Theodore Roosevelt—who denounced the “unfair money-getting” that created a “small class of enormously wealthy and economically powerful men, whose chief object is to hold and increase their power”—rewrote the rules. He broke up monopolies to make the economy more fair, returning power to small businesses and entrepreneurs. He enacted protections for working people. And he created the national parks, public spaces for all to enjoy.

Market competition provides a mechanism for weeding out those who underperform.