess and Inequality, toomuchonline.org/remembering-the-powell-memo.

34. Steven M. Teles, The Rise of the Conservative Legal Movement: The Battle for Control of the Law (Princeton: Princeton University Press, 2008), 61–62. For other scholarly accounts of the Powell Memorandum, see Phillips-Fein, Invisible Hands, 156–65 and Jacob S. Hacker and Paul Pierson, Winner-Take-All Politics: How Washington Made the Rich Richer—and Turned Its Back on the Middle Class (New York: Simon and Schuster, 2010), 117–19. For a critique of the tendency to overstate the Powell Memorandum’s importance, see Mark Schmitt, “The Legend of the Powell Memo,” The American Prospect, April 27, 2005.

35. Chamber of Commerce Board of Directors Meeting, June 23, 1972, series I, box 1c, USCOC.

36. U.S. Chamber of Commerce, “Seventy-Five Years of Achievement, 1912–1987,” series II, box 9, USCOC; “Changing of the Business Guard,” Nation’s Business, August 1, 1997, 62–63.

37. “Report to the Board of Directors on: Contribution to Business-Industry Political Action Committee (BIPAC),” November 6–7, 1975, series I, box 1d, USCOC.

38. Thomas J. Donohue, “Chamber Development,” Presentation to the Board of Directors of the Chamber of Commerce of the United States, June 23, 1978, series I, box 1d, USCOC; “Seventy-Five Years of Achievement.” On the role of the NCLC as a mobilizing force against the hegemony of legal liberalism, see Teles, The Rise of the Conservative Legal Movement. On links between the NCLC and the Roberts Court, especially related to the Citizens United decision in 2010, see Adam Liptak, “Justices Offer Receptive Ear to Business Interests,” New York Times, December 18, 2010.

39. David Bird, “Waste Disposal Tied to Markets,” New York Times, October 8, 1972; George C. Wilson, “Recycling of Trash Considered Profitable,” Washington Post, March 8, 1973; “Lesher to Succeed Booth at Chamber of Commerce, Washington Post, March 11, 1975.

40. Dr. Carl Grant, Executive Vice President, U.S. Chamber of Commerce, interview by the author, April 13, 2011.

41. “Seventy-Five Years of Achievement”; Grant interview. The Chamber discontinued its television programs amid the Internet boom of the late 1990s, and Nation’s Business ceased publication in 1999. “Notebook,” Television Digest, April 27, 1998; Robert J. Perkins, “The End of a Long Run,” Nation’s Business 87:6 (June 1999): 1.

42. Lesher, “What and Why Is the U.S. Chamber of Commerce?”; Martin, Shifting the Burden, 116; Grant interview.

43. Richard Lesher, “Can Capitalism Survive?” (pamphlet published in 1975), series II, box 29, USCOC.

44. John D. Harper, “Private Enterprise’s Public Responsibility,” Public Relations Journal (August 1967): 8–10; Edward J. Balleisen, “Private Cops on the Fraud Beat: The Limits of American Business Self-Regulation, 1895–1932,” Business History Review 83:1 (Spring 2009): 113–60.

45. Richard Lesher, “Subject: The ‘Social Concerns’ of Business,” July 27, 1976, White House Central Names File: Chamber of Commerce 1.76 to 1.77, box 555, GRF; Johnston and Williamson, “What Was the U.S. GDP Then?”

46. On Friedman’s rise, see especially Burgin, The Great Persuasion.

47. Milton Friedman, “A Friedman Doctrine—The Social Responsibility of Business Is to Increase Profits,” New York Times, September 13, 1970.

48. Powell to Sydnor, August 23, 1971.

49. “Americans Do Not Understand Business,” Chamber of Commerce Newsletter, March 1974, box 3, USCOC; “Public Full of Misconceptions about Business, Chamber Survey Shows,” Chamber of Commerce Newsletter, July 1973, series II, box 3, USCOC; Silk and Vogel, Ethics and Profits, 71.

50. “NAM’s Public Affairs Program, 1975–1976,” box 119, NAM.

51. Jacoby, Modern Manors, 158–66; Fones-Wolf, Selling Free Enterprise, 67–107; Phillips-Fein, Invisible Hands, 15, 26–27; “Seventy-Five Years of Achievement.” On business public relations efforts, see William H. Whyte, Is Anybody Listening?: How and Why U.S. Business Fumbles When It Talks to Human Beings (New York: Simon and Schuster, 1952).

52. Bethany Moreton, To Serve God and Wal-Mart: The Making of Christian Free Enterprise (Cambridge, MA: Harvard University Press, 2009), 193–221.

53. “NAM’s Public Affairs Program, 1975–1976”; “NAM’s New Initiatives in Public Relations: A Presentation to NAM’s Board of Directors, May 14, 1975,” box 200, NAM; “Minutes of the Meeting of the Public Affairs Steering Committees,” October 22, 1975, box 119, NAM.

54. “Energy: Excess Profits Tax: A Howling Mess,” Time, February 4, 1974; W. Elliot Brownlee, Federal Taxation in America: A Short History (1996; Cambridge: Cambridge University Press, 2004), 193; advertisement for Profits Kit, Chamber of Commerce Newsletter, June 1973, series II, box 3, USCOC.

55. Silk and Vogel, Ethics and Profits, 110.

56. “Gullander’s Travels: A Study in Free Enterprise,” Industry Week, December 6, 1971, box 147, NAM; “NAM’s New Initiatives in Public Relations: A Presentation to NAM’s Board of Directors, May 14, 1975,” box 200, NAM.

57. “Americans Do Not Understand Business”; “Michigan Tells the Business Story to the Youth of the State,” State Chambers of Commerce in Action (undated newsletter, late 1975 or early 1976), John C. Vickerman Files 1974–1977, box 6, file Chamber of Commerce of the United States, GRF; Chamber of Commerce of the United States, “Freedom 2000 Teacher’s Guide,” series II, box 29, USCOC.

58. “How to Promote Constructive Confrontations between the Leaders of Today and the Leaders of Tomorrow,” series II, box 27, USCOC; “Teens Trade Myth for Fact in Business Seminar,” Chamber of Commerce Newsletter, November 1973, series II, box 3, USCOC.

59. “Chamber Expands Education Effort: Public to Learn More about U.S. Business System,” series II, box 27, USCOC; “Economic Education on TV: The Competitive Enterprise System,” series II, box 28, USCOC. On the history of advertising, both for specific products and for general concepts like “free enterprise,” see Roland Marchand, Advertising the American Dream: Making Way for Modernity, 1920–1940 (Berkeley: University of California Press, 1985).

60. “Confidence in Leaders of Ten Institutions, 1966–84,” Robert M. Teeter Papers, box 132, GRF; NBC News/Wall Street Journal Poll, December 2000, iPOLL Databank, Roper Center for Public Opinion Research, University of Connecticut.

61. Heath Larry, “Economic Education the Other Way Around,” August 23, 1977, box 200, NAM; “Changing of the Business Guard,” Nation’s Business, August 1, 1997, 62–63.

62. ORC Public Opinion Index, July 1971, iPOLL Databank, Roper Center; “The Study of American Opinion: Public Attitudes toward Emerging Issues, Business, Government, Labor, Professions, Institutions, Sponsored by the Marketing Department of U.S. News & World Report, Conducted by Marketing Concepts, Inc., 1978 Report,” box 168, NAM.

63. “The Public Image of Business in a Time of Changing Values: A Discussion Paper,” NAM Education Department, June 1973, box 219, NAM.

64. “Hopes and Fears,” September 1964; CBS News/New York Times Poll, April 1981; Council for Excellence in Government Poll, March 1995, all from iPOLL Databank, Roper Center.

65. “Confidence in Leaders of Ten Institutions, 1966–84.”

66. On the rise of think tanks in the 1970s, see Alice O’Connor, “Bringing the Market Back In: Philanthropic Activism and Conservative Reform,” in Politics and Partnerships: The Role of Voluntary Associations in America’s Political Past and Present, ed. Elisabeth S. Clemens and Doug Guthrie (Chicago: University of Chicago Press, 2010), 121–50.

67. Baroody, “Industry’s Future: The Issue Is Survival.”

CHAPTER 3

1. John Sabino, “The Links Club—New York City,” Playing the Top 100 Golf Courses in the World, February 24, 2007, http://top100golf.blogspot.com/2006/11/links-club.html.

2. On the informal meeting of Blough et al., see Roger Blough to Members of the Policy Committee, April 19, 1973, BRA; Fred Borch to Roger Blough et al., “Memorandum—Washington, DC Meeting—February 14, 1973,” box 6, CBM. On the formation of the March Group, see “March Group Washington Reps Memo,” Washington Representatives of the Founding Companies to Gentlemen, April 20, 1972, in John Harper to Wallace Bates, July 24, 1973, BRA. On the March Group–Business Roundtable merger, see “The Business Roundtable Policy Committee Meeting April 30, 1973 Minutes,” box 6, CBM; “Roundtable and March Group in Affiliation Move,” The Business Roundtable Report, No. 73-5, May 23, 1973.

3. “Congress: Squaring Off Over 14(b),” Time, October 1, 1965; Roof, American Labor, Congress and the Welfare State, 100–107; Gilbert J. Gall, The Politics of Right to Work: The Labor Federations as Special Interests, 1943–1979 (New York: Greenwood, 1988), 168–83.

4. Victor Reisel, “Inside Labor: Management Movement,” Indiana Evening Gazette, February 7, 1968; Haynes Johnson and Nick Kotz, “Business Takes Aim at Labor’s Power: Business Organizes—in Vain—to Combat Organized Labor,” Washington Post, April 14, 1972.

5. Membership list for “The Business Roundtable—For Responsible Labor-Management Relations,” October 13, 1972, BRA.

6. Haynes and Kotz, “Business Takes Aim”; “WLL Telephone Conversation with Fred Borch—August 14, 1986,” BRA; William R. Bradt, “Beginnings of the Business Roundtable (The Formative Years: 1972–1973),” unpublished internal history, April 30, 1986, BRA; William Beverly Murphy, interview by Archie K. Davis, July 21, 1977, Interview Number B-0046, the Southern Oral History Program Collection, Number 4007, Southern Historical Collection, Wilson Library, University of North Carolina, Chapel Hill.

7. Williamson, “Seven Ways to Compute the Relative Value of a U.S. Dollar Amount.”

8. Wells, Economist in an Uncertain World, 23–25.

9. John Maynard Keynes, The General Theory of Employment, Interest, and Money (1936; Basingstoke, Hampshire: Palgrave McMillan, 2007); Iwan W. Morgan, Deficit Government: Taxing and Spending in Modern America (Chicago: Ivan R. Dee, 1995), 110. On Johnson’s feeble efforts to raise taxes to pay for the war and the Great Society, see Martin, Shifting the Burden, 81–106. Williamson, “Seven Ways to Compute the Relative Value of a U.S. Dollar Amount”; Office of Management and Budget, Fiscal Year 2012: Mid-Session Review, Budget of the U.S. Government, http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/12msr.pdf.

10. Haliburton Fales 2d, Trying Cases: A Life in the Law (New York: New York University Press, 1997), 181.

11. “Suggested Public Education Program for Labor Law Study Group,” November 8, 1971, BRA.

12. Ibid.; “Memorandum for Mr. Funston, Re: Labor Law Study Group—Public Education and Other Objectives,” December 22, 1971, BRA.

13. See Jacobs, Pocketbook Politics.

14. Gilbert Burck, “A Time of Reckoning for the Building Unions,” Fortune, June 4, 1979, 82–96.

15. For a comprehensive explanation of the debate over wage inflation in the construction industry, see Marc Linder, Wars of Attrition: Vietnam, the Business Roundtable, and the Decline of the Construction Unions (Iowa City: Fanpihua Press, 1999), 59–94.

16. Carl Madden, “Construction Wages: The Great Consumer Robbery,” remarks before the Annual Meeting of the Association of Builders and Contractors, March 10, 1971, series II, box 11, USCOC.

17. Linder, Wars of Attrition, 183.

18. Winton M. Blount, “The Construction Industry Today—A Question of Survival,” in Winton Blount to Roger Blough, July 10, 1978, BRA; Winton M. Blount, Doing It My Way, with Richard Blodgett (Lyme, CT: Greenwich Publishing Group, 1996).

19. “Construction Users Anti-Inflation Roundtable,” in Blount to Blough, July 10, 1978, BRA.

20. Linder, Wars of Attrition, 190; Fales, Trying Cases, 180.

21. “Business: Roger Blough,” Time, June 8, 1959.

22. Construction Users Anti-Inflation Roundtable Report, December 7, 1970.

23. “WLL Telephone Conversation with Fred Borch—August 14, 1986.”

