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How The Chicago School Overshot The Mark
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Book Synopsis How the Chicago School Overshot the Mark by : Robert Pitofsky
Download or read book How the Chicago School Overshot the Mark written by Robert Pitofsky and published by Oxford University Press. This book was released on 2008-10-14 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis How the Chicago School Overshot the Mark by : Robert Pitofsky
Download or read book How the Chicago School Overshot the Mark written by Robert Pitofsky and published by . This book was released on 2008 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays collected in this book concern the rise and recent fall of American antitrust. Of the 15 essays, almost all express a deep concern that conservative economic analysis is leading judges and enforcement officials toward an approach that will ultimately harm consumer welfare.
Book Synopsis How the Chicago School Overshot the Mark by : Robert Pitofsky
Download or read book How the Chicago School Overshot the Mark written by Robert Pitofsky and published by Oxford University Press. This book was released on 2008 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays collected in this book concern the rise and recent fall of American antitrust. Of the 15 essays, almost all express a deep concern that conservative economic analysis is leading judges and enforcement officials toward an approach that will ultimately harm consumer welfare.
Book Synopsis The Economic Dynamics of Law by : David M. Driesen
Download or read book The Economic Dynamics of Law written by David M. Driesen and published by Cambridge University Press. This book was released on 2012-06-18 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a theory of law and economics focused on change over time and aimed at avoiding systemic risks.
Book Synopsis Refusals to License Intellectual Property by : Ian Eagles
Download or read book Refusals to License Intellectual Property written by Ian Eagles and published by Bloomsbury Publishing. This book was released on 2011-12-15 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic analysis rarely appears on the judicial horizon in intellectual property litigation. In competition cases, by contrast, economists are familiar figures in the courtroom and the language of economics is scattered throughout the judgments of even the highest courts. One might expect, therefore, that refusals to license intellectual property would generate the same fruitful symbiosis between law and economics when those refusals surface in competition proceedings. This however, has not been how the law on this subject has developed in most jurisdictions. Courts and enforcement agencies faced with a unilateral refusal to license have instead tended to retreat into sketchily articulated black letter rules and presumptions which then have to be fenced off from the rest of competition law by economically irrelevant qualifications and distinctions based on private law categorisations of, and rationales for, individual intellectual property rights. This bypassing of case-by-case analysis in favour of more traditional modes of legal reasoning is not entirely the fault of lawyers. Economists have contributed to this state of affairs by urging judges and regulators to convert empirically undernourished theories about the proper role of intellectual property in a market economy into rules of law and evidentiary presumptions intended to be binding in future cases. How this came about and what it means for the future of effective competition enforcement globally are the twin concerns of this book.
Book Synopsis The Antitrust Paradox by : Robert Bork
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Public Procurement and the EU Competition Rules by : Albert Sánchez Graells
Download or read book Public Procurement and the EU Competition Rules written by Albert Sánchez Graells and published by Bloomsbury Publishing. This book was released on 2011-01-29 with total page 480 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shortlisted for the 2012 Prix Vogel in Economic Law. Public procurement and competition law are both important fields of EU law and policy, intimately intertwined in the creation of the internal market. Hitherto their close connection has been noted, but not closely examined. This new work is the most comprehensive attempt to date to explain the many ways in which these fields, often considered independent of one another, interact and overlap in the creation of the internal market. In this process of convergence between competition and public procurement law , the need for this joint study is clearly apparent. As such the book asks whether competition law principles inform or condition public procurement rules, and whether they are adequate to ensure that competition is not distorted in markets where public procurement is particularly significant. The book moves away from the classical focus of public procurement on the activities of private actors, developing instead an analytical framework for the appraisal of the market behaviour of the public buyer from a competition perspective. The analysis is both legal and economic. Proceeding through a careful assessment of the general rules of competition and public procurement, the book constantly tests the efficacy of the rules in competition and public procurement against a standard of the proper functioning of undistorted competition in the market for public procurement.
