Readers of history know that government efforts to reduce monopoly power and protect the consumer often fall short. Some protect competitors rather than the consumer. Famous break-ups of large companies like Standard Oil and Alcoa have had little impact on the companies’ success. And regulators tend to be captured by the regulated [1].
So can government intervention be beneficial to a company—and also serve the community? Let me introduce you to Theodore Vail, president of AT&T in its early days. I learned about him from the great management guru Peter Drucker. You be the judge.