24. Cathie J. Martin, “Business and the New Economic Activism: The Growth of Corporate Lobbies in the Sixties,” Polity 27:1 (Autumn 1994): 49–76.

25. Construction Users Anti-Inflation Roundtable Report, February 17, 1971; Construction Users Anti-Inflation Roundtable Report, May 28, 1971; Allen J. Matusow, Nixon’s Economy: Booms, Busts, Dollars, and Votes (Lawrence: University Press of Kansas, 1998), 94.

26. “The Business Roundtable Links Club Meeting Minutes, October 16, 1972,” BRA; “The Business Roundtable—For Responsible Labor-Management Relations, October 13, 1972,” BRA.

27. Roger Blough, “Memorandum Re: Labor Law Study Group and Construction Users Anti-Inflation Roundtable, August 30, 1972,” box 5, CBM.

28. The Business Roundtable for Responsible Labor-Management Relations Report, No. 72-13, December 20, 1972.

29. Lichtenstein, State of the Union, 147; Buhle, Taking Care of Business, 134.

30. John Oliver to C. B. McCoy, October 11, 1972, box 7, CBM.

31. “WLL Telephone Conversation with Fred Borch—August 14, 1986.” On the number of members, see Roger Blough to Members of the Policy Committee of the Business Roundtable, April 19, 1973, BRA.

32. “Past Leaders: Ralph J. Cordiner,” www.ge.com/company/history/bios/ralph_cordiner.html.

33. Bernard Nossiter, “GE Chairman’s Advisory Role Causes Worry,” Washington Post, February 15, 1961; McQuaid, Big Business and Presidential Power, 200–201.

34. On General Electric, Cordiner, and Boulwarism, see Phillips-Fein, Invisible Hands, 90–105.

35. “WLL Telephone Conversation with Fred Borch—August 14, 1986.”

36. Ibid.

37. John W. Burke to Charles B. McCoy, April 1, 1969, box 3, CBM.

38. “Notes for John D. Harper, Business Roundtable Meeting, July 20, 1973,” BRA.

39. John Holusha, “Fred J. Borch, 84, Chairman of General Electric in 1960’s,” New York Times, March 3, 1995.

40. “John D. Harper, Retired Chairman of ALCOA,” Chicago Tribune, July 28, 1985. Currency conversion based on relative changes in wages for skilled production workers. Comparing purchasing power based on the constant bundle of products in the Consumer Price Index, which is less accurate for comparing wages, Harper’s weekly pay as a freshman in high school totaled around $150. See Williamson, “Seven Ways to Compute the Relative Value of a U.S. Dollar Amount.”

41. “Notes for John D. Harper, Business Roundtable Meeting, July 20, 1973.”

42. “WLL Telephone Conversation with Fred Borch—August 14, 1986”; Kim McQuaid, Uneasy Partners: Big Business in American Politics, 1945–1990 (Baltimore: Johns Hopkins University Press, 1994), 145–46; Arthur Schlesinger Jr., The Imperial Presidency (Boston: Houghton Mifflin, 1973).

43. “March Group Washington Reps Memo,” April 20, 1972.

44. McQuaid, Big Business and Presidential Power, 284; “WLL Telephone Conversation with Fred Borch—August 14, 1986.”

45. “WLL Telephone Conversation with Fred Borch—August 14, 1986”; “March Group Washington Reps Memo,” April 20, 1972.

46. “Roundtable and March Group in Affiliation Move,” The Business Roundtable Report, No. 73-5, May 23, 1973.

47. “Notes for John D. Harper, Business Roundtable Meeting, July 20, 1973”; Charles B. McCoy, “Remarks at Annual Meeting of the Business Roundtable,” June 11, 1973, box 5 CBM.

48. “March Group Washington Reps Memo,” April 20, 1972.

49. “Notes for John D. Harper, Business Roundtable Meeting, July 20, 1973”; “WLL Telephone Conversation with Fred Borch—August 14, 1986”; Fred J. Borch to Roger M. Blough et al., “Memorandum—Washington, DC Meeting—February 14, 1973,” box 6, CBM.

50. “Roger Blough’s Presentation to the Construction Users Group Conference, Dearborn, Michigan, April 3, 1973,” quoted in Bradt, “Beginnings of the Business Roundtable.”

51. Cook Nelson Tuthill, Inc., “Study for the Business Roundtable,” February 12, 1973, BRA; John Post to G. Wallace Bates, August 24, 1973, BRA.

52. “The Public Information Committee: A Capsule History” (undated internal history, likely written in 1984), BRA; John Harper to Members of the Business Roundtable, April 22, 1974, box 6, CBM; Bradt, “Beginnings of the Business Roundtable”; Reader’s Digest, February 1975, 42–44 (on inflation); Reader’s Digest, July 1975, 160–62 (on profits and growth); Reader’s Digest, October 1975, 212–14 (on safety regulations). Cost conversion using inflation-adjusted percentage of GDP. Williamson, “Seven Ways to Compute the Relative Value of a U.S. Dollar Amount.”

53. Roundtable Report, No. 75-6, August 1975; “The Public Information Committee: A Capsule History.”

54. “Meet the Press Transcript,” April 20, 1975, Ronald H. Nessen Files, box 69, GRF.

55. Cowie, Capital Moves.

56. Brenner, The Economics of Global Turbulence, 99–117.

57. Roundtable Report, No. 75-5, July 1975; Roundtable Report, No. 76-4, July 1976.

CHAPTER 4

The chapter epigraphs are taken from Matusow, Nixon’s Economy, 17; Jimmy Carter, “Anti-Inflation Program Remarks Announcing the Administration’s Program,” March 14, 1980, in Woolley and Peters, The American Presidency Project.

1. U.S. Chamber of Commerce, “Building History,” http://www.uschamber.com/about/history/building-history.

2. “ANAC Gets ‘Rave Notices’ from 1,200 Top Association and Corporate Leaders,” Association Letter (Washington, DC: Chamber of Commerce of the United States), February 1972, series II, box 5, USCOC.

3. Herbert Stein, Presidential Economics: The Making of Economic Policy from Roosevelt to Reagan and Beyond (New York: Simon and Schuster, 1984); Wells, Economist in an Uncertain World; Matusow, Nixon’s Economy.

4. C. Jackson Grayson, Confessions of a Price Controller (Homewood, IL: Dow Jones-Irwin, 1974); “ANAC Gets ‘Rave Notices.’ ”

5. Schulman, The Seventies, 37–38.

6. “ANAC Gets ‘Rave Notices.’ ”

7. Ibid.

8. Collins, More; Jacobs, Pocketbook Politics.

9. On the role of consumers as an interest group in postwar politics, see especially Cohen, A Consumers’ Republic.

10. On the history of conservative opposition to organized labor in the twentieth century, see especially Nelson Lichtenstein and Elizabeth Tandy Shermer, eds., The Right and Labor in America: Politics, Ideology, and Imagination (Philadelphia: University of Pennsylvania Press, 2012).

11. “Statement of the Monetary and Fiscal Policy Subcommittee of the Money/Credit/Capital Formation Committee on Inflation Control,” National Association of Manufacturers, November 6, 1969, box 188, NAM.

12. Matusow, Nixon’s Economy, 67; Stein, Presidential Economics, 161.

13. Richard S. Landry, “Statement on Title II of H.R.17880, the Economic Stabilization Act of 1970 before the House Banking and Currency Committee for the Chamber of Commerce of the United States,” June 18, 1970, series II, box 11, USCOC.

14. Alan Blinder and William J. Newton, “The 1971–1974 Controls Program and the Price Level: An Econometric Post-Mortem,” Journal of Monetary Economics 8:1 (1981): 1–23.

15. Perlstein, Nixonland; Matusow, Nixon’s Economy.

16. Kevin Phillips, The Emerging Republican Majority (New Rochelle, NY: Arlington House, 1969); Jefferson Cowie, “Nixon’s Class Struggle: Romancing the New-Right Worker, 1969–1973,” Labor History 43:3 (Summer 2002): 257–83.

17. “Putting on the Freeze,” Time, August 30, 1971.

18. Public Affairs Office, Department of the Treasury, “Public Reaction to the President’s Program,” August 25, 1971, BE box 8, EX BE 3 Economic Controls and N. E. Halaby to Richard Nixon, September 7, 1971, BE box 9, EX BE 3 Economic Controls, both in RMN.

19. Gilbert W. Fitzhugh to Richard Nixon, August 18, 1971, BE box 8, EX BE 3 Economic Controls, RMN.

20. “Associations Act Quickly to Inform Members on Wage-Price Freeze,” Association Letter, Chamber of Commerce of the United States, September 1971, series II, box 5, USCOC; “News from NAM” Press Release, October 7, 1971, box 188, NAM.

21. Chamber of Commerce of the United States, “Your Commitment to America,” series II, box 28, USCOC.

22. Ibid.; “ ‘Freeze Government’ Brings Favorable Response from Public,” Association Letter, December 1971, Chamber of Commerce of the United States, series II, box 5, USCOC.

23. William R. Risher to Richard Nixon, September 2, 1971, BE box 9, EX BE 3 Economic Controls, RMN; Damon Stetson, “Harm to Workers Feared,” New York Times, August 17, 1971.

24. Blinder and Newton, “The 1971–1974 Controls Program and the Price Level.”

25. “Public Reaction to the President’s Program”; Nigel Bowles, Nixon’s Business: Authority and Power in Presidential Politics (College Station: Texas A&M University Press, 2005), 117–32.

26. Donald Kendall to Richard Nixon, September 17, 1971, BE box 11, EX BE Economic Controls, RMN.

27. John J. Abele, “Businessmen Applaud and Criticize Nixon Speech,” New York Times, June 18, 1970; Grayson, Confessions of a Price Controller.

28. Frank C. Porter, “President Names Pay, Price Boards,” Washington Post, October 23, 1971; “What Made Meany Walk,” Time, April 3, 1972; Matusow, Nixon’s Economy, 161.

29. The president of NAM, Werner Gullander, encouraged the Pay Board to fix wage increases “firmly to productivity growth” and was pleased that the board did so (after accounting for inflation). “News from NAM” Press Release, October 7, 1971, box 188, NAM.

30. Marvin H. Kosters and J. Dawson Ahalt, Controls and Inflation: The Economic Stabilization Program in Retrospect (Washington, DC: American Enterprise Institute for Public Policy Research, 1975), 16; “Is Phase 2 Soft on Prices? Hearings Find Varied Views,” Industry Week, April 10, 1972, box 147, NAM; “What Made Meany Walk.”

31. “Report to the Board of Directors,” June 12, 1972, series I, box 1c, USCOC; Carl Madden, “Statement on Wage-Price Controls before the Joint Economic Committee for the Chamber of Commerce of the United States,” November 14, 1972, series II, box 11, USCOC.

32. George Hagedorn to Members of the NAM Ad Hoc Committee on Phase II, November 13, 1972, box 171, NAM.

33. Burt F. Raynes to NAM Board of Directors, December 27, 1972, box 171, NAM; “Nixon Will Seek to Extend Curb on Wages, Prices,” Wall Street Journal, December 12, 1972.

34. W. B. Murphy to Executive Committee and Policy Committee Members, December 1, 1972, 1972 Correspondence, BRA.

35. Richard Nixon, “Special Message to Congress Announcing Phase III of the Economic Stabilization Program and Requesting Extension of Authorizing Legislation,” January 11, 1973, in Woolley and Peters, The American Presidency Project; Bowles, Nixon’s Business, 119; Kosters and Ahalt, Controls and Inflation, 22–23.

36. Kosters and Ahalt, Controls and Inflation, 23; Wells, Economist in an Uncertain World, 110–12. Economists hotly debated the specific causes of this batch of inflation, which included world grain shortages, a global economic growth spurt, supply chain disruptions as factories tried to maximize output, and the devaluation of the dollar.

37. Stein, Presidential Economics, 185.

38. “The Meat Furor,” Newsweek, April 9, 1973.

39. “Nixon Reapplies Prenotification Rule to Some Price Boosts by Big Firms,” Wall Street Journal, May 3, 1973; Kosters and Ahalt, Controls and Inflation, 24–25.

40. Richard Nixon, “Address to the Nation Announcing Price Control Measures,” June 13, 1973, in Woolley and Peters, The American Presidency Project.

41. Survey results reported in George Shultz to Richard Nixon, October 15, 1973, BE box 15, EX BE 3 Economic Controls, RMN. On the gasoline shortage, see Meg Jacobs, “The Conservative Struggle and the Energy Crisis,” in Rightward Bound: Making America Conservative in the 1970s, ed. Bruce J. Schulman and Julian E. Zelizer (Cambridge, MA: Harvard University Press, 2008), 193–209 and Richard H. K. Vietor, Energy Policy in America since 1945: A Study of Business-Government Relations (Cambridge: Cambridge University Press), 194–202.

