Economics And Antitrust Policy

Overview

As the economists and lawyers contributing to this volume demonstrate, an important element of the Reagan Revolution has been a fundamental shift in antitrust policy and enforcement away from the focus on market structure during the 1960s and early 1970s toward a greater emphasis on the effects of business conduct on economic efficiency and consumer welfare. This shift, caused both by a marked change in the political climate and changes in the thinking and research output of economists, has had an enormous impact...

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Overview

As the economists and lawyers contributing to this volume demonstrate, an important element of the Reagan Revolution has been a fundamental shift in antitrust policy and enforcement away from the focus on market structure during the 1960s and early 1970s toward a greater emphasis on the effects of business conduct on economic efficiency and consumer welfare. This shift, caused both by a marked change in the political climate and changes in the thinking and research output of economists, has had an enormous impact on the volume and substance of antitrust activity during the 1980s. The articles collected here--each written especially for this volume--assess these changes in antitrust activity in key policy areas: mergers, vertical restraints, monopoly, and strategic behavior.

The authors examine particularly the impact of the change in antitrust enforcement and policy on social welfare. They point out where changes have been beneficial, evaluate whether further changes in policy or law are desirable, and probe unresolved issues, such as whether current policy pays too little attention to the possible strategic or anticompetitive aspects of some forms of business conduct. Taken together, these essays offer a multifaceted explanation of the ways in which economics has contributed to changes in antitrust policy and law. By providing a more thorough understanding of developments in industrial economics during the last 30 years, the authors also provide lawyers, economists, business executives, and students of business administration with new insights into possible future trends in antitrust policy and law--and their impact on the structure of American businesses and markets.

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Product Details

  • ISBN-13: 9780899303864
  • Publisher: ABC-CLIO, Incorporated
  • Publication date: 1/23/1989
  • Pages: 254
  • Product dimensions: 6.14 (w) x 9.21 (h) x 0.63 (d)

Meet the Author

ROBERT J. LARNER is an economist and Vice President of Charles River Associates, Inc., a Boston-based research and consulting firm.

JAMES W. MEEHAN, JR., is Professor of Economics at Colby College.

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Table of Contents

Introduction by Robert J. Larner and James W. Meehan, Jr.

Unmasking Monopoly: Four Types of Economic Evidence by Kenneth G. Elzinga

Strategic Business Behavior and Antitrust by Charles A. Holt and David T. Scheffman

Merger Policy in the 1970s and 1980s by F.M. Scherer

The Revolution in Antitrust Analysis of Vertical Relationships: How Did We Get From There to Here? by Lawrence J. White

Vertical Price Restraints: Per se or Rule of Reasons? by Robert J. Larner

Antitrust Law and Economics at the Political Frontier by Donald I. Baker

Antitrust Law and Policy: Rule of Law or Economic Assumptions? by Timothy J. Waters

The Structural School, Its Critics, and Its Progeny: An Assessment by James W. Meehan, Jr., and Robert J. Larner

Postscript: In Memory of H. Michael Mann by Robert J. Larner and James W. Meehan, Jr.

Bibliography of the Works of H. Michael Mann

Index

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