The Abolition of Antitrust

Nathan Edmonson, Gary Hull

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English

Transaction Publishers
30 April 2005

Business competition; Competition law & Antitrust law

"The Abolition of Antitrust asserts that antitrust laws - on economic, legal, and moral grounds - are bad, and provides convincing evidence supporting arguments for their total abolition. Every year, new antitrust prosecutions arise in the U.S. courts, as in the cases against 3M and Visa/MasterCard, as well as a number of ongoing antitrust cases, such as those involving Microsoft and college football's use of the Bowl Championship Series (BCS). Gary Hull and the contributing authors show that these cases - as well as the Sherman Anti-Trust Act itself - are based on an erroneous interpretation of the history of American business, premised on bad economics. They equivocate between economic and political power - the power to produce versus the power to use physical force. For Hull, anti-trust prosecutions are based on a horrible moral inversion: that it is acceptable to sacrifice America's best producers. The contributors explain how key antitrust ideas, for instance, ""monopoly,"" ""restraint of trade,"" and ""anticompetitive behavior,"" have been used to justify prosecution, and then make clear why those ideas are false. They sketch the historical, legal, economic, and moral reasoning that gave rise to the passage and growth of antitrust legislation. All of the theoretical points in this volume are woven around a number of fascinating cases, both historical and current - including the Charles River Bridge, Alcoa, General Electric, and Kellogg/General Mills. This is a dynamic and accessible work that is not simply a polemical argument for a particular policy position. Designed for the uninformed but educated layman, The Abolition of Antitrust also makes positive arguments in defense of wealth creation, business, and profit, explains the proper role of government, and offers a rational view of the meaning of contract and economic freedom."

By: Nathan Edmonson, Gary Hull
Imprint: Transaction Publishers
Country of Publication: United Kingdom
Dimensions: Height: 229mm, Width: 152mm, Spine: 19mm
Weight: 476g
ISBN: 9780765802828
ISBN 10: 0765802821
Pages: 176
Publication Date: 30 April 2005
Audience: General/trade , ELT Advanced
Format: Hardback
Publisher's Status: Active

"Acknowledgments Introduction Part One: The Economics of Antitrust 1. Barriers to Entry Dominick T. Armentano 2. The Philosophic Origins of Antitrust John Ridpath 3. The False Profi ts of Antitrust Richard M. Salsman Part Two: The Legal History of Antitrust 4. Reversing Course: American Attitudes about Monopolies, 1607-1890 Eric Daniels 5. Antitrust: The War Against Contract Thomas A. Bowden Part Three: The Morality of Antitrust 6. Antitrust: ""Free Competition"" at Gunpoint Harry Binswanger 7. Antitrust is Immoral Gary Hull Appendix: Major Antitrust Legislation Notes on Contributors Index"

Gary Hull is director of the Program on Values and Ethics in the Marketplace (VEM) at Duke University, and has taught philosophy and business ethics at the Fuqua School of Business, Whittier College, and the Claremont Graduate School. He is coeditor of The Ayn Rand Reader.

Reviews for The Abolition of Antitrust

-The essays in this book present a sustained economic, historical, moral, and legal broadside against the various federal statutes known as antitrust doctrine. They explode the cherished myths underlying the antitrust laws, and expose their intellectual fountainhead in a morality of self-sacrifice that is incompatible with individual rights, free enterprise, and objective law. With the publication of this text, businessmen, lawyers, economists, policy makers, legislators, and judges finally have access to a systemic critique of the antitrust laws. From here on, if antitrust continues to violate the rights of businessmen and to ravage the American economy, it is not for lack of knowing how and why.- --Adam Mossoff, Assistant Professor of Law, Michigan State University