42. Frank Fitzsimmons, “International Brotherhood of Teamsters News Service,” June 14, 1973, in Charles Colson to Rose Mary Woods, June 15, 1973, BE box 15, EX BE 3 Economic Controls, RMN.

43. Walter Wriston to Richard Nixon, undated, BE box 15, EX BE 3 Economic Controls, RMN.

44. Burt Raynes, “Why NAM Is against Wage and Price Controls,” undated, box 218, NAM Publications U–Z, NAM.

45. Wallace Bates and John Harper to Labor Management Committee, Construction Committee, and Public Information Committee, October 5, 1973, BRA.

46. Stein, Presidential Economics, 186. See also “The Meat Furor,” Newsweek, April 9, 1973.

47. Stein, Pivotal Decade, 74–100.

48. Roper Report 73-9, September 1973, iPOLL Databank, Roper Center.

49. Shultz to Nixon, October 15, 1973; Hobart Rowen, “Requiem for Controls,” Washington Post, April 7, 1974.

50. Douglas Kenna and Charles Smith, “The Future of Wage and Price Controls,” Joint Testimony before the Subcommittee on Production and Stabilization, Committee on Banking, Housing and Urban Affairs, United States Senate, February 1, 1974, series II, box 11a, USCOC.

51. The Business Roundtable Report, No. 74-2, February 28, 1974.

52. John Harper to Members of the Business Roundtable, March 15, 1974, 1974 Correspondence, BRA.

53. James Rowe, “House Unit Blocks Controls,” Washington Post, April 6, 1974.

54. Edward Cowan, “Controls Ending in High Inflation,” New York Times, April 18, 1974.

55. The Business Roundtable Report, No. 74-4, April 26, 1974.

56. Cowan, “Controls Ending in High Inflation.”

57. “Critical Public Scrutiny to Be New Form of Economic Control: Blough,” Roundtable Report, April 26, 1974.

58. “Inflation Losers: You, Your Family, Your Country” (1974) and “Wage and Price Controls: A Failure in History, Theory, and Practice” (1975), series II, box 29, USCOC.

59. John Harper to Alan Greenspan, September 24, 1974, BRA.

60. On the Nixon pardon, see Sean Wilentz, The Age of Reagan: A History, 1974–2008 (New York: Harper Collins, 2008), 28–32.

61. “National Chamber Finds Need for Inflation-Proof Congress,” Association Letter of the Chamber of Commerce of the United States, August 1974, series II, box 5, USCOC; “Board of Directors Minutes, November 7–8, 1974,” series I, box 1c, USCOC.

62. Zelizer, On Capitol Hill, 156–76.

63. Roundtable Report, No. 75-7, October 1975.

64. Gerald Ford, “Statement Announcing Intention to Veto the Common Situs Picketing Bill,” December 22, 1975, in Woolley and Peters, The American Presidency Project; James A. Baker III, “Work Hard, Study … and Keep Out of Politics!”: Adventures and Lessons from an Unexpected Public Life, with Steve Fiffer (New York: G. P. Putnam’s Sons, 2006), 36–37.

65. National Association of Manufacturers Policy & Program Development Division, “Major National Legislative Issues, May 1975,” box 220, NAM.

66. Roundtable Report, No. 76-7, December 1976.

67. “House Deals Big Defeat to Labor,” Chicago Tribune, March 24, 1977.

68. Rudolph A. Pyatt Jr., “Business Profile: A Foe’s Views of Pickets Bill,” Washington Star, March 28, 1977, box 200, NAM.

69. Jimmy Carter, “Labor Law Reform Message to the Congress Transmitting Proposed Legislation,” July 18, 1977, in Woolley and Peters, The American Presidency Project.

70. “Major Business Issues: Capsule Comments on National Chamber Positions,” June 1978, series III, box 4, USCOC.

71. Cited in Quinn Mills, “Flawed Victory in Labor Law Reform,” Harvard Business Review (May–June 1979): 92–102.

72. Robert Merry and Albert Hunt, “The Company Line: Business Lobby Gains More Power as It Rides Antigovernment Tide,” Wall Street Journal, May 17, 1978.

73. “The New Chill in Labor Relations,” Business Week, October 24, 1977; Stein, Pivotal Decade, 187; Mills, “Flawed Victory in Labor Law Reform.”

74. “A Potent New Business Lobby,” Business Week, May 22, 1978; Thomas Ferguson and Joel Rogers, “Labor Law Reform and Its Enemies,” The Nation, January 6–13, 1979; Jefferson Cowie, “Notes and Documents: ‘A One-Sided Class War’: Rethinking Doug Fraser’s 1978 Resignation from the Labor-Management Group,” Labor History 44:3 (August 2003): 307–14; Charles Mohr, “Business Using Grass-Roots Lobby,” New York Times, April 17, 1978.

75. G. J. Santoni, “The Employment Act of 1946: Some History Notes,” Federal Reserve Bank of St. Louis Review, November 1986.

76. Humphrey’s original bill would have “establish[ed] a national policy and nationwide machinery for guaranteeing to all adult Americans able and willing to work the availability of equal opportunities for useful and rewarding employment.” “Summary of S.50,” introduced January 15, 1975, thomas.loc.gov.

77. Ross Wilhelm, “Inside Business: Employment Bill: Prod to Inflation” (unpublished proof slated for distribution week of June 28, 1976), BRA.

78. Lewis Foy to Members of the Business Roundtable, May 22, 1978, 1978 Correspondence, BRA; R. A. Riley to Members of the Business Roundtable, March 9, 1978, 1978 Correspondence, BRA; Roundtable Report, No. 78-2, March 1978.

79. “Full Employment and Balanced Growth Act of 1978,” Public Law 95-523, October 27, 1978; David Vogel, Fluctuating Fortunes: The Political Power of Business in America (New York: Basic Books, 1989), 156.

80. On the unemployment rate, see Paul O. Flaim, “Population Changes, the Baby Boom, and the Unemployment Rate,” Monthly Labor Review, August 1990, Bureau of Labor Statistics, www.bls.gov.

81. Jimmy Carter, “State of Union Address Delivered before a Joint Session of the Congress,” January 19, 1978, in Woolley and Peters, The American Presidency Project.

82. Barry Bosworth to Charlie Schultze, “Current Status of the Anti-Inflation Program, April 22, 1978,” Chief of Staff Selig Papers, box 167, JEC.

83. Irving Shapiro, “Du Pont Corporate News,” January 20, 1978, Domestic Policy Staff—Eizenstat Papers, box 157, JEC. On Shapiro and Carter, see Phillips-Fein, Invisible Hands, 198.

84. “Inflation Is Everybody’s Business, Anti-Inflation Brochure,” August 3, 1978, Strauss Files, box 8, JEC; “President Carter’s Anti-Inflation Program, COWPS/NAAP Anti-Inflation Briefing,” December 13, 1978, Chief of Staff Selig Papers, box 167, JEC; Julian E. Zelizer, Jimmy Carter (New York: Times Books, 2010), 89.

85. McCraw, Prophets of Regulation, 261–96.

86. “All You Ever Wanted to Ask about the Wage-Price Guidelines: An Interview with Alfred E. Kahn, Who Explains in Simple Terms How the Standards Work,” Nation’s Business, July 1979.

87. Richard J. Levine and Urban C. Lehner, “Carter’s New Inflation Attack,” Wall Street Journal, October 25, 1978; “President’s Anti-Inflation White Paper,” October 24, 1978, Chief of Staff Selig Papers, box 167, JEC.

88. “Remarks of the President at the Dinner Meeting of the Business Council, Washington DC,” December 13, 1978, box 15, File Business Council 1978–79, PR.

89. Herbert Markley to NAM Membership, December 4, 1978, box 200, NAM.

90. “Industry’s Focus on Inflation” conference brochure, March 28–30, 1979, box 222, NAM.

91. Sheraton Harris to Jimmy Carter, December 13, 1978, Special Advisor—Inflation Kahn Papers, box 8, JEC.

92. “Memorandum for Steve Selig and Richard Reiman Re: Anti-inflation Plan for the Group of Nine,” March 12, 1979, Chief of Staff Selig Files, box 167, JEC.

93. “Notes of meeting held December 14, 1978 in the Offices of the Business Roundtable concerning Anti-Inflation,” December 14, 1978, Chief of Staff Selig Papers, box 169, JEC.

94. Harris to Carter, December 13, 1978.

95. “Notes of meeting held on December 14, 1978 in the Offices of the Business Roundtable concerning Anti-Inflation.”

96. “Memorandum for Steve Selig and Richard Reiman,” March 12, 1979.

97. Jack Carlson to Alfred E. Kahn, September 5, 1979, Chief of Staff Selig Papers, box 167, JEC.

98. Missy Mandell and Susan Irving to Anne Wexler and Richie Reiman, September 29, 1979, Special Advisor—Inflation Kahn Papers, box 5, JEC.

99. “Statement of Thomas A. Murphy, Chairman, Business Roundtable,” September 28, 1979, Special Advisor—Inflation Kahn Papers, box 5, JEC.

100. “Recommendation to the President: Wage-Price Guidelines Should Be Ended: They Distort Real Inflation Issues,” Roundtable Report, No. 80-6, July 1980.

101. Market Research Corporation, “Voters’ Evaluation of the Candidates on Seven Selected Presidential Qualities,” Robert Teeter Papers, series “1980 George Bush Presidential Campaign Data (1979–1980),” box 1, GHWB.

102. “ ‘Inflation Czar’ Will Take Apart His Title,” Cornell Chronicle 14:35 (July 14, 1983); William Greider, Secrets of the Temple: How the Federal Reserve Runs the Country (New York: Simon and Schuster, 1987); Greta R. Krippner, Capitalizing on Crisis: The Political Origins of the Rise of Finance (Cambridge, MA: Harvard University Press, 2011).

103. See Leon N. Lindberg and Charles S. Maier, eds., The Politics of Inflation and Economic Stagnation: Theoretical Approaches and International Case Studies (Washington, DC: Brookings Institution, 1985) and Niall Ferguson et al., eds., The Shock of the Global: The 1970s in Perspective (Cambridge, MA: Belknap Press of Harvard University Press, 2010).

104. Werner Abelshauser, Deutsche Wirtschaftsgeschichte. Von 1945 bis zur Gegenwart [German Economic History: From 1945 to Present] 2nd ed. (Munich: C. H. Beck, 2011), 28–32, 372–83; Konrad H. Jarausch, After Hitler: Recivilizing Germans, 1945–1995 (Oxford: Oxford University Press, 2006), 92. On the social and economic effects of stagflation on West German political culture, see also Anselm Doering-Manteuffel and Raphael Lutz, eds., Nach dem Boom: Perspektiven auf die Zeitgeschichte seit 1970 [After the Boom: Perspectives on Contemporary History since 1970], 2nd ed. (Göttingen: Vandenhoeck and Ruprecht, 2010).

CHAPTER 5

The chapter epigraph is taken from “The Mood Turns Mean” (undated brochure), box 217, NAM.

1. “Consumer Probe” transcript, December 11, 1976, Saturday Night Live episode 10, season 2, http://snltranscripts.jt.org/76/76jconsumerprobe.phtml. The video is available at http://www.hulu.com/watch/115713.

2. Virginia Slims American Women’s Poll 1974, April 1974, and Harris Survey, May 1975, iPOLL Databank, Roper Center.

3. Nuclear Power Development, July 1976 and Cambridge Reports National Omnibus Survey, January 1979, iPOLL Databank, Roper Center.

4. Harris Survey, February 1971, and General Electric Survey, October 1980, iPOLL Databank, Roper Center.

5. David Skeel, The New Financial Deal: Understanding the Dodd-Frank Act and Its (Unintended) Consequences (Hoboken, NJ: Wiley, 2011).

6. Mark Green, “Why the Consumer Bill Went Down,” The Nation, February 25, 1978, 198.

7. Gerald Ford, “Remarks at the Annual Meeting of the Chamber of Commerce of the United States,” April 28, 1975, in Woolley and Peters, The American Presidency Project.

8. Lawrence B. Glickman, Buying Power: A History of Consumer Activism in America (Chicago: University of Chicago Press, 2009), 155–87.

9. Nadel, The Politics of Consumer Protection.

10. Marchand, Advertising the American Dream; Richard Tedlow, “From Competitor to Consumer: The Changing Focus of Federal Regulation of Advertising, 1914–1938,” Business History Review 55:1 (1981): 35–58; Harris and Milkis, The Politics of Regulatory Change, 148.

11. On postwar consumerism, see especially Cohen, A Consumers’ Republic and Jacobs, Pocketbook Politics. See also Glickman, Buying Power and Hilton, Prosperity for All.

