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Author: Marc Allen Eisner
Publisher: UNC Press Books
ISBN: 1469639777
Category : Political Science
Languages : en
Pages : 334
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Book Description
Some of the chief aims of President Ronald Reagan's economic agenda were to reduce the "regulatory burden," minimize state intervention, and reinvigorate market mechanisms. Toward these ends, his administration limited antitrust enforcement to technical cases of price-fixing, invoking the doctrine of the Chicago school of economics. In Antitrust and the Triumph of Economics, Marc Eisner shows that the so-called "Reagan revolution" was but an extension of well-established trends. He examines organizational and procedural changes in the Antitrust Division of the Department of Jusice and the Federal Trade Commission that predated the 1980 election and forced the subsequent redefinition of policy. During their early years, the Antitrust Division and the FTC gave little attention to economic analysis. In the period following World War II, however, economic analysis assumed an increasingly important role in both agencies, and economists rose in status from being members of support staff to being pivotal decision makers who, in effect, shaped the policies for which elected officials were generally assumed to be responsible. In the 1960s and 1970s, critical shifts in prevailing economic theory within the academic community were transmitted into the agencies. This had a profound effect on how antitrust was conceptualized in the federal government. Thus, when Ronald Reagan became president in 1981, the antitrust agencies were already pursuing a conservative enforcement program. Eisner's study challenges dominant explanations of policy change through a focus on institutional evolution. It has important implications for current debates on the state, professionalization, and the delegation of authority. Originally published in 1991. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
Author: Marc Allen Eisner
Publisher: UNC Press Books
ISBN: 9780807819555
Category : Business & Economics
Languages : en
Pages : 334
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Book Description
Eisner contends that Reagan's economic agenda, reinforced by limited prosecution of antitrust offenses, was an extension of well established trends. During the 1960s and 1970s, critical shifts in economic theory within the academic community were transmitted to the Antitrust Division and the FTC--shifts that were conservative and gave Reagan a background against which to operate. Annotation(c) 2003 Book News, Inc., Portland, OR (booknews.com)
Author: Marc Allen Eisner
Publisher: UNC Press Books
ISBN: 1469639777
Category : Political Science
Languages : en
Pages : 334
Get Book Here
Book Description
Some of the chief aims of President Ronald Reagan's economic agenda were to reduce the "regulatory burden," minimize state intervention, and reinvigorate market mechanisms. Toward these ends, his administration limited antitrust enforcement to technical cases of price-fixing, invoking the doctrine of the Chicago school of economics. In Antitrust and the Triumph of Economics, Marc Eisner shows that the so-called "Reagan revolution" was but an extension of well-established trends. He examines organizational and procedural changes in the Antitrust Division of the Department of Jusice and the Federal Trade Commission that predated the 1980 election and forced the subsequent redefinition of policy. During their early years, the Antitrust Division and the FTC gave little attention to economic analysis. In the period following World War II, however, economic analysis assumed an increasingly important role in both agencies, and economists rose in status from being members of support staff to being pivotal decision makers who, in effect, shaped the policies for which elected officials were generally assumed to be responsible. In the 1960s and 1970s, critical shifts in prevailing economic theory within the academic community were transmitted into the agencies. This had a profound effect on how antitrust was conceptualized in the federal government. Thus, when Ronald Reagan became president in 1981, the antitrust agencies were already pursuing a conservative enforcement program. Eisner's study challenges dominant explanations of policy change through a focus on institutional evolution. It has important implications for current debates on the state, professionalization, and the delegation of authority. Originally published in 1991. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.
Author: Robert Bork
Publisher:
ISBN: 9781736089712
Category :
Languages : en
Pages : 536
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Book Description
The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Author: Robert Pitofsky
Publisher: Oxford University Press
ISBN: 0199888248
Category : Law
Languages : en
Pages : 325
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Book Description
How the Chicago School Overshot the Mark is about the rise and recent fall of American antitrust. It is a collection of 15 essays, almost all expressing a deep concern that conservative economic analysis is leading judges and enforcement officials toward an approach that will ultimately harm consumer welfare. For the past 40 years or so, U.S. antitrust has been dominated intellectually by an unusually conservative style of economic analysis. Its advocates, often referred to as "The Chicago School," argue that the free market (better than any unelected band of regulators) can do a better job of achieving efficiency and encouraging innovation than intrusive regulation. The cutting edge of Chicago School doctrine originated in academia and was popularized in books by brilliant and innovative law professors like Robert Bork and Richard Posner. Oddly, a response to that kind of conservative doctrine may be put together through collections of scores of articles but until now cannot be found in any one book. This collection of essays is designed in part to remedy that situation. The chapters in this book were written by academics, former law enforcers, private sector defense lawyers, Republicans and Democrats, representatives of the left, right and center. Virtually all agree that antitrust enforcement today is better as a result of conservative analysis, but virtually all also agree that there have been examples of extreme interpretations and misinterpretations of conservative economic theory that have led American antitrust in the wrong direction. The problem is not with conservative economic analysis but with those portions of that analysis that have "overshot the mark" producing an enforcement approach that is exceptionally generous to the private sector. If the scores of practices that traditionally have been regarded as anticompetitive are ignored, or not subjected to vigorous enforcement, prices will be higher, quality of products lower, and innovation diminished. In the end consumers will pay.
