Antitrust and MonopolyThe stated purpose of antitrust laws is to protect competition and the public interest. But do such laws actually restrict the competitive process, harming consumers and serving the special interests of a few politically-connected competitors? Is antitrust law a necessary defense against the predatory business practices of wealthy, entrenched corporations that dominate a market? Or does antitrust law actually work to restrain and restrict the competitive process, injuring the public it is supposed to protect? This breakthrough study examines the classic cases in antitrust law and demonstrates a surprising gap between the stated aims of antitrust law and what it actually accomplishes in the real world. Instead of protecting competition, this book asserts, antitrust law actually protects certain politically-favoured competitors. This is an essential work for anyone wishing to understand the limitations and problems of contemporary antitrust actions. |
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Page 57
... Refiners . By 1865 the development of the petroleum refin- ing industry was well underway . The first region to develop refiners was the crude oil production region itself , and there were at least thirty independent refiners there.29 ...
... Refiners . By 1865 the development of the petroleum refin- ing industry was well underway . The first region to develop refiners was the crude oil production region itself , and there were at least thirty independent refiners there.29 ...
Page 58
... refiners had decreased to between 80 and 100.33 During this chaotic period , Rockefeller had tried unsuccessful collusion with other refiners and railroads ( the South Improvement Com- pany ) , and had fought numerous battles with ...
... refiners had decreased to between 80 and 100.33 During this chaotic period , Rockefeller had tried unsuccessful collusion with other refiners and railroads ( the South Improvement Com- pany ) , and had fought numerous battles with ...
Page 79
... Refiners Association of America , industry repre- sentatives testified before various congressional committees that the very sur- vival of the independent refiner and marketer depended mightily upon con- tinued " government action to ...
... Refiners Association of America , industry repre- sentatives testified before various congressional committees that the very sur- vival of the independent refiner and marketer depended mightily upon con- tinued " government action to ...
Contents
INTRODUCTION | 1 |
COMPETITION THEORY AND | 13 |
MONOPOLY UNDER THE SHERMAN ACT | 49 |
Copyright | |
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advertising Alcoa alleged allocation aluminum American Tobacco antitrust laws antitrust policy argued bleach industry Borden brand buyers Caffey cents charge Chicago Clayton Act Clorox collusion commerce compete competitive process competitors concentration concerning conglomerate conglomerate mergers conspiracy consumers contracts corporations Court decision criticism crude discounts District Court economic economists effect efficient electrical emphasis added entry existing fact Federal Trade Commission firms free market Harold Demsetz Ibid illegal increase independent ingot Judge Justice leased machines manufacturers market power market share merger misallocation monopoly power Morton Salt neoclassical output percent perfectly competitive perspective petroleum potential prefabricated homes price discrimination price-fixing Procter product differentiation profits purchase railroad rates reason reduce refiners regulation restrain restrict retail Robinson-Patman Act salt sellers selling Sherman Act Shoe Machinery social sold Standard Oil substantial Supreme Court theory tion tying agreements U. S. Steel United Shoe violated welfare York