12. Newspaper count conducted by author. Newspapers surveyed were the New York Times, Washington Post, Wall Street Journal, Chicago Tribune, and Los Angeles Times. Periodical data from Nadel, The Politics of Consumer Protection, 35.

13. Cohen, A Consumers’ Republic, 14–15.

14. Gary T. Ford, “State Characteristics Affecting the Passage of Consumer Legislation,” Journal of Consumer Affairs 11:1 (Summer 1977): 177–82; Sharon Oster, “An Analysis of Some Causes of Interstate Differences in Consumer Regulations,” Economic Inquiry 18:1 (January 1980): 39–54; Kenneth Meier, “The Political Economy of Consumer Protection: An Examination of State Legislation,” Western Political Quarterly 40:2 (June 1987): 343–59.

15. William A. Lovett, “State Deceptive Trade Practice Legislation,” Tulane Law Review 46 (1971–72): 724–60; Cohen, A Consumers’ Republic, 345–63.

16. Daniel P. Carpenter, Reputation and Power: Organizational Image and Pharmaceutical Regulation at the FDA (Princeton: Princeton University Press, 2010); Tobbell, Pills, Power, and Policy; Cohen, A Consumers’ Republic, 353, 360.

17. Derthick and Quirk, The Politics of Deregulation; Horwitz, The Irony of Regulatory Reform, 77–79; Cohen, A Consumers’ Republic, 22, 25, 353, 365.

18. “Hill Group Charges Nixon Neglects the Consumer,” Washington Post, August 11, 1969; Morton Mintz, “Nixon Offers Program to Protect Consumers,” Washington Post, October 31, 1969.

19. Edward Grimes, “Virginia Knauer, Consumer Advocate, Dies at 96,” New York Times, October 27, 2011; Richard Nixon, “Executive Order 11583—Office of Consumer Affairs,” February 24, 1971, in Woolley and Peters, The American Presidency Project. Knauer occupied that position under Nixon, Ford, and Reagan, interrupted only during the Carter administration when Esther Peterson, whom Johnson had made the first Special Assistant for Consumer Affairs, replaced her. The Office on Consumer Affairs was eliminated during budget cuts negotiated between Democrat Bill Clinton and the Republican-controlled House of Representatives in the late 1990s. See Bill McAllister, “No Protection in Sight: Consumer Affairs Agency Marked for Death by Congress,” Washington Post, December 21, 1995.

20. “Republican Party Platform of 1972,” in Woolley and Peters, The American Presidency Project; “Roy Ash to Richard Nixon, May 23, 1973,” Jeffery Eves File, box 1, GRF; “Virginia Knauer to Richard Nixon, May 31, 1973,” Melvin Laird Papers, box A144, GRF.

21. Jay Brenneman to Board of Directors [of the Federal Reserve], August 5, 1975, box B20, Federal Reserve Subject File Consumer Confidence, GRF.

22. “The Crisis in Credibility: Theme of a Marketing Conference to Which You Are Invited,” April 9, 1970, box 222, NAM.

23. “The Consumer Revolution,” May 1970, series II, box 27, USCOC.

24. “Business-Consumer Relations Code,” Chamber of Commerce Newsletter, April 1970, series II, box 3, USCOC; “Consumer Role for Associations,” Association Letter (Washington, DC: Association Department, Chamber of Commerce of the United States), November 1970, series II, box 5, USCOC.

25. “Summary of Remarks of Samuel C. Johnson, The Business Council Meeting, Hot Springs, Virginia, October 10, 1975,” box 15, PR.

26. “Consumer Role for Associations,” November 1970; Ritter F. Shumway, “The Consumer Imperative,” address to the Durham, North Carolina, Chamber of Commerce, February 18, 1971, series II, box 27, USCOC.

27. See, for example, Sanford Jacoby’s history of welfare capitalism. Jacoby, Modern Manors.

28. Friedman, “A Friedman Doctrine.”

29. “Third Chamber TV Spot Tells Why Consumer Is Boss,” Chamber of Commerce Newsletter, May 1972, series II, box 3, USCOC.

30. Malcolm D. MacArthur, “Associations and the Law: The Consumer Product Safety Act,” Association Letter (Washington, DC: Association Department, Chamber of Commerce of the United States), October 1973, series II, box 5, USCOC.

31. George Koch to William Baroody Jr., September 6, 1973, Melvin Laird Papers, box A133, GRF.

32. Morton Mintz, “Nader Writes off Nixon Administration on Aid to Consumers,” Washington Post, March 21, 1969.

33. Trustees of Dartmouth College v. Woodward, 17 U.S. 518 (1819).

34. Ralph Nader, Mark Green, and Joel Seligman, Taming the Giant Corporation (New York: W. W. Norton, 1976); Jules Bernstein et al., “Conceptual Draft of the Corporate Democracy Act,” in The Big Business Reader: On Corporate America, ed. Mark Green et al. (New York: Pilgrim Press, 1991), 500–511.

35. Michael W. McCann, “Public Interest Liberalism and the Modern Regulatory State,” Polity 21:2 (Winter 1988): 373–400; David Vogel, “The Public-Interest Movement and the American Reform Tradition,” Political Science Quarterly 95:4 (Winter 1980–81): 607–27.

36. Samuel Huntington, “The Marasmus of the ICC: The Commission, the Railroads, and the Public Interest,” Yale Law Journal 61 (April 1952): 467–509; Marver H. Bernstein, Regulating Business by Independent Commission (Princeton: Princeton University Press, 1955). For a thorough analysis of the origins and uses of capture theory, see Horwitz, The Irony of Regulatory Reform, 27–38.

37. “Summary of S. 1160 as Introduced March 8, 1973,” box 346, SE.

38. Joan Claybrook to Public Citizen membership, July 17, 1975, series 1, box 2, CCAG; Congress Watch, “Why We Need a Consumer Protection Agency,” series 1, box 2, CCAG; “Summary and Explanation of the Consumer Protection Act of 1977,” April 1977, series 14, box 110, CCAG.

39. D. E. Marable, “ABCDEFG Nears Final Verdict,” NAM Reports 9:30 (August 5, 1974), box 213, NAM; “Dallace E. Marable,” Daily Press (Hampton, VA), August 16, 2000.

40. Jack Anderson, “An Anti-Consumer Filibuster,” Washington Post, July 28, 1974; George Schwartz, “The Successful Fight against a Federal Consumer Protection Agency,” MSU Business Topics 27:3 (Summer 1979): 45–57; Mark Green and Andrew Buchsbaum, The Corporate Lobbies: Political Profiles of the Business Roundtable and the Chamber of Commerce (Washington, DC: Public Citizen, 1980).

41. Schwartz, “The Successful Fight,” 46–47.

42. John A. Stuart to all members of the NAM Marketing Committee, March 27, 1972, box 171, NAM.

43. “Consumer Protection Organization Act of 1970: Roll Vote No. 407,” Congressional Record 116 (December 1, 1970): 39320.

44. Jerome R. Gulan to John Young, December 3, 1970, Charles W. Colson Files, box 90, National Federation of Independent Business, RMN.

45. John D. Morris, “House Unit Votes Consumer Panel,” New York Times, June 12, 1970; David Vienna, “Consumer Agency Gets Approval of Senate Unit,” Washington Post, July 1, 1970; Morton Mintz, “Senate Passes Bill to Protect Consumers,” Washington Post, December 2, 1970. The tie-breaking vote belonged to Richard Bolling (D-MO), who was on vacation at the time. Observers disagreed on how Bolling would have voted if he had been present. While he supported the bill in principle, he later told a marketing professor that he felt the bill as presented was poorly structured and likely would have voted against it. See Schwartz, “The Successful Fight” and Green and Buchsbaum, The Corporate Lobbies.

46. John D. Morris, “House Approves a Federal Agency to Aid Consumers,” New York Times, October 15, 1971.

47. Sam Ervin to G. Everett Suddreth Jr., December 9, 1970, box 213, SE.

48. U.S. Chamber of Commerce to Business Leader, July 30, 1970, enclosed with Sam Ervin to James Williams, August 6, 1970, box 210, SE.

49. H. C. Roemer to Sam Ervin, August 3, 1970, box 213, SE.

50. James Allen to Sam Ervin, February 26, 1973, box 299, SE.

51. George Koch to Sam Ervin, October 4, 1972, box 346, SE; George Koch to Sam Ervin, October 4, 1972, box 268, SE; Sam Ervin, “Statement in Opposition to the Consumer Protection Agency Bill,” fall 1972, box 346, SE; Anderson, “An Anti-Consumer Filibuster”; Schwartz, “The Successful Fight”; Spencer Rich, “Senate Rejects Cloture Bid on Consumer Bill,” Washington Post, October 4, 1972. Ervin claimed that one of his staff members, not he, had requested prepackaged speeches from lobbyists, while Allen denied making any request for written materials.

52. All letters enclosed with Paul Rhyne Jr., to Sam Ervin, September 20, 1972, box 268, SE.

53. “Consumer Protection Organization Act of 1972: Roll Vote No. 522,” Congressional Record 118 (October 5, 1972): 33865.

54. Frederick Williford to Sam Ervin, July 24, 1974, box 330, SE.

55. Consumer Federation of America, “Consumer Federation of America Ranks Senators on Consumer Protection Agency Voting Records,” July 14, 1974, box 346, SE.

56. “Consumer Protection—Agency for Consumer Advocacy Act of 1974: Roll Vote No. 415,” Congressional Record 120 (September 19, 1974): 31904.

57. Anderson, “An Anti-Consumer Filibuster”; Ralph Nader, “Ralph Nader on the Agency for Conusmer [sic] Advocacy,” Washington Post, September 19, 1974.

58. “Memorandum for: WB, From WV, Subject: Consumer Protection Agency,” June 27, 1973, Melvin Laird Papers, box A144, GRF.

59. Roper Report 74-5, May 1974 and Roper Report 75-5, iPOLL Databank, Roper Center.

60. Virginia Knauer to Gerald Ford, September 20, 1974, William Timmons File, box 2, GRF.

61. Elizabeth Shelton, “Virginia Knauer: The First Year,” Washington Post, May 10, 1970; “Consumer Aide Hails Vote on Protection Plan,” Washington Post, September 29, 1971.

62. “Consumer Protection Agency: You Think You Don’t Have a Stake in It? Well, Read On,” Association Letter (Washington, DC: Association Department, Chamber of Commerce of the United States) March 1972, series II, box 5, USCOC.

63. “An Analysis of the Results of the Business Roundtable Poll on the Consumer Advocacy Agency,” Daniel Melnick to Senate Government Operations Committee, May 5, 1975, Max Friedersdorf Files, box 11, GRF.

64. Opinion Research Corporation, “Government and the Consumer,” March 1975, Max Friedersdorf Files, box 11, GRF. The $60 million figure came from the Senate bill under consideration in 1975, S. 200, which allocated for the CPA a budget of $15 million for the first year, $20 million for the second year, and $25 million for the third year. The House bill requested less. For reference, $60 million in 1975, as a percentage of the size of the economy, would exceed $500 million in 2013.

65. “Newspapers which have carried editorials opposing independent consumer protection agency (as of June 23, 1975),” L. William Seidman Files, box 291, GRF.

66. Ronald Reagan, “Wanted: Protection from Consumerists,” Globe Democrat (St. Louis, Missouri), May 30, 1975, John Marsh Files, box 10, GRF.

67. George W. Koch to Max Friedersdorf, May 30, 1975, Max Friedersdorf Files, box 11, GRF.

68. “An Analysis of the Results of the Business Roundtable Poll on the Consumer Advocacy Agency.” For data on other polls, see, for example, Marian Burros, “Consumer Unrest Staggering,” Washington Post, May 17, 1977; Public Citizen Congress Watch Newsletter, May 31, 1977, series 14, box 10, CCAG.

69. Charles Percy to Frank Horton, June 6, 1975, Max Friedersdorf Files, box 11, GRF.

70. Reader’s Digest, May 1975, 192–94.

71. Richmond Times Dispatch, May 3, 1975, in Max Friedersdorf Files, box 11, GRF.

72. Pertschuk, Revolt against Regulation, 69–71.

73. Sam Ervin to George Meany, June 6, 1974, Jeffrey Eves Files, box 1, GRF.

74. Public Citizen Newsletter, July 24, 1974, series I, box 2, file 60, CCAG. See also NAM Guidelines for Action, March 27, 1975, Max Friedersdorf Files, box 11, GRF.

