of "big business" causes consternation among capitalists. The conflicts from the 1960s and the continuing Vietnam War cause distrust of the government to spread on the left while taxes and increasing regulations encourage a resistance to government on the right. The mid-1970s are America's peak of economic equality with the national consensus still expecting the government to act on behalf of the public good. At the same time, Americans have become overwhelmed by novelty. A longing for more comfortable, familiar times turns into a "national immersion in nostalgia". Coordinated plans by conservative corporate interests sparked efforts to realize the vision of the Powell Memorandum, which described a four-front conservative war on academia, media, politics, and the legal system to counter trends in liberalism and restraints on capitalism. This period saw the founding or expansion of the Pacific Legal Foundation and Mountain States Legal Foundation, the Business Roundtable, American Enterprise Institute, Hoover Institution, and The Cato Institute. The book Anarchy, State, and Utopia argued for a minimal state. Regulations were rolled back and antitrust efforts dwindled. The Friedman doctrine emboldened big business to place profits above all other considerations. The counterculture's "do your own thing" became the capitalists' "every man for himself". Part Three "Part Three: Wrong Turn" sees the 1980 election of Ronald Reagan, who famously claimed, "Government is not the solution to our problem; government is the problem." As the recession ended and the stock market was booming, Congress made the top tax rate the lowest in 50 years. William D. Cohan is quoted as saying about the finance industry, "Starting in 1970, prudence gave way to pure greed." There was a proliferation of complex derivatives, incognito leverage, mortgage-backed securities, leveraged buyouts and venture capital, hedge funds, junk bonds, as well as the start of 401Ks which opened an immense new revenue stream for Wall Street while enticing employers to do away with traditional pension plans, coupled with deregulation laws and tax changes. The top income tax rate went from 70% to 50% in 1982, then to 38.5%, then to 28% in 1986. Grover Norquist's Taxpayer Protection Pledge enforced hard-right orthodoxy. Michael Horowitz wrote a memo on behalf of the Sarah Scaife Foundation that laid out a three-pronged vision for conservative influence in the legal system: recruit top students from top law schools; "adopt and fund a strategy that sought a genuine right-wing revolution in the high-end legal profession