Revitalizing Antitrust in its Second Century
Essays on Legal, Economic, and Political Policy
Published on 23. October 1991
Book
Hardback
568 pages
978-0-89930-439-7 (ISBN)
Description
America has entered its second century of antitrust law. The United States has come through the 1980s of laissez faire when antitrust had its lowest profile since the Hoover days, lawyers advised clients that anything goes, and theorists justified non-enforcement of the law by Chicago School economics--the claim that antitrust exists only to create efficiency and that business freedom creates efficiency. Meanwhile, the European Community has a developing body of antitrust law. It rejects the Chicago School as ignoring market realities, and it incorporates into its law values of opportunity, access, open markets and the right to be free from exploitation. The newly democratized European nations and Russia all have moved to market economies and adopted antitrust law in the image of the European Community, in spite of the carpet baggers trying to sell laissez faire. The Supreme Court of the United States has now reversed the swing of the U.S. antitrust pendulum, rejecting Chicago School theory in favor of market reality and accepting the fact that there is an antitrust right not to be coerced and abused by market power.
What is the intellectual foundation of this new antitrust--this law that respects efficiency, progressiveness, access, and freedom from abuse of power, and which reflects the need of business firms to be active and agile players in a global marketplace? That foundation is contained in Revitalizing Antitrust in its Second Century. This is the only book that provides the underpinnings for the new antitrust. It is the only book that helps the scholar/lawyer/business advisor/student understand the direction of antitrust and how to predict the course of the law. Four of the authors in the book were cited by the Supreme Court in its June opinion; one was cited eleven times. Revitalizing Antitrust in its Second Century is an indispensable volume for lawyers, economists, business advisors, sholars and students of law, economics, business and political economy.
What is the intellectual foundation of this new antitrust--this law that respects efficiency, progressiveness, access, and freedom from abuse of power, and which reflects the need of business firms to be active and agile players in a global marketplace? That foundation is contained in Revitalizing Antitrust in its Second Century. This is the only book that provides the underpinnings for the new antitrust. It is the only book that helps the scholar/lawyer/business advisor/student understand the direction of antitrust and how to predict the course of the law. Four of the authors in the book were cited by the Supreme Court in its June opinion; one was cited eleven times. Revitalizing Antitrust in its Second Century is an indispensable volume for lawyers, economists, business advisors, sholars and students of law, economics, business and political economy.
More details
Language
English
Place of publication
United States
Publishing group
Bloomsbury Publishing Plc
Target group
College/higher education
Dimensions
Height: 235 mm
Width: 157 mm
Thickness: 37 mm
Weight
1056 gr
ISBN-13
978-0-89930-439-7 (9780899304397)
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Schweitzer Classification
Persons
HARRY FIRST is Professor of Law at New York University.
ELEANOR M. FOX is Professor of Law at New York University.
ROBERT PITOFSKY is Professor of Law at Georgetown University.
ELEANOR M. FOX is Professor of Law at New York University.
ROBERT PITOFSKY is Professor of Law at Georgetown University.
Content
Introduction Setting the Stage Retrospective and Prospective: Where Are We Coming From? Where Are We Going? by Eleanor M. Fox and Lawrence A. Sullivan Economic Frameworks Theories of Industrial Organization by William G. Shepherd Anchoring Antitrust Economics--A Lexicon by Eleanor M. Fox and Lawrence A. Sullivan Antitrust and a Dynamic Economy The Economic Goals of Antitrust: Efficiency, Consumer Welfare, and Technological Progress by Joseph F. Brodley Antitrust, Efficiency, and Progress by F. M. Scherer Antitrust and Enforceability: An Empirical Perspective by Walter Adams and James W. Brock Law and Enforceability: A Litigator's Perspective by Jerome A. Hochberg The Creation and Uses of Economic Power Predation, Exclusion, and Efficiency Monopoly Power and Market Power in Antitrust Law by Thomas G. Krattenmaker, Robert H. Lande, and Steven C. Salop Containing Section 2 by Donald F. Turner Delimiting Antitrust by Oliver E. Williamson Against Orthodoxy by Ira M. Millstein and Jeffrey L. Kessler The Dangerousness of Power by Louis B. Schwartz Competition Chasing the Tail of Efficiency by Victor H. Kramer Abusive and Exclusionary Practices in the European Community Abuse of a Dominant Position and Exclusionary Practices: A European View by Alexis Jacquemin Vertical Restraints: Efficiency, Consumer Benefit, and a Dynamic Economy Legal Reasoning and the Jurisprudence of Vertical Restraints: The Limitations of Neoclassical Economic Analysis in the Resolution of Antitrust Disputes by John J. Flynn and James F. Ponsoldt Economics of Vertical Arrangements by William S. Comanor Vertical Restraints: Flynn, Ponsoldt, Comanor, and the Sea of Doubt by Thomas E. Kauper Competitors' Collaboration--A Methodology for Analysis by Eleanor M. Fox Barriers to Entry and Global Competition Ease of Entry: Has the Concept Been Applied Too Readily? by Richard Schmalensee Foreign Competitors and Potential Competition: Geographic Market Definition in an International Context by George Hay, John C. Hilke, and Philip B. Nelson Tempering Antitrust with Industrial Policy? Modifying Antitrust to Meet International Competition: The Case of Semiconductors by Harry First Putting the Brakes on the Merger Movement--Antitrust, Yes; Industrial Policy, No by William F. Mueller Antitrust in its Second Century Congress and Antitrust Policy After the Reagan Administration by Edward Correia Dual Antitrust Enforcement in the 1990s by Robert Abrams and Lloyd Constantine The Case for Federal Uniformity by Jerome A. Hochberg Business Judgement versus Antitrust Justice--The Forgotten Private Plaintiff by Stephen D. Susman Does Antitrust Have a Future? by Robert Pitofsky Conclusion Index