Author: Dominick T. Armentano
Publisher: Independent Studies in Politic
ISBN:
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
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.
Author: John J. Siegfried
Publisher: Harvard University Press
ISBN: 0674267338
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
Better Living Through Economics consists of twelve case studies that demonstrate how economic research has improved economic and social conditions over the past half century by influencing public policy decisions. Economists were obviously instrumental in revising the consumer price index and in devising auctions for allocating spectrum rights to cell phone providers in the 1990s. But perhaps more surprisingly, economists built the foundation for eliminating the military draft in favor of an all-volunteer army in 1973, for passing the Earned Income Tax Credit in 1975, for deregulating airlines in 1978, for adopting the welfare-to-work reforms during the Clinton administration, and for implementing the Pension Reform Act of 2006 that allowed employers to automatically enroll employees in a 401(k). Other important policy changes resulting from economists’ research include a new approach to monetary policy that resulted in moderated economic fluctuations (at least until 2008!), the reduction of trade impediments that allows countries to better exploit their natural advantages, a revision of antitrust policy to focus on those market characteristics that affect competition, an improved method of placing new physicians in hospital residencies that is more likely to keep married couples in the same city, and the adoption of tradable emissions rights which has improved our environment at minimum cost.
Author: Brett Christophers
Publisher: Harvard University Press
ISBN: 0674504917
Category : Business & Economics
Languages : en
Pages : 357
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Book Description
Brett Christophers shows how laws help capitalism maintain a crucial balance between competition and monopoly. When monopolistic forces dominate, antitrust law discourages the growth of corporations and restores competitiveness. When competition becomes dominant, intellectual property law protects corporate assets and encourages investment.
Author: Gabriel Kolko
Publisher: Simon and Schuster
ISBN: 1439118728
Category : Political Science
Languages : en
Pages : 362
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Book Description
A radically new interpretation of the Progressive Era which argues that business leaders, and not the reformers, inspired the era’s legislation regarding business.
Author: Jonathan B. Baker
Publisher: Harvard University Press
ISBN: 0674975782
Category : Law
Languages : en
Pages : 369
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Book Description
A new and urgently needed guide to making the American economy more competitive at a time when tech giants have amassed vast market power. The U.S. economy is growing less competitive. Large businesses increasingly profit by taking advantage of their customers and suppliers. These firms can also use sophisticated pricing algorithms and customer data to secure substantial and persistent advantages over smaller players. In our new Gilded Age, the likes of Google and Amazon fill the roles of Standard Oil and U.S. Steel. Jonathan Baker shows how business practices harming competition manage to go unchecked. The law has fallen behind technology, but that is not the only problem. Inspired by Robert Bork, Richard Posner, and the “Chicago school,” the Supreme Court has, since the Reagan years, steadily eroded the protections of antitrust. The Antitrust Paradigm demonstrates that Chicago-style reforms intended to unleash competitive enterprise have instead inflated market power, harming the welfare of workers and consumers, squelching innovation, and reducing overall economic growth. Baker identifies the errors in economic arguments for staying the course and advocates for a middle path between laissez-faire and forced deconcentration: the revival of pro-competitive economic regulation, of which antitrust has long been the backbone. Drawing on the latest in empirical and theoretical economics to defend the benefits of antitrust, Baker shows how enforcement and jurisprudence can be updated for the high-tech economy. His prescription is straightforward. The sooner courts and the antitrust enforcement agencies stop listening to the Chicago school and start paying attention to modern economics, the sooner Americans will reap the benefits of competition.
Author: Thomas Philippon
Publisher: Belknap Press
ISBN: 0674237544
Category : Business & Economics
Languages : en
Pages : 361
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Book Description
A Financial Times Book of the Year A ProMarket Book of the Year “Superbly argued and important...Donald Trump is in so many ways a product of the defective capitalism described in The Great Reversal. What the U.S. needs, instead, is another Teddy Roosevelt and his energetic trust-busting. Is that still imaginable? All believers in the virtues of competitive capitalism must hope so.” —Martin Wolf, Financial Times “In one industry after another...a few companies have grown so large that they have the power to keep prices high and wages low. It’s great for those corporations—and bad for almost everyone else.” —David Leonhardt, New York Times “Argues that the United States has much to gain by reforming how domestic markets work but also much to regain—a vitality that has been lost since the Reagan years...His analysis points to one way of making America great again: restoring our free-market competitiveness.” —Arthur Herman, Wall Street Journal Why are cell-phone plans so much more expensive in the United States than in Europe? It seems a simple question, but the search for an answer took one of the world’s leading economists on an unexpected journey through some of the most hotly debated issues in his field. He reached a surprising conclusion: American markets, once a model for the world, are giving up on healthy competition. In the age of Silicon Valley start-ups and millennial millionaires, he hardly expected this. But the data from his cutting-edge research proved undeniable. In this compelling tale of economic detective work, we follow Thomas Philippon as he works out the facts and consequences of industry concentration, shows how lobbying and campaign contributions have defanged antitrust regulators, and considers what all this means. Philippon argues that many key problems of the American economy are due not to the flaws of capitalism or globalization but to the concentration of corporate power. By lobbying against competition, the biggest firms drive profits higher while depressing wages and limiting opportunities for investment, innovation, and growth. For the sake of ordinary Americans, he concludes, government needs to get back to what it once did best: keeping the playing field level for competition. It’s time to make American markets great—and free—again.
