Neither Markets nor Administration: Brandeis and the Antitrust Reforms of 1914

The election of 1912 retains its hold on the imagination of students of American political development. Long interpreted as a conflict between tradition and modernity, Martin Sklar has recently argued that the old order had passed by 1912. In law and economy, competitive-proprietary capitalism had been eclipsed by administration. The political conflict was now over who would administer prices and investment, the corporation of the state?