Molting Time For Antitrust

Overview

While the purpose of antitrust policy is to protect competition, competition that removes all restraints may defeat its own goal. Dudley H. Chapman, in a revisionist analysis of antitrust history and policy, argues that our country needs practical government policy to replace our doctrinaire and unrealistic antitrust rules. The Chicago School and the economic theory on which it is based are rejected as an intellectual scandal. Competition is an end in itself and it is not the primary purpose of anti-trust to ...

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Overview

While the purpose of antitrust policy is to protect competition, competition that removes all restraints may defeat its own goal. Dudley H. Chapman, in a revisionist analysis of antitrust history and policy, argues that our country needs practical government policy to replace our doctrinaire and unrealistic antitrust rules. The Chicago School and the economic theory on which it is based are rejected as an intellectual scandal. Competition is an end in itself and it is not the primary purpose of anti-trust to lower consumer prices. Chapman, a former antitrust official, uses historical materials to build his case for a new and practical antitrust policy. He proposes that we look not to Chicago but to Europe for our model.

Compared to their older, more rigid U.S. counterparts, European laws are far more rationally conceived and realistic, Chapman says. Europeans believe that some restraints on competitive freedom, both private and government, are necessary to preserve the ongoing competitive process. The book develops the thesis that for current U.S. policy to mature or molt its rigid shell we need to remove criminal penalties and prohibit abuses of market-dominating positions. Anyone in the U.S. or Europe who is active in antitrust and related issues of regulatory and trade policy--lawyers, economists, government officials in the executive branch and in Congress, academicians and students--will find in this book an important and controversial agenda.

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Product Details

  • ISBN-13: 9780275934781
  • Publisher: ABC-CLIO, Incorporated
  • Publication date: 10/30/1991
  • Pages: 272
  • Lexile: 1370L (what's this?)
  • Product dimensions: 6.14 (w) x 9.21 (h) x 0.63 (d)

Meet the Author

DUDLEY H. CHAPMAN has served in the Office of Legal Counsel in the Department of Justice, on a Cabinet-level task force on Oil Import Control, and as assistant chief of the Foreign Commerce Section in the Antitrust Division.

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Table of Contents

Foreword

Preface

Introduction

Origins of the Sherman Act

The Saga of Standard Oil

The Legislative Odyssey of the Sherman Act

Antitrust as Economic Policy

The Theology of Antitrust: Fanciful Teachings of Economic Theory

Flaws in the Price Theory

Dissatisfaction with the Market

Reflections from Abroad

The Elements of a Competitive Policy

Epilogue: A Final Consultation with our Friendly Cynic

Bibliography

Index

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