The Antitrust Enterprise

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Harvard University Press, Jun 30, 2009 - Law - 376 pages

After thirty years, the debate over antitrust's ideology has quieted. Most now agree that the protection of consumer welfare should be the only goal of antitrust laws. Execution, however, is another matter. The rules of antitrust remain unfocused, insufficiently precise, and excessively complex. The problem of poorly designed rules is severe, because in the short run rules weigh much more heavily than principles. At bottom, antitrust is a defensible enterprise only if it can make the microeconomy work better, after accounting for the considerable costs of operating the system.

"The Antitrust Enterprise" is the first authoritative and compact exposition of antitrust law since Robert Bork's classic "The Antitrust Paradox" was published more than thirty years ago. It confronts not only the problems of poorly designed, overly complex, and inconsistent antitrust rules but also the current disarray of antitrust's rule of reason, offering a coherent and workable set of solutions. The result is an antitrust policy that is faithful to the consumer welfare principle but that is also more readily manageable by the federal courts and other antitrust tribunals.

 

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Contents

LIMITS AND POSSIBILITIES
11
The Legal and Economic Structure of the Antitrust Laws
13
The Design of Antitrust Rules
31
The Promises and Hazards of Private Antitrust Enforcement
57
Expert Testimony and the Predicament of Antitrust Fact Finding
77
TRADITIONAL ANTITRUST RULES
93
Unreasonable Exercises of Market Power
95
Combinations of Competitors
125
The National Policy on Business Mergers
207
REGULATION INNOVATION AND CONNECTIVITY
225
Antitrust under Regulation and Deregulation
227
The Conflict between Antitrust and Intellectual Property Rights
249
Network Industries and Computer Platform Monopoly
277
Antitrust Reform
305
Notes
315
Index
361

Dominant Firms and Exclusionary Practices
150
Antitrust and Distribution
181

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About the author (2009)

Herbert Hovenkamp is Ben V. and Dorothy Willie Professor of Law and History, University of Iowa College of Law.

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