Antitrust and Monopoly

Anatomy of a Policy Failure

Author: Dominick T. Armentano and Yale Brozen Series: Independent Studies in Political Economy

Examines 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.

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The 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.

Critic Reviews

“"Should be on the reading list of every antitrust course. Clearly stated, rigorously developed . . . definitely for professors as well as students." -- Donald Dewey, professor of economics, Columbia University. "Skillfully honed, eloquent . . . Professor Armentano's book must be mastered by all who would be heard on this issue." -- Business History Review. "The single best book-length treatment of this issue . . . should become a, if not the standard in economics, history, and political science." -- Public Choice. "For anyone wanting to know what's behind today's headlines, this is an attractive introduction . . . should be required reading by every Congressman." -- Yale T. Brozen, Professor Emeritus of Economics, Graduate School of Business, University of Chicago.”

"Should be on the reading list of every antitrust course. Clearly stated, rigorously developed ... definitely for professors as well as students." -- Donald Dewey, professor of economics, Columbia University. "Skillfully honed, eloquent ... Professor Armentano's book must be mastered by all who would be heard on this issue." -- Business History Review. "The single best book-length treatment of this issue ... should become a, if not the standard in economics, history, and political science." -- Public Choice. "For anyone wanting to know what's behind today's headlines, this is an attractive introduction ... should be required reading by every Congressman." -- Yale T. Brozen, Professor Emeritus of Economics, Graduate School of Business, University of Chicago.