75. Forrest Rettgers to NAM Members, April 3, 1975, Max Friedersdorf Files, box 11, GRF.

76. Robert Teeter to Richard Cheney, November 12, 1975, Robert Teeter Papers, box 63, GRF.

77. Bob Wolthius to Max Friedersdorf, January 27, 1975, William Kendall Files, box 1, GRF.

78. Bill Baroody to Gerald Ford, [March 1975], William Baroody Files, box 1, GRF.

79. “Statement by the President, November 4, 1975,” William Baroody Files, box 16, GRF.

80. O. Pendleton Thomas to Members, September 15, 1975, BRA.

81. Summary of H.R. 7575 as introduced June 4, 1975, thomas.loc.gov.

82. Morton Mintz, “Senate Passes Bill to Protect Consumers,” Washington Post, December 2, 1970; Burt Schorr, “Consumer Protection Fadeout,” Wall Street Journal, November 4, 1975.

83. National Association of Manufacturers, “Major National Legislative Issues,” May 1975, box 220, NAM.

84. National Association of Manufacturers, “NAM: A Reflection, We the Representatives of American Industry,” 1975, Jeffrey Eves Files, box 3, GRF. See also Association Letter (Association Department, Washington, DC), October 1974 and December 1974, series II, box 5, USCOC.

85. Public Citizen Congress Watch Newsletter, April 7, 1977, series 14, box 110, CCAG.

86. During the CPA filibusters of 1972 and 1974, Senate rules stipulated that the votes of two-thirds of voting members were required for cloture to end a filibuster. In 1975, the Senate changed the rule to allow debate to cease with the votes of three-fifths of sworn members, or 60 in most cases. See “Filibuster and Cloture,” United States Senate, http://www.senate.gov/artandhistory/history/common/briefing/Filibuster_Cloture.htm.

87. Ralph Nader to Marc Caplan, June 21, 1977, series 14, box 10, CCAG.

88. James L. Ferguson to Members, May 17, 1977, 1977 Correspondence, BRA.

89. Green and Buchsbaum, Corporate Lobbies, 109–15; Patrick J. Akard, “Corporate Mobilization and Political Power: The Transformation of U.S. Economic Policy in the 1970s,” American Sociological Review 57:5 (October 1992): 597–615; Schwartz, “The Successful Fight,” 51–52.

90. “Watch out for the Watchdog,” Washington Star, March 22, 1975.

91. Public Citizen Congress Watch Newsletter, November 7, 1975, series 1, box 2, CCAG; “Support the Office of Consumer Representation,” in “Marc Caplan to Citizen Lobby Members, January 31, 1978,” series 14, box 110, CCAG; Public Citizen Congress Watch Newsletter, July 17, 1975, series 14, box 110, CCAG.

92. Esther Peterson, White House exit interview, JEC.

93. Remarks by Jimmy Carter to the Public Citizen Forum, Washington, DC, August 9, 1976, series 14, box 113, CCAG.

94. Public Citizen Congress Watch to District Organizers, June 23, 1977, series 14, box 10, CCAG; Public Citizen Letter, July 17, 1975, series 14, box 110, CCAG.

95. Esther Peterson, White House exit interview; “Carter Dealt Major Defeat on Consumer Bill,” Congressional Quarterly (February 11, 1978): 323–25.

96. “A Winning Streak for Business,” Business Week, February 27, 1978.

97. “Carter Dealt Major Defeat.”

98. On Southern antibusiness populism, particularly regarding the anti–chain store movement of the early twentieth century, see Marc Levinson, The Great A&P and the Struggle for Small Business in America (New York: Hill and Wang, 2011). On regional support for social regulation, see Peter Pashigian, “Environmental Regulation: Whose Self-Interests Are Being Protected?” Economic Inquiry 23:4 (October 1985): 551–84.

99. Glickman, Buying Power, 295.

100. See Marc Allen Eisner, Antitrust and the Triumph of Economics: Institutions, Expertise, and Policy Change (Chapel Hill: University of North Carolina Press, 1991).

CHAPTER 6

1. Roundtable Report, June 1993; David W. Dunlap, “Final Pan Am Departure,” New York Times, September 4, 1992.

2. Stein, Pivotal Decade, 254.

3. Dimitry Anastakis, “The Last Automotive Entrepreneur? Lee Iacocca Saves Chrysler, 1978–1986,” Business and Economic History On-Line (Business History Conference) 5 (2007), http://www.thebhc.org/publications/BEHonline/2007/anastakis.pdf; James M. Bickley, “Chrysler Corporation Loan Guarantee Act of 1979: Background, Provisions, and Cost,” Congressional Research Service, February 8, 2008, http://digitalcommons.ilr.cornell.edu/cgi/viewcontent.cgi?article=1575&context=key_workplace; Robert Sobel, Car Wars: The Untold Story (New York: E. P. Dutton, 1984), 286–87.

4. Robert B. Reich and John D. Donahue, New Deals: The Chrysler Revival and the American System (New York: Times Books, 1985), 10–46; Joe Kohn, “Courage in the Family: Father, Son to Share Discipleship Message,” The Michigan Catholic, March 9, 2007.

5. Lee Iacocca, Iacocca: An Autobiography, with William Novak (New York: Bantam, 1984); Roundtable Report, No. 81-5, June 1981.

6. Jeremy Peters, “Thomas Murphy, 90, Leader of G.M. in 1970’s Prosperity, Dies,” New York Times, January 19, 2006; Marylin Bender, “Murphy Decries Proposals for Planning the Economy,” New York Times, June 24, 1975.

7. Milliken quoted in Anastakis, “The Last Automotive Entrepreneur.” See also Walter Adams and James W. Brock, “Corporate Size and the Bailout Factor,” Journal of Economic Issues 21:1 (March 1987): 61–85.

8. David R. Henderson, “A Step toward Feudalism: The Chrysler Bailout,” Cato Institute Policy Analysis No. A, January 15, 1980. For contemporary government reports recapitulating the argument that smaller firms disproportionately bore regulatory costs, see “Corporate Strategies of Automotive Manufacturers, Harbridge House, Inc., Commissioned by the U.S. Department of Transportation, June 1978” and “The Impact of Federal Regulation on the Financial Structure and Performance of Domestic Motor Vehicle Manufacturers, Mark Anderson and Joseph Blair, U.S. Department of Transportation, National Highway Traffic and Safety Administration, May 31, 1978,” Special Advisor Inflation—Lewis, box 68, JEC.

9. “Draft of John Fisher Statement to House Banking & Currency Committee,” in Robert G. Wingerter to John W. Fisher, October 11, 1979, box 200, NAM.

10. Reich and Donohue, New Deals, 61–66; Anastakis, “The Last Automotive Entrepreneur.”

11. “Council for a Competitive Economy,” promotional brochure, undated (probably 1978), box 200, NAM; Jerry Knight, “Federal Aid for Chrysler Big Mistake, Lobby Says,” Washington Post, September 13, 1979.

12. Peters, “Thomas Murphy.”

13. “Draft of John Fisher Statement.”

14. “Ball Company: Our History,” www.ball.com/history/; John W. Fisher obituary, Leelanau Enterprise, www.leelanaunews.com/news/OldArchive/Obituaries/John_W_Fisher.html.

15. “Draft of John Fisher Statement.” See also David Vogel, “A Case Study of Clean Air Legislation, 1967–1981,” in The Impact of the Modern Corporation: Size and Impacts, ed. Betty Bock et al. (New York: Columbia University Press, 1984), 309–86 and Michael P. Walsh, “Automobile Emissions,” in The Reality of Precaution: Comparing Risk Regulation in the United States and Europe, ed. Jonathan Wiener et al. (Washington, DC: RFF Press, 2011), 142–58.

16. Preston H. Haskell to Lee A. Iacocca, October 16, 1979, box 200, NAM.

17. Jimmy Carter, “Inaugural Address,” January 20, 1977, in Woolley and Peters, The American Presidency Project.

18. Stein, Pivotal Decade, 155, 30–39; “U.S. Trade in Goods and Services—Balance of Payments (BOP) Basis Value in Millions of Dollars, 1960 thru 2011,” U.S. Census Bureau, Foreign Trade Division, June 8, 2012, www.census.gov.

19. Wells, Economist in an Uncertain World, 259.

20. Brenner, The Economics of Global Turbulence, 169; Krippner, Capitalizing on Crisis.

21. Sam Pickard to William Baroody, November 25, 1974, William J. Baroody Files, box 3, GRF.

22. Gerald Ford, “Remarks Concluding the Summit Conference on Inflation,” September 28, 1974, in Woolley and Peters, The American Presidency Project.

23. Gerald R. Ford, “Address to a Joint Session of the Congress on the Economy,” October 8, 1974, in Woolley and Peters, The American Presidency Project; Gerald R. Ford, “Executive Order 11821—Inflation Impact Statements,” November 27, 1974, in Woolley and Peters, The American Presidency Project.

24. Gerald Ford, “Remarks at the Annual Meeting of the Chamber of Commerce of the United States,” April 28, 1975, in Woolley and Peters, The American Presidency Project.

25. Center for the Study of American Business, “Ford Administration’s Efforts to Reform Government Regulation of Business: Proceedings of a Seminar, Washington University, September 1975,” Publication No. 6, October 1975, L. William Seidman Files, 1974–77, box 290, GRF; Harris and Milkis, The Politics of Regulatory Change, 102; James E. Anderson, “The Struggle to Reform Regulatory Procedures, 1978–1998,” Policy Studies Journal 26:3 (September 1998): 482–98.

26. Jim Tozzi, “OIRA’s Formative Years: The Historical Record of Centralized Regulatory Review Preceding OIRA’s Founding,” Administrative Law Review 63 (Special Edition 2011): 37–69.

27. Marshall Loeb, “The Corporate Chiefs’ New Class,” Time, April 14, 1980.

28. Roundtable Report, No. 74-12, December 1974; Roundtable Report, No. 75-6, August 1975.

29. Harris and Milkis, The Politics of Regulatory Change, 80. See also Vogel, Fluctuating Fortunes and McQuaid, Uneasy Partners.

30. The classic assessment of industrialists’ influence over economic regulations in the first two decades of the twentieth century is Gabriel Kolko, The Triumph of Conservatism: A Re-Interpretation of American History, 1900–1916 (New York: Free Press, 1963). On broadcast regulation, see Ronald H. Coase, “The Federal Communications Commission,” Journal of Law & Economics 2 (October 1959): 1–40 and David A. Moss and Michael R. Fein, “Radio Regulation Revisited: Coase, the FCC, and the Public Interest,” Journal of Policy History 15:4 (2003): 389–416.

31. Robert L. Bradley Jr., Capitalism at Work: Business, Government, and Energy (Salem, MA: M&M Scrivener Press, 2009), 178; Horwitz, The Irony of Regulatory Reform, 46–89.

32. Derthick and Quirk, The Politics of Deregulation, 1–28. On the economic arguments for deregulation, see McCraw, Prophets of Regulation and Thomas Romer and Howard Rosenthal, “Modern Political Economy and the Study of Regulation,” in Public Regulation: New Perspectives on Institutions and Policies, ed. Elizabeth E. Bailey (Cambridge, MA: MIT Press, 1987), 73–116. On the politics of trucking deregulation, see Shane Hamilton, Trucking Country: The Road to America’s Wal-Mart Economy (Princeton: Princeton University Press, 2008).

33. Derthick and Quirk, The Politics of Deregulation, 154.

34. Roundtable Report, No. 80-5, June 1980; “Position Statements and Other Documents of the Business Roundtable, 1973–2003,” December 2003, BRA.

35. See Akard, “Corporate Mobilization and Political Power.”

36. Ford, “Remarks at the Annual Meeting of the Chamber of Commerce.”

37. For brief yet thorough accounts of the 1976 campaign, see Zelizer, Jimmy Carter, 31–52 and Wilentz, Age of Reagan, 64–78.

38. Jimmy Carter, “Executive Order 12044: Improving Government Regulations,” March 23, 1978, in Woolley and Peters, The American Presidency Project.

39. Barnaby Feder, “Frank Cary, Past Chairman of I.B.M., Is Dead at 85,” New York Times, January 6, 2006; Roundtable Report, No. 78-3, April 1978.

40. Roundtable Report, No. 79-11, December 1979.

41. The agencies studied were: the Environmental Protection Agency, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, the Department of Energy, the Employee Retirement Income Security Act, and the Federal Trade Commission. Roundtable Report, No. 78-5, June 1978; Roundtable Report, No. 79-3, March 1979; Arthur Andersen & Co., Cost of Government Regulation Study for the Business Roundtable (Chicago: A. Andersen, 1979). In 1976, conservative economist Murray Weidenbaum, working for the American Enterprise Institute, attempted to calculate the overall economic burden imposed by all government regulations. With dubious methodologies, he estimated the cost at $100 billion. For a critique of that estimate, see Harris and Milkis, The Politics of Regulatory Change, 9.

