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Author: Marc Allen Eisner Publisher: UNC Press Books ISBN: 1469639777 Category : Political Science Languages : en Pages : 334
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: 1469639777 Category : Political Science Languages : en Pages : 334
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
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: Dominick T. Armentano Publisher: Independent Studies in Politic ISBN: Category : Business & Economics Languages : en Pages : 324
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: Robert Pitofsky Publisher: Oxford University Press ISBN: 0199706751 Category : Law Languages : en Pages : 324
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: Binyamin Appelbaum Publisher: Little, Brown ISBN: 0316512273 Category : Political Science Languages : en Pages : 473
Book Description
In this "lively and entertaining" history of ideas (Liaquat Ahamed, The New Yorker), New York Times editorial writer Binyamin Appelbaum tells the story of the people who sparked four decades of economic revolution. Before the 1960s, American politicians had never paid much attention to economists. But as the post-World War II boom began to sputter, economists gained influence and power. In The Economists' Hour, Binyamin Appelbaum traces the rise of the economists, first in the United States and then around the globe, as their ideas reshaped the modern world, curbing government, unleashing corporations and hastening globalization. Some leading figures are relatively well-known, such as Milton Friedman, the elfin libertarian who had a greater influence on American life than any other economist of his generation, and Arthur Laffer, who sketched a curve on a cocktail napkin that helped to make tax cuts a staple of conservative economic policy. Others stayed out of the limelight, but left a lasting impact on modern life: Walter Oi, a blind economist who dictated to his wife and assistants some of the calculations that persuaded President Nixon to end military conscription; Alfred Kahn, who deregulated air travel and rejoiced in the crowded cabins on commercial flights as the proof of his success; and Thomas Schelling, who put a dollar value on human life. Their fundamental belief? That government should stop trying to manage the economy.Their guiding principle? That markets would deliver steady growth, and ensure that all Americans shared in the benefits. But the Economists' Hour failed to deliver on its promise of broad prosperity. And the single-minded embrace of markets has come at the expense of economic equality, the health of liberal democracy, and future generations. Timely, engaging and expertly researched, The Economists' Hour is a reckoning -- and a call for people to rewrite the rules of the market. A Wall Street Journal Business BestsellerWinner of the Porchlight Business Book Award in Narrative & Biography
Author: John J. Siegfried Publisher: Harvard University Press ISBN: 0674267338 Category : Business & Economics Languages : en Pages : 324
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: Gabriel Kolko Publisher: Simon and Schuster ISBN: 1439118728 Category : Political Science Languages : en Pages : 362
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: Brett Christophers Publisher: Harvard University Press ISBN: 0674504917 Category : Business & Economics Languages : en Pages : 357
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: Gary Hull Publisher: Transaction Publishers ISBN: 9780765802828 Category : Law Languages : en Pages : 196
Book Description
"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 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. 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.
Author: Susan Berfield Publisher: Bloomsbury Publishing USA ISBN: 1635572479 Category : History Languages : en Pages : 417
Book Description
A riveting narrative of Wall Street buccaneering, political intrigue, and two of American history's most colossal characters, struggling for mastery in an era of social upheaval and rampant inequality. It seemed like no force in the world could slow J. P. Morgan's drive to power. In the summer of 1901, the financier was assembling his next mega-deal: Northern Securities, an enterprise that would affirm his dominance in America's most important industry-the railroads. Then, a bullet from an anarchist's gun put an end to the business-friendly presidency of William McKinley. A new chief executive bounded into office: Theodore Roosevelt. He was convinced that as big business got bigger, the government had to check the influence of the wealthiest or the country would inch ever closer to collapse. By March 1902, battle lines were drawn: the government sued Northern Securities for antitrust violations. But as the case ramped up, the coal miners' union went on strike and the anthracite pits that fueled Morgan's trains and heated the homes of Roosevelt's citizens went silent. With millions of dollars on the line, winter bearing down, and revolution in the air, it was a crisis that neither man alone could solve. Richly detailed and propulsively told, The Hour of Fate is the gripping story of a banker and a president thrown together in the crucible of national emergency even as they fought in court. The outcome of the strike and the case would change the course of our history. Today, as the country again asks whether saving democracy means taming capital, the lessons of Roosevelt and Morgan's time are more urgent than ever. Winner of the 2021 Theodore Roosevelt Association Book Prize Finalist for the Presidential Leadership Book Award
Author: Marc Allen Eisner
Author: Marc Allen Eisner
Author: Robert Bork
Author: Dominick T. Armentano
Author: Robert Pitofsky
Author: Binyamin Appelbaum
Author: John J. Siegfried
Author: Gabriel Kolko
Author: Brett Christophers
Author: Gary Hull
Author: Susan Berfield