Read e-book online Antitrust: The Case for Repeal PDF
By Dominick T. Armentano
This journey de strength rips the highbrow conceal off antitrust legislation to bare it as a bludgeon utilized by companies opposed to their rivals. in contrast to many critics, Professor Armentano incorporates the good judgment of his research to the fullest attainable quantity: "My place on antitrust hasn't ever been ambiguous," he writes. "All of the antitrust legislation and all the enforcement supplier authority could be summarily repealed. The antitrust equipment can't be reformed; it has to be abolished."
Professor Armentano starts with the main rigorous and revealing account of the Microsoft antitrust conflict to seem in print. He extra discusses different contemporary situations, together with Toys 'R' Us, Staples, and Intel, in addition to many old instances. He covers approximately each attainable intent for antitrust, together with cost solving, predatory pricing, product tie-ins, vertical and horizontal mergers, and lots of extra.
This is a crucially very important paintings in our new period of antitrust enforcement. This 2d variation is totally revised and contains a remedy of Murray Rothbard's contributions to the speculation of monopoly and pageant. It ends through arguing that antitrust is opposite to either free-market financial conception and the safety of estate rights in a loose society.
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Extra resources for Antitrust: The Case for Repeal
8 Early empirical Franklin M. Fisher, James W. McKie, and Richard B. , 5Franklin M. Fisher, John J. McGowan, and John E. s. v. : MIT Press, 1983). 6 Ibid" p. 111. 7Wall Street Journal, January 11, 1982, p. 3. 8Harold Demsetz, The Market Concentration Doctrine, American Enterprise Institute-Hoover Institution Policy Studies (August 1973); idem, "Industry Structure, Market Rivalry, and Public Policy," Journal of Law and Economics 16 (April 1973): 1-9. 15 Antitrust: The Case for Repeal work in industrial organization had appeared to discover a slight positive correlation between market concentration (the percentage of the market sales or assets controlled by a small group of firms, usually 'four) and the average profits earned by firms in such markets.
In the absence of true market values, even supporters of divestiture cannot be sure that the existence of rival wire-line suppliers actually improved overall resource efficiency and advanced the elusive public interest. 23 Conclusions Very little academic or public credence is given to antitrust policy as special-interest regulation or as government-industrial planning. Government regulation and planning have been sharply criticized by economists and, by and large, have been professionally discredited.
See also George j. Stigler, "A Theory of Oligopoly," Journal of Political Economy 72, no. 11 (February 1964): 44-61. 5A negative relationship between collusion and profitability is found by Peter Asch and joseph j. " Review of Economics and Statistics 58 (February 1976): 1-12. See also Howard Marvel, Jeffrey Netter, and Anthony Robinson, "Price Fixing and Civil Damages: An Economic Analysis," Stanford Law Review 40 (1988): 561-78. 37 Antitrust: The Case for Repeal monopolist is said to misallocate economic resources relative to their allocation under conditions of pure competition.
Antitrust: The Case for Repeal by Dominick T. Armentano