42. “Testimony of Frank T. Cary, Chairman of the Board, International Business Machines Corporation, on behalf of the Business Roundtable before the Senate Governmental Affairs Committee at Hearing on Regulatory Reform, March 20, 1979,” in James Keogh to Members of the Business Roundtable, March 27, 1979, 1979 Correspondence, BRA; “Testimony of Richard D. Wood, Chairman and Chief Executive Officer, Eli Lilly & Co., on behalf of the Business Roundtable before the Subcommittee on Administrative Law and Governmental Relations, House Judiciary Committee, February 1, 1980,” 1980 Correspondence, BRA.

43. “Summary of H.R. 3263,” as introduced March 27, 1979, thomas.loc.gov.

44. Eizenstat quoted in Anderson, “The Struggle to Reform Regulatory Procedures.”

45. “Regulatory Reform Should Give the Regulated and Regulators Equal Status,” Roundtable Report, No. 80-2, March 1980.

46. Anderson, “The Struggle to Reform Regulatory Procedures.”

47. John W. Fisher, “Regulation: Like Income Tax,” 1979, box 200, NAM; “Regulatory Reform Legislation, Recommendations of the Business Roundtable,” in Wood Testimony, February 1, 1980.

48. Frank Cary to Business Roundtable Members, June 10, 1980, 1980 Correspondence, BRA.

49. “No Regulatory Reform Bill Passed; Roundtable Effort Will Continue,” Roundtable Report, No. 80-8, September 1980.

50. Paperwork Reduction Act (44 U.S.C. 3501 et seq.); Tozzi, “OIRA’s Formative Years,” 62; Harris and Milkis, The Politics of Regulatory Change, 101. See also Philip J. Cooper, The War against Regulation: From Jimmy Carter to George W. Bush (Lawrence: University Press of Kansas, 2009).

51. On Connally, see James Reston, The Lone Star: The Life of John Connally (New York: Harper and Row, 1989). On Bush, see Baker, Work Hard, 73–97.

52. Roundtable Report, No. 80-9, November 1980; “Energy’s Role in the Economy: The Long and Short of It, Remarks by C. C. Garvin, Jr., Chairman of the Board, Exxon Corporation, at the Economic Outlook Conference, Clemson and Furman Universities and the Greater Greenville Chamber of Commerce, Greenville, South Carolina, December 12, 1980,” in Wallace Bates to Members of the Business Roundtable, December 23, 1980, 1980 Correspondence, BRA.

53. Roundtable Report, No. 80-10, December 1980.

54. Ronald Reagan, “Executive Order 12291—Federal Regulation,” February 17, 1981, in Woolley and Peters, The American Presidency Project.

55. George Bush to Clifton Garvin, March 25, 1981, 1981 Correspondence, BRA.

56. Al Simmons to Senator John Tower, March 8, 1981, Task Force on Regulatory Relief: C. Boyden Gray Files, GHWB.

57. Anderson, “The Struggle to Reform Regulatory Procedures,” 493.

58. Roundtable Report, No. 81-5, June 1981; John Opel to Members, September 4, 1981, 1981 Correspondence, BRA.

59. John Opel to Members, March 31, 1982, 1982 Correspondence, BRA.

60. Roundtable Report, No. 82-9, October 1982; “Business Coalition on Regulatory Reform Strategy for Across-the Board Regulatory Reform Legislation (H.R. 746),” October 19, 1982, BRA; John Opel to Members of the Business Roundtable, October 18, 1982, BRA.

61. Steven Roberts, “Democrats Regain Control in House,” November 4, 1982; “Reforming Regulation,” Baltimore Sun, December 22, 1982.

62. Roundtable Report, No. 83-8, September 1983; Stuart Auerbach, “NAM: White House Lags on Regulatory Reform,” Washington Post, September 2, 1983.

63. Felicity Barringer, “Bush’s Deregulators Going Out of Business,” Washington Post, August 11, 1983.

64. Wilentz, Age of Reagan, 170; Harris and Milkis, The Politics of Regulatory Change, 251–54.

65. “Regulatory Reform’s Success,” Chicago Tribune, August 17, 1983.

66. Anny Wong, The Roots of Japan’s International Environmental Policies (New York: Garland, 2001), 65–66.

67. Roundtable Report, March 1984; Roundtable Report, April 1987; Roundtable Report, August 1984; Roundtable Report, October 1985; Roundtable Report, March 1990. On the success of environmental regulation in spite of opposition by business, see Meg Jacobs, “The Politics of Environmental Regulation: Business-Government Relations in the 1970s and Beyond,” in What’s Good for Business: Business and American Politics since World War II, ed. Kim Phillips-Fein and Julian E. Zelizer (Oxford: Oxford University Press, 2012), 212–32.

68. Roundtable Report, March 1991; Deborah R. Hensler et al., Class Action Dilemmas: Pursuing Public Goals for Private Gain (Santa Monica, CA: RAND, 2000), 15–25.

69. For a comparative analysis of risk regulation between Europe and the United States, see David Vogel, The Politics of Precaution: Regulating Health, Safety, and Environmental Risks in Europe and the United States (Princeton: Princeton University Press, 2012).

70. Steven K. Vogel, Freer Markets, More Rules: Regulatory Reform in Advanced Industrial Countries (Ithaca: Cornell University Press, 1996); Jonathan Wiener et al., eds., The Reality of Precaution: Comparing Risk Regulation in the United States and Europe (Washington, DC: RFF Press, 2011). On neoliberalism, see, among many, Harvey, A Brief History of Neoliberalism. On the persistence of corporatism in West Germany, despite the influence of American economic policy ideas, see Paul Erker, “ ‘Amerikanisierung’ der westdeutschen Wirtschaft? Stand und Perspektiven der Forschung” [Americanization of West German Economy? State and Perspective of Research], in Amerikanisierung und Sowjetisierung in Deutschland, 1945–1970 [Americanization and Sovietization in Germany, 1945–1970], ed. Konrad Jarausch and Hannes Sigrist (Frankfurt/Main: Campus-Verlag, 1997), 137–45.

CHAPTER 7

1. Chamber of Commerce of the United States, “Let’s Rebuild, America: Summary,” in William Verity to John Fisher, July 9, 1980, box 200, NAM.

2. Richard W. Rahn, “A Perspective on the U.S. Economic Outlook and Policy for 1980–81, Substance of a Report to the Board of Directors of the Chamber of Commerce of the United States,” June 19, 1980, series 1, box 1e, USCOC.

3. Economic Report of the President 1981 (Washington, DC: GPO, 1981); Stein, Pivotal Decade, 211–15; Krippner, Capitalizing on Crisis, 118–19.

4. “The Real Business Agenda: Fight Inflation, Improve Products and Jobs, Enhance Economy and Society,” Roundtable Report, No. 80-3, April 1980; “Let’s Rebuild America’s Economic Base,” in Verity to Fisher, July 9, 1980.

5. William E. Rothschild, The Secret to GE’s Success (New York: McGraw-Hill, 2007), 127–43; Robert Slater, The New GE: How Jack Welch Revived an American Institution (Homewood, IL: Business One Irvin, 1993), 17–22.

6. Reginald H. Jones, “Capital Requirements of Industry and Government,” speech to the Annual Meeting of the Business Roundtable, New York City, June 16, 1975, 1975 Correspondence, BRA; Reginald Jones, “Why Business Must Seek Tax Reform,” Harvard Business Review (September–October 1975): 49–55.

7. Roundtable Report, No. 79-6, July 1979.

8. Alexander Trowbridge to NAM Board Member, August 11, 1980, box 201, NAM.

9. Steven A. Bank, From Sword to Shield: The Transformation of the Income Tax, 1861 to Present (Oxford: Oxford University Press, 2010), 66–67.

10. Alan J. Auerbach, “The New Economics of Accelerated Depreciation,” National Bureau of Economic Research Working Paper Series, January 1982.

11. Mark Wilson, “The Advantages of Obscurity: World War II Tax Carryback Provisions and the Normalization of Corporate Welfare,” in What’s Good for Business: Business and Politics since World War II, ed. Kim Phillips-Fein and Julian E. Zelizer (Oxford: Oxford University Press, 2012), 16–44; Glenn Asner, “The Cold War and American Industrial Research” (Ph.D. diss., Carnegie Mellon University, 2006); Thomas Hanchett, “U.S. Tax Policy and the Shopping-Center Boom of the 1950s and 1960s,” American Historical Review 101:4 (October 1996): 1082–1110.

12. National Association of Manufacturers, “Capital Recovery Allowances: Depreciation Reform for 1980,” box 217, NAM.

13. Caroline Atkinson, “Senate Unit Votes $33 Billion Cut in Taxes for 1981,” Washington Post, August 21, 1980.

14. Barber B. Conable Jr., Congress and the Income Tax (Norman: University of Oklahoma Press, 1989), 54; “A Call for Moderation of Tax Growth to Halt Industry’s ‘Decapitalization,’ ” Roundtable Report, No. 80-7, August 1980.

15. Christopher Conte, “A Look at ‘10-5-3’ Depreciation Proposal, Focus of Attention in Tax-Cut Climate,” Wall Street Journal, July 24, 1980.

16. Schulman, The Seventies, 193–217.

17. Stockman’s cynical memoir is a scathing indictment of the failed budget policies of the Reagan administration and provides excellent insight into the clash between ideology and governance. At the same time, the tell-all book successfully articulates the central arguments and inherent contradictions of supply-side economics. See David A. Stockman, The Triumph of Politics: How the Reagan Revolution Failed (New York: Harper and Row, 1986).

18. Brownlee, Federal Taxation, 73–81. Mellon, who paid the third-highest amount of taxes in the country after John D. Rockefeller and Henry Ford, claimed that high tax rates encouraged wealthy people to cheat on their taxes and that lowering rates would increase compliance. In the mid-1970s, economist Arthur Laffer merely modified the theory to suggest that lower taxes would encourage people to work more. See also David Cannadine, Mellon: An American Life (New York: Knopf, 2006). On the Kennedy/Johnson tax cut, see Elizabeth Popp Berman and Nicholas Pagnucco, “Economic Ideas and the Political Process: Debating Tax Cuts in the U.S. House of Representatives, 1962–1981,” Politics and Society 38:3 (September 2010): 347–72. On supply-side doctrine in general, see Jude Wanniski, The Way the World Works: How Economies Fail … and Succeed (New York: Basic Books, 1978).

19. See “The Laffer Curve,” http://www.laffercenter.com/arthur-laffer/the-laffer-curve/.

20. Jack Kemp originally proposed a one-time 30 percent cut, but upon teaming up with William Roth, he agreed to cutting 10 percent per year from three years. Politicians, journalists, and, unfortunately, historians are not often known for their arithmetic skills, and few have pointed out that these plans are not the same. Reducing the top rate of 70 percent, imposed on income in excess of $700,000 in 1978, by 30 percent outright would yield a new top rate of 49 percent [70 –(0.3 × 70) = 70 –21 = 49]. But reducing the rate 10 percent per year for three years would yield a different result. The first year reduction would be 7, bringing the rate to 63 percent. The next would be a 10 percent cut to that new rate, or 63 –6.3, or 56.7. The final cut would be 10 percent from that new rate, or 56.7 –5.67, or 51.03: two points—and more than 4 percent—higher than in the original plan. See Brownlee, Federal Taxation, 136.

21. Stockman, Triumph of Politics, 61.

22. “Tax Cuts: A Remedy for Inflation,” The Heritage Foundation: Backgrounder, no. 143, May 19, 1981, Elizabeth Dole Records, box 15, RWR.

23. In 1981, Stockman caused a great stir when he disclosed to journalist William Greider his belief that the Laffer Curve was a convenient political fiction, a “trojan horse” to sneak in cuts to the top marginal tax rates. Stockman, Triumph of Politics, 56; William Greider, “The Education of David Stockman,” Atlantic Monthly (December 1981): 46.

24. “Executives Sign Up to Aid John Anderson,” Business Week, July 7, 1980; Robert Shogan, “Bush Accuses Reagan of ‘Economic Madness,’ ” Los Angeles Times, April 11, 1980.

25. George Bush, “An Economic Policy for the ’80s,” George Bush for President, Hoffman Papers, box 1, GHWB; Baker, Work Hard, 172–73.

26. Republican Party Platform of 1980, in Woolley and Peters, The American Presidency Project.

27. Roundtable Report, No. 81-4, May 1981.

28. Radio broadcaster Paul Harvey is credited with coining the term “Reaganomics.” See Rupert Cornwell, “Paul Harvey: Radio Broadcaster Who Became the Voice of Middle America,” The Independent, March 5, 2009. On the Roundtable’s indirect lobbying, see Philip F. Jehle to Wayne Valis, April 2, 1981, Elizabeth Dole Records, box OA6385, RWR.

