The Powell Memo

Via James Surowiecki comes a link to the Powell Memo, a document written in August 1971 by lawyer Lewis Powell (soon to be elevated to the Supreme Court) for the Chamber of Commerce reporting that "the American economic system is under broad attack," "from the college campus, the pulpit, the media, the intellectual and literary journals, the arts and sciences, and from politicians." It mentions a Wall Street Journal column reporting that General Motors is "in trouble." It goes on: "few elements of American society today have as little influence in government as the American businessman, the corporation, or even the millions of corporate stockholders. If one doubts this, let him undertake the role of 'lobbyist' for the business point of view before Congressional committees. Current examples of the impotency of business, and of the near-contempt with which businessmen's views are held, are the stampedes by politicians to support almost any legislation related to 'consumerism' or to the 'environment.'"