The Political Economy of the Sherman Act The First One Hundred Years

by Sullivan, E. Thomas

• ISBN13: 9780195066425
• ISBN10: 0195066421
• Format: Hardcover
• Copyright: 1991-04-18
• Publisher: Oxford University Press

Summary

This book examines the legislative history and the political economy of the Sherman Antitrust Act--the main federal statute that regulates economic activity in the United States. Tracing the evolution of the antitrust movement in the United States since 1890, this collection of essays examines the role of government in regulating markets, and the balance it and its critics seek between the goal of limited government and the protection of free, open and competitive markets, With markets today being more international in nature and the world economy being globalized, Americans need to rethink how laws have defined markets and the implications for international transactions. Given the recent changes in Europe, this book has a significant contribution to make to the intellectual understanding of antitrust laws impact on American business here and abroad, on the European Economic Community (EEC) as it creates a single market by 1992, and on Eastern Europe as it moves to a market economy.

Table of Contents

Preface	p. vii
Acknowledgments	p. xi
the Foundations of Antitrust	p. 1
What Happened to the Antitrust Movement?	p. 20
The Origin of the Sherman Act	p. 32
Legislative Intent and the Policy of the Sherman Act	p. 39
Wealth Transfers as the Original and Primary Concern of Antitrust: the Efficiency Interpretation Challenged	p. 83
The Sherman Act and the Balance of Power	p. 85
The """"Rule of Reason"""" in Antitrust Law: Property Logic in Restraint of Competition	p. 116
Conclusion	p. 136
The Sherman Act and the Classical Theory of Competition	p. 156
Postmodern Antitrust	p. 159
Antitrust Policy: an Economic and Legal Analysis	p. 181
The Chicago School of Antitrust Analysis	p. 193
An Antitrust Enforcement Policy to Maximize the Economic Wealth of All Consumers	p. 210
Legal Reasoning, Antitrust Policy, and the Social """"Science"""" of Economics	p. 227
Antitrust, Law and Economics, and the Courts	p. 238
The Modernization of Antitrust: A New Equilibrium	p. 259
Notes	p. 285
Bibliography	p. 309
Index	p. 323
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