29. “Business Help Asked in Budget Test,” Washington Report (Chamber of Commerce of the United States), April 20, 1981, Elizabeth Dole Records, box OA6385, RWR; “U.S. Chamber of Commerce Activities in Support of President Reagan Following His February 18 Speech on the Economy,” U.S. Chamber of Commerce, Elizabeth Dole Records, box OA6385, RWR; Wayne Valis to Elizabeth Dole, Subject: U.S. Chamber of Commerce, April 3, 1981, Elizabeth Dole Records, box OA6385, RWR.

30. “Economic Recovery Program Calls for Less Federal Spending” and “Cutting Taxes Is the Key to Stimulating Economic Growth,” Mandate for Economic Recovery: A Special Report on President Reagan’s Economic Recovery Plan Prepared by the U.S. Chamber of Commerce, 1981, Jack Burgess Files, box 5, RWR; Elizabeth Dole to Red Cavaney, Subject: Meeting with Ed Meese and Dick Lesher, April 6, 1981, Elizabeth Dole Records, box OA6385, RWR.

31. Alexander Trowbridge to Edwin Meese, January 25, 1982, and Alexander Trowbridge to James Baker, January 25, 1982, both in Elizabeth Dole Records, box 14, RWR.

32. Business and Public Affairs Fortnightly 3:6 (May 15, 1981), enclosed in “NAM Field Flash,” May 21, 1981, box 122A, NAM; Roundtable Report, No. 81-5, June 1981; Martin, Shifting the Burden, 116–20.

33. Lisa Myers, “President Basks in Tax Victory; GOP Rides Telephone ‘Tidal Wave,’ ” Washington Star, July 30, 1981. For a detailed account of the corporate lobbying for ERTA, see Akard, “Corporate Mobilization and Political Power.”

34. Iwan W. Morgan, The Age of Deficits: Presidents and Unbalanced Budgets from Jimmy Carter to George W. Bush (Lawrence: University Press of Kansas, 2009), 84–90; Conable, Congress and the Income Tax, 60; C. Eugene Steuerle, Contemporary U.S. Tax Policy (Washington, DC: Urban Institute Press, 2004); Brownlee, Federal Taxation, 150; Stockman, Triumph of Politics, 267. The notion of 5-10-10 cuts to personal taxes (replacing Kemp-Roth’s original call for 10 percent cuts per year for three years, or 10-10-10) was a political simplification, complicated by the fact that the first cut was pushed back to October 1, 1981; a 5 percent reduction in taxes paid on income earned after October 1, 1981, changed the average tax rate for the entire year, so tax filers in April 1982 saw an actual rate decrease from 1980 to 1981 of only 1.25 percent. (That is, the rate reduction only applied to three months of tax year 1981, so the total effect on the year was ¼ of 5 percent, or 1.25 percent.) The lowest rate remained 0 percent for the first $3,000 (for married couples filing jointly), as enacted by the Carter-era Revenue Act of 1978. But the second-lowest bracket, on income between $3,000 and $5,000, fell from 14 percent to 13.83 percent.

35. Baker, Work Hard, 187.

36. Gil Troy, Morning in America: How Ronald Reagan Invented the 1980s (Princeton: Princeton University Press, 2005), 106.

37. Roundtable Report, No. 82-2, March 1982; Business Roundtable, “Statement on Federal Budget Policy,” May 5, 1982, Elizabeth Dole Records, box 15, RWR.

38. Business Roundtable, “Statement on Federal Budget Policy”; American Stock Exchange Press Release, March 17, 1982, Elizabeth Dole Records, box 14, RWR; Stockman, Triumph of Politics, 303.

39. Theodore Brophy to Members, March 12, 1982, 1982 Correspondence, BRA; Roundtable Report, 82-2, March 1982.

40. “Friday, December 18, 1982” and “Tuesday, December 22, 1982,” in Ronald Reagan, The Reagan Diaries, ed. Douglas Brinkley (New York: Harper Collins, 2007), 56–57.

41. In his memoir, James Baker describes Reagan’s acceptance of the tax hike, noting the president’s colorful language when he finally agreed: “ ‘All right, goddammit,’ he said. ‘I’m gonna do it, but it’s wrong.’ … The president later said he regretted capitulating.” Baker, Work Hard, 187–88.

42. Martin, Shifting the Burden, 135–38; Alvin C. Warren Jr. and Alan J. Auerbach, “Transferability of Tax Incentives and the Fiction of Safe Harbor Leasing,” Harvard Law Review 95:8 (June 1982): 1752–86; C. Eugene Steuerle, The Tax Decade: How Taxes Came to Dominate the Public Agenda (Washington, DC: Urban Institute Press, 1992), 60.

43. Roundtable Report, No. 83-6, July 1983.

44. Roundtable Report, No. 82-3, April 1982; Martin, Shifting the Burden, 139–41.

45. Thomas Edsall, “Business Divided Over Tax Leasing,” Los Angeles Times, April 13, 1982.

46. Donald Regan to Ronald Reagan, Subject: Business Roundtable’s Budget Recommendation, March 24, 1982, Elizabeth Dole Records, box 15, RWR.

47. Elizabeth Dole to Edwin Meese, July 13, 1982, Elizabeth Dole Records, box 15, RWR.

48. Robert Dole to Theodore Brophy, July 16, 1982, Elizabeth Dole Records, box 15, RWR; Ruben F. Mettler to Members of the Business Roundtable, July 18, 1982, Elizabeth Dole Records, box 15, RWR.

49. Chamber of Commerce of the United States of America, “Reasons to Oppose the Tax Bill,” undated position paper, summer 1982, Wendell Gunn Files, box 1, RWR; Chamber of Commerce of the United States of America, “Tax Increase Will Delay Recovery and Widen Deficit,” Morton Blackwell Files, box 5, RWR; Chamber of Commerce of the United States, “Q and A on the U.S. Chamber of Commerce Position on the Tax Bill,” undated position paper, summer 1982, Wendell Gunn Files, box 1, RWR.

50. “New Deputy for Defense, William Paul Thayer,” New York Times, December 7, 1982; Timothy Schellhardt, “Chamber of Commerce Showdown Looms after Split on Tax Increase,” Wall Street Journal, August 30, 1982.

51. Kenneth B. Noble, “Washington Watch: Chamber’s Bid to End Split,” New York Times, August 30, 1982; Schellhardt, “Chamber of Commerce Showdown Looms”; “New Deputy for Defense, Paul Thayer”; William F. Buckley, “What to Do with Thayer?” National Review, June 28, 1985.

52. Janice Farrell to Red Cavaney, “Unions That Supported 1982 Tax Bill,” August 20, 1982, Ron Bonatati Files, box 1, RWR; Elizabeth Dole, “Meeting with Deficit Reduction Action Group,” August 17, 1982, Elizabeth Dole Records, box OA5459, RWR; Lou Cannon and Thomas Edsall, “Big Tax Bill Gains Bipartisan Support as Key Vote Nears,” Washington Post, August 19, 1982.

53. “Presidential Telephone Calls Re Tax Bill,” undated list of phone calls, August 1982, Elizabeth Dole Records, box OA5459, RWR; Theodore Brophy to Ronald Reagan, August 17, 1982, Ronald Reagan to Theodore Brophy, August 26, 1982, Elizabeth Dole to Donald T. Regan, August 24, 1982, and John F. Welch to Ronald Reagan, August 17, 1982, all in Elizabeth Dole Records, box OA5459, RWR; Martin, Shifting the Burden, 153; Dorothy Collin, “Congress Passes Tax-Hike Bill,” Chicago Tribune, August 20, 1982.

54. Red Cavaney, “Meeting with Business Chief Executive Officers,” February 9, 1983, BE Business-Economics, box 2, RWR; Leslie Wayne, “Business Talks Back to Reagan,” New York Times, January 30, 1983.

55. Figures from Morgan, Age of Deficits, appendix C, 271. On the Fed and the recovery, see Benjamin M. Friedman, Day of Reckoning: The Consequences of American Economic Policy Under Reagan and After (New York: Random House, 1988), 148–49.

56. Krippner, Capitalizing on Crisis, 102–5. The difference between imports and exports in goods in 1982, according to the census, was $36.485 billion; in 1987, it reached $159.557 billion. The deficit then decreased somewhat but rose again to a new record of $165.831 billion in 1994, after which time it hardly looked back. The trade deficit in goods reached its all-time high in 2006 at $835.689 billion and stood at $735.313 billion in 2012. Figures are nominal, not inflation adjusted. “U.S. Trade in Goods—Balance of Payments (BOP) Basis vs. Census Basis,” March 7, 2013, U.S. Census Bureau, Foreign Trade Division.

57. Roundtable Report, No. 83-3, March 1983.

58. Roundtable Report, No. 82-5, May 1983.

59. Friedman, Day of Reckoning, 159; Brenner, The Economics of Global Turbulence, 196–97; Roundtable Report, No. 82-10, December 1982.

60. Roundtable Report, No. 82-10, December 1982; Roundtable Report, January 1985; Gerald P. Dwyer Jr., “Federal Deficits, Interest Rates and Monetary Policy,” Journal of Money, Credit and Banking 17:4 (November 1985): 655–81; Paul Evans, “Do Large Deficits Produce High Interest Rates?” American Economic Review 75:1 (March 1985): 68–87.

61. Jeffrey H. Birnbaum and Alan S. Murray, Showdown at Gucci Gulch: Lawmakers, Lobbyists, and the Unlikely Triumph of Tax Reform (New York: Vintage Books, 1987), 32–33; “Recovery ‘Firmly Under Way,’ Chamber Economists State, But Express Caution about Public Policies’ Impact over Long Term,” U.S. Chamber of Commerce, June 1, 1983, BE Business Economics, box 2, RWR; Morgan, Age of Deficits, 96; Conable, Congress and the Income Tax, 70–72; Roundtable Report, May 1984.

62. Murray Weidenbaum, “I’m All for Free Enterprise, But …,” Whittenmore House Series 7, Washington University, St. Louis, MO, September 15, 1982, Elizabeth Dole Records, box 15, RWR.

63. Morgan, Age of Deficits, 105; Roundtable Report, March 1985; Roundtable Report, April 1985.

64. Robert Beck to Members, January 24, 1985, 1985 Correspondence, BRA; Roundtable Report, May 1985; Roundtable Report, June 1985.

65. Roundtable Report, August 1985; Morgan, Age of Deficits, 109.

66. Roundtable Report, November 1990; Morgan, Age of Deficits, 158–205.

67. The Japanese government, for example, maintained a favorable tax and subsidy policy toward both the industrial and small business communities and did not wade into tax reform politics until its economy collapsed in the 1990s. T. J. Pempel, Regime Shift: Comparative Dynamics of the Japanese Political Economy (Ithaca: Cornell University Press, 1998), 62, 197; Abelshauser, Deutsch Wirtschaftsgeschichte, 286.

68. Alfred D. Chandler Jr., The Visible Hand: The Managerial Revolution in American Business (Cambridge, MA: Belknap Press, 1977).

CHAPTER 8

1. Roundtable Report, November 1985. On Walker, see Jeff Gerth, “A Power Broker’s Many Roles,” New York Times, October 29, 1980; McQuaid, Uneasy Partners, 168; and Birnbaum and Murray, Showdown at Gucci Gulch, 16–17, 48–50. On the Carlton Group, see Edward Cowan, “Carlton Group Spurns Lobbying Limelight,” New York Times, March 18, 1982, and Martin, Shifting the Burden, 116–20.

2. Steuerle, Contemporary U.S. Tax Policy, 129–38; Martin, Shifting the Burden, 159.

3. “The Facts about Corporate Taxation,” in Edward Jefferson to Members of the Business Roundtable Policy Committee, April 3, 1985, BRA; Birnbaum and Murray, Showdown at Gucci Gulch, 11–13, 287; Martin, Shifting the Burden, 11.

4. Brownlee quoted in Steuerle, The Tax Decade, 122; Eric M. Patashnik, Reforms at Risk: What Happens after Major Policy Changes Are Enacted (Princeton: Princeton University Press, 2008), 35–54.

5. Paul Taylor, “Lobbyists Lose the Game, Not the Guccis,” Washington Post, July 31, 1983.

6. Richard Stevenson, “Quiet on the Lobbying Front,” New York Times, February 23, 2001; Birnbaum, The Lobbyists, 18–20, 44–46.

7. Rodgers, Age of Fracture.

8. Taylor, “Lobbyists Lose the Game.”

9. Leslie Wayne, “In Washington, Corporate Power Now Rests in the Hands of Many, Not a Few,” New York Times, May 22, 1983; Linda Grant, “Still Strong: Business Lobbies Find Resistance,” Los Angeles Times, December 19, 1982.

