A Critical Evaluation of the Chicago School of Antitrust Analysis

A Critical Evaluation of the Chicago School of Antitrust Analysis

Author: I. Schmidt

Publisher: Springer Science & Business Media

ISBN: 9789400925670

Category: Business & Economics

Page: 132

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The publication of this clinically analytical and trenchantly insightful volume is felicitously timed. By fortuitous coincidence, it comes at a time when the Chicago School enjoys a high-water mark of acceptance in U.S. legal circles, and at a time when the U.S. merger movement of the 1980s is cresting. It provides a welcome warning against the dangers of translating abstract theories, based on highly restrictive (and unrealistic) assumptions, into facile public policy recommendations. As such the Schmidt/Rittaler study serves as a needed antidote to the currently fashionable predilection to confuse ideology with science. In the Chicago lexicon, the only appropriate policy toward business is a policy of untrammeled laissez-faire. Because there are no market imperfec tions (other than government-created or trade-union-generated monopolies), the market can be trusted to regulate economic activity, inexorably meting out appropriate rewards and punishments. In this ideal world, corporate size and power can be safely ignored. After all, corporations become big only only because they are efficient, only because they are productive, only because they have served consumers better than their rivals, and only because no newcomers are good enough to challenge their dominance. Once an industrial giant becomes lethargic and no longer bestows its productive beneficence on society, it will inevitably wither and eventually die. This is the "natural law" that governs economic life. It demands obedience to its rules. It tolerates no interference by the state.
A Critical Evaluation of the Chicago School of Antitrust Analysis
Language: en
Pages: 132
Authors: I. Schmidt, J.B. Rittaler
Categories: Business & Economics
Type: BOOK - Published: 2012-12-06 - Publisher: Springer Science & Business Media

The publication of this clinically analytical and trenchantly insightful volume is felicitously timed. By fortuitous coincidence, it comes at a time when the Chicago School enjoys a high-water mark of acceptance in U.S. legal circles, and at a time when the U.S. merger movement of the 1980s is cresting. It
Law and Economics of Article 102 TFEU
Language: en
Pages: 1368
Authors: Robert O'Donoghue QC, Jorge Padilla
Categories: Law
Type: BOOK - Published: 2020-09-03 - Publisher: Bloomsbury Publishing

“a reference book in this area of EU competition law and a must-have companion for academics, enforcers and practitioners alike, as well as EU and national judges.” Judge Nils Wahl, Court of Justice of the European Union This seminal text offers an authoritative and integrated treatment of the legal and
The Law and Economics of Article 102 TFEU
Language: en
Pages: 1078
Authors: Robert O'Donoghue QC, Jorge Padilla
Categories: Law
Type: BOOK - Published: 2014-07-18 - Publisher: A&C Black

The Law and Economics of Article 102 TFEU is a comprehensive, integrated treatment of the legal and economic principles that underpin the application of Article 102 TFEU to the behaviour of dominant firms. Traditional concerns of monopoly behaviour, such as predatory pricing, refusals to deal, excessive pricing, tying and bundling,
Competition Laws, Globalization and Legal Pluralism
Language: en
Pages: 242
Authors: Qianlan Wu
Categories: Law
Type: BOOK - Published: 2014-07-18 - Publisher: A&C Black

Building upon a theoretical framework and empirical research, this book provides a thought-provoking analysis of the interests, strategies and challenges that China has faced in developing its Anti-Monopoly Law (AML) in the context of economic globalization. The book comprises three main parts: Part I reviews the directions of convergence of
Bibliography of Law and Economics
Language: en
Pages: 667
Authors: B. Bouckaert, G. de Geest
Categories: Law
Type: BOOK - Published: 2013-04-18 - Publisher: Springer Science & Business Media

Law and economics can be considered as the most exciting development in legal scholarship in recent decades. This volume is the first all-encompassing bibliography in this area. It lists approximately 7000 publications, covering the whole area of law and economics, including `old' law and economics (topics such as antitrust law,