By Dominick T. Armentano
This journey de strength rips the highbrow conceal off antitrust rules to bare it as a bludgeon utilized by companies opposed to their opponents. 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 "All of the antitrust legislation and all the enforcement employer authority could be summarily repealed. The antitrust equipment can't be reformed; it needs to be abolished."
Professor Armentano starts with the main rigorous and revealing account of the Microsoft antitrust conflict to seem in print. He additional discusses different fresh instances, together with Toys 'R' Us, Staples, and Intel, in addition to many historic circumstances. He covers approximately each achievable reason for antitrust, together with fee solving, predatory pricing, product tie-ins, vertical and horizontal mergers, and lots of extra.
This is a crucially vital paintings in our new period of antitrust enforcement. This 2d variation is totally revised and incorporates a remedy of Murray Rothbard's contributions to the speculation of monopoly and festival. It ends by way of arguing that antitrust is opposite to either free-market fiscal thought and the safety of estate rights in a unfastened society.
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Extra info for Antitrust: The Case for Repeal
13 Antitrust: The Case for Repeal By at least the mid 1970s it was becoming clear that much of the antitrust case history did not confirm the resource misallocations suggested by orthodox monopoly theory. 2 The thrust of antitrust policy in these cases was, if anything, to restrain the competitive performance of the leading firm and thus protect the existing market structure of generally smaller, less efficient business organizations. s. v. 3 IBM, the disastrous government antitrust case against the International Business Machines Corporation (IBM) that contributed significantly to the movement away from traditional antitrust policy.
27 Antitrust: The Case for Repeal per se, had been the primary obstacle to a truly open-market competitive process in telecommunications. 22 The Federal Communications Commission has long restricted entry into long distance telecommunications and had regulated the rates of the monopoly supplier, AT&T. Entry into local telephone markets had been legally restricted by state governments, and phone service and rates had been regulated by public utility authorities; the dominant supplier was, again, AT&T.
Antitrust attorneys, private plaintiffs, consultants, and the antitrust bureaucracy itself have much to gain from a continuation of antitrust regulations and much to lose from any repeal of or reduction in antitrust enforcement. Consequently, the beneficiary' groups have every incentive to strenuously resist reform and repeal and to denounce all antitrust critics in the 17William J. Baumol and Janusz A. Ordover, "Use of Antitrust to Subvert Competition," Journal of Law and Economics 28 (May 1985): 247-65.