10. Suzanne Garment, “Hope and Hoopla: Levitt’s Lobbyists Go to Washington,” Wall Street Journal, February 13, 1981; William Miller, “Jim Jones Comes Full Circle,” Industry Week, June 3, 1991.

11. David Treadwell, “New Lobbying Group Quickly Gains Influence,” Los Angeles Times, September 19, 1983.

12. Cowan, “Carlton Group Spurns Lobbying Limelight”; Martin, Shifting the Burden, 154; Treadwell, “New Lobbying Group.”

13. Krippner, Capitalizing on Crisis, 28–31; U.S. Bureau of Economic Analysis, National Income and Product Accounts of the United States, 1929–1994, vol. 1 (Washington, DC: Bureau of Economic Analysis, April 1998), 25–30 (Tables 6.5A–C). Financial sector profits as a percent of the total dipped precipitously (to –10 percent) during the financial crisis of 2008–9, during which the sector as a whole lost huge sums of money. By 2011, financial profits once again accounted for a third of all profits. Kathleen Madigan, “Like the Phoenix, U.S. Finance Profits Soar,” Wall Street Journal, March 25, 2011.

14. Roundtable Report, No. 72-12, November 28, 1972; Roundtable Report, June 1988.

15. Krippner, Capitalizing on Crisis, 32.

16. Ibid., 4–5; Louis Hyman, “Rethinking the Postwar Corporation: Management, Monopolies, and Markets,” in What’s Good for Business: American Business and Politics since World War II, ed. Kim Phillips-Fein and Julian Zelizer (Oxford: Oxford University Press, 2012), 195–211; “GE 2002 Annual Report,” http://www.ge.com/files/usa/en/ar2002/ge_ar2002_editorial.pdf.

17. Gerald F. Davis, Managed by the Markets: How Finance Reshaped America (Oxford: Oxford University Press, 2009), 21–22.

18. Roundtable Report, October 1984.

19. T. Boone Pickens, “Two Titans Square Off: How Big Business Stacks the Deck,” New York Times, March 1, 1987; Roundtable Report, May 1985.

20. Roundtable Report, September 1987; Alan Murray, “Conflicting Signals: Lobbyists for Business Are Deeply Divided, Reducing Their Clout,” Wall Street Journal, March 25, 1987; Charles W. Parry, “Letter to the Editor: Charls Walker,” Wall Street Journal, April 7, 1987.

21. Judith Stein, Running Steel, Running America: Race, Economic Policy, and the Decline of Liberalism (Chapel Hill: University of North Carolina Press, 1998), 229–52; Sobel, Car Wars, 219–38.

22. Alexander B. Trowbridge to Henry H. Fowler, June 25, 1980, box 201, NAM; “Text of Policy Statement by Panel to Fight Inflation,” New York Times, June 22, 1980; “Members of Committee to Fight Inflation,” June 22, 1980. On the Committee to Fight Inflation, see also Wells, Economist in an Uncertain World, 231.

23. Alexander Trowbridge to A. C. Nielsen Jr., June 18, 1980, box 201, NAM; Wolfgang Saxon, “Alexander Trowbridge, 76, Ex-Secretary of Commerce, Dies,” New York Times, April 28, 2006.

24. “The Decline of U.S. Industry: Stunted Growth of Productivity” and “Revitalizing the U.S. Economy,” Business Week, June 30, 1980; William Verity to John Fisher, July 9, 1980, box 200, NAM; Sandy Trowbridge to Gene Hardy, “Revitalization Program—Documentation,” July 29, 1980, box 201, NAM. On deindustrialization, plant closings, and labor dislocation, see Michael A. Bernstein, “Understanding American Economic Decline: The Contours of the Late-Twentieth-Century Experience,” in Understanding American Economic Decline, ed. Michael A. Bernstein and David Adler (Cambridge: Cambridge University Press, 1994), 3–33; Barry Bluestone and Bennett Harrison, The Deindustrialization of America: Plant Closings, Community Abandonment, and the Dismantling of Basic Industry (New York: Basic Books, 1982); and Jefferson Cowie, Capital Moves: RCA’s Seventy-Year Quest for Cheap Labor (New York: New Press, 1999).

25. Verity to Fisher, July 9, 1980; Alexander Trowbridge to John O’Hara, June 12, 1980, box 201, NAM; “Issue: A 1980 Tax Reduction Bill,” August 11, 1980, box 201, NAM; “Republican Party Platform of 1980, July 15, 1980” and “Democratic Party Platform of 1980, August 11, 1980,” in Woolley and Peters, The American Presidency Project.

26. “Forward into the Past,” Washington Post, July 8, 1980; Alexander Trowbridge to The Editor, Washington Post, July 17, 1980, box 201, NAM.

27. Otis L. Graham Jr., Losing Time: The Industrial Policy Debate (Cambridge, MA: Harvard University Press, 1992), 1–3, 50–65. See also Stein, Pivotal Decade, 205–44, 252–59, 267–70. On Reich’s influence on Clinton, see Bob Woodward, The Agenda: Inside the Clinton White House (New York: Simon and Schuster, 1984).

28. Graham, Losing Time, 48, 53; Roundtable Report, No. 83-2, February 1983.

29. Business Roundtable, Analysis of the Issues in the National Industrial Policy Debate: Working Papers: Staff Working Papers Prepared for the Business Roundtable Ad Hoc Task Force (New York: Business Roundtable, 1984), 1–26.

30. National Association of Manufacturers, NAM’s Agenda for Regaining America’s Industrial Initiative, 1983, box 217, NAM; Graham, Losing Time, 142, 165–79.

31. Roundtable Report, No. 74-12, December 1974; Roundtable Report, No. 75-3, April 1975. On Burke-Hartke, see Oliveiro, “The United States, Multinational Corporations, and the Politics of Globalization in the 1970s.”

32. Roundtable Report, No. 82-5, May 1983; Roundtable Report, No. 82-6, June 1983; Roundtable Report, February 1985; Roundtable Report, May 1986.

33. Roundtable Report, April 1987; Roundtable Report, November 1986.

34. Maxwell A. Cameron and Brian Tomlin, The Making of NAFTA: How the Deal Was Done (Ithaca: Cornell University Press, 2000), 74, 201; Hermann von Bertrab, Negotiating NAFTA: A Mexican Envoy’s Account (Westport, CT: Praeger, 1997), 1–7, 116; Todd Tucker and Lori Wallach, The Rise and Fall of Fast Track Trade Authority (Washington, DC: Public Citizen, 2009).

35. Charles Lewis, “The Treaty No One Could Read: How Lobbyists and Business Quietly Forged NAFTA,” Washington Post, June 27, 1993; “Gallup Poll Finds 46% Opposed; 38% in Favor of NAFTA,” Los Angeles Times, November 9, 1993; “Effects of the North American Free Trade Agreement: Hearing before the Committee on Commerce, Science, and Transportation, United States Senate, One Hundred Third Congress, first session, May 6, 1993,” Senate Hearing, 103–917. Elisha’s testimony was also reprinted in Roundtable Report, May 1993. On the NAM’s early history, see chapter 2.

36. See H. Ross Perot, with Pat Choate, Save Your Job, Save Our Country: Why NAFTA Must Be Stopped—Now! (New York: Hyperion, 1993); Patrick Buchanan, “America First, NAFTA Never: It’s Not about Free Trade—It’s about Our Way of Life,” Washington Post, November 7, 1993.

37. Cameron and Tomlin, The Making of NAFTA, 202–4; Clerk of the House of Representatives of the United States, “Final Vote Results for Roll Call Vote 575,” November 17, 1993; U.S. Senate Roll Call Vote 103rd Cong., 1st Sess., November 20, 1993.

38. Murray, “Conflicting Signals”; Paul Blustein, “What Industry Wants from the Next President: Business Likely to Respond with Defensive Tactics,” Washington Post, October 30, 1988.

39. On the internationalization of the business elite, see Justin Greenwood and Henry Jacek, eds., Organized Business and the New Global Order (New York: St. Martin’s Press, 2000). On neoliberal economic ideas in a global context, see in particular Eric Hobsbawm, The Age of Extremes: A History of the World, 1914–1991 (New York: Vintage Books, 1994). For a comparative view of right-wing policymaking in Britain and the United States in the late twentieth century, see Ravi K. Roy and Arthur T. Denzau, Fiscal Policy Convergence from Reagan to Blair: The Left Veers Right (London: Routledge, 2004).

40. Schlozman and Tierney, Organized Interests and American Democracy, 77, 301–3.

41. Robert Reich, Supercapitalism: The Transformation of Business, Democracy, and Everyday Life (New York: Knopf, 2007), 134–35; Center for Responsive Politics, www.opensecrets.org.

42. David Shribman, “Lobbyists Proliferate: So Do the Headaches,” New York Times, July 25, 1982.

43. Craig Colgate, ed., Directory of Washington Representatives of American Associations and Industry, 1977 (Washington, DC: Columbia Books, 1977); Arthur Close, ed., Washington Representatives, 1979 (Washington, DC: Columbia Books, 1979); Arthur Close and Jody Curtis, eds., Washington Representatives, 1985 (Washington, DC: Columbia Books, 1985); Arthur Close, Gregory Bologna, and Curtis McCormick, eds., Washington Representatives, 1990 (Washington, DC: Columbia Books, 1990).

44. Robert G. Kaiser, So Damned Much Money: The Triumph of Lobbying and the Corrosion of American Government (New York: Knopf, 2009).

45. Birnbaum, The Lobbyists, 7.

46. Zelizer, On Capitol Hill, 177–232; Kaiser, So Damned Much Money, 115–17; Ansolabehere, Snyder, and Tripathi, “Are PAC Contributions and Lobbying Linked?”

47. Robert Rosenblatt and Ronald Ostrow, “Robert Gray—Capital’s King of Clout,” Los Angeles Times, May 13, 1984.

48. Ulrike Schaede, Cooperative Capitalism: Self-Regulation, Trade Associations, and the Antimonopoly Law in Japan (Oxford: Oxford University Press, 2000), 4, 16; W. Miles Fletcher, “Dreams of Economic Transformation and the Reality of Economic Crisis in Japan: Keidanren in the Era of the ‘Bubble’ and the Onset of the ‘Lost Decade,’ from the Mid-1980s to the Mid-1990s,” Asia Pacific Business Review 18:2 (April 2012): 149–65.

49. Michael Useem, The Inner Circle: Large Corporations and the Rise of Business Political Activity in the U.S. and U.K. (New York: Oxford University Press, 1984), 71; European Round Table, Origins, www.ert.eu/about#Origins.

EPILOGUE

1. Citizens United v. Federal Election Commission, 558 U.S. 310 (2010); Barack Obama, “The President’s Weekly Address,” January 23, 2010, in Woolley and Peters, The American Presidency Project.

2. Gerald Davis, “The Twilight of the Berle and Means Corporation,” Seattle University Law Review 34 (2011): 1121–38.

3. Nouriel Roubini and Stephen Mihm, Crisis Economics: A Crash Course in the Future of Finance (New York: Penguin, 2010); Suzanne Mettler, “Reconstituting the Submerged State: The Challenges of Social Policy Reform in the Obama Era,” Perspectives on Politics 8:3 (September 2010): 803–24.

4. David Kirkpatrick, “For Romney, a Course Set Long Ago,” New York Times, December 18, 2007.

5. For recent lobbying figures, see Center for Responsive Politics, opensecrets.org. See also www.uschamber.com, www.nam.org, and www.businessroundtable.org.

6. U.S. Chamber of Commerce, “Letter Calling for Passage of H.R. 1, the ‘American Recovery and Reinvestment Act of 2009,’ ” February 6, 2009, http://www.uschamber.com/issues/letters/2009/letter-calling-passage-hr-1-american-recovery-and-reinvestment-act-2009.

7. Robert Pear, “Health Care Industry in Talks to Shape Policy,” New York Times, February 20, 2009; Jacob S. Hacker, “The Road to Somewhere: Why Health Reform Happened, or Why Political Scientists Who Write about Public Policy Shouldn’t Assume They Know How to Shape It,” Perspectives on Politics 8:3 (September 2010): 861–76.

8. Lichtenstein, State of the Union, 181–85.

9. On PATCO, see Joseph A. McCartin, Collision Course: Ronald Reagan, the Air Traffic Controllers, and the Strike That Changed America (Oxford: Oxford University Press, 2011). On divisions over labor among liberals, see Stein, Pivotal Decade, 262–300.

10. Elizabeth Warren, “Unsafe at Any Rate,” Democracy: A Journal of Ideas 5 (Summer 2007): 8–19; Skeel, The New Financial Deal.

11. Morgan, The Age of Deficits, 206–65.