Book Synopsis Research in the History of Economic Thought and Methodology by : Ross B. Emmett
Download or read book Research in the History of Economic Thought and Methodology written by Ross B. Emmett and published by Emerald Group Publishing. This book was released on 2010-06-14 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: Includes the articles that highlight research on the role of western economic advisors in China before the Communist Revolution, minimum wage legislation, a symposium on Clement Juglar, and a comparison of the work in the history of economics and the history of science.
Book Synopsis Competition Policy and the Economic Approach by : Josef Drexl
Download or read book Competition Policy and the Economic Approach written by Josef Drexl and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This outstanding collection of original essays brings together some of the leading experts in competition economics, policy and law. They examine what lies at the core of the .economic approach to competition law' and deal with its normative and institutional limitations. In recent years the more .economic approach' has led to a modernisation of competition law throughout the world. This book comprehensivelyexamines for the first time, the foundations and limitations of the approach and will be of great interest to scholars of competition policy no matter what discipline. Competition Policy and the Economic Approach will appeal to academics in competition economics and law, policy-makers and practitioners in the field of antitrust/competition law as well as postgraduate students in competition law and economics. Those interested in the interplay of law and economicsin the field of competition will also find this book invaluable.
Book Synopsis Competition in the Media and Entertainment Distribution Market by : United States. Congress. House. Committee on the Judiciary
Download or read book Competition in the Media and Entertainment Distribution Market written by United States. Congress. House. Committee on the Judiciary and published by . This book was released on 2010 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Amazon written by Paul Smith and published by Rowman & Littlefield. This book was released on 2022-11-28 with total page 367 pages. Available in PDF, EPUB and Kindle. Book excerpt: Amazon is everywhere. In our mailboxes, in delivery vans clogging our streets, in an increasing portion of our air traffic, in our grocery stores, on our televisions, in our smart home devices, and in the infrastructure powering many of the websites we visit. Amazon’s tendrils touch the majority of online retail transactions in the United States and in many other countries. As Amazon changes the face of capitalist business, it is also changing global culture in multiple ways. This book brings together some of the most important analyses of Amazon’s pioneering business practices and how they intersect with and affect the components of everyday culture. Its contributors examine the political economy of Amazon’s platform, making the argument that it operates as an unregulated monopoly that is disruptive to the global economy and that its infrastructure and logistical operations increasingly alienate its workers and wreak many other social harms. Our contributors outline the practices of resistance that have been employed by organizers ranging from Amazon employees to artists to digital piecemeal laborers working on Amazon’s Mechanical Turk platform. They examine the broader cultural impact that Amazon has had, looking at things like Amazon Prime and the creation of unending consumption, the absorption of Whole Foods and its brand of ‘conscious capitalism,’ and the impact of Amazon Studios and Prime Video on everyday film and television viewing practices. This book examines the broader environmental impacts that Amazon is having on the world, looking at the slow violence it incurs, its underwhelming Climate Pledge, and the regional impacts that its business practices have. Lastly, this book gathers together some important artistic responses to Amazon for the first time in an appendix that offers readers insight into other ways in which critics of the company are making their voices heard and attempting to move broader audiences into solidarity against Amazon.
Book Synopsis Misuse of Market Power by : Katharine Kemp
Download or read book Misuse of Market Power written by Katharine Kemp and published by Cambridge University Press. This book was released on 2018-06-28 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Compares Australia's new misuse of market power law with US and EU tests for monopolization and abuse of dominance.
Book Synopsis Competition, Effects and Predictability by : Bruce Wardhaugh
Download or read book Competition, Effects and Predictability written by Bruce Wardhaugh and published by Bloomsbury Publishing. This book was released on 2020-04-16 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the US and EU, legal analysis in competition cases is conducted on a case-by-case approach. This approach assesses each particular practice for both its legality and its welfare effects. While this analytic method has the merits of 'getting the result right' by, inter alia, reducing error costs in antitrust adjudication, it comes at a cost of certainty, predictability and clarity in the legal principles which govern antitrust law. This is a rule of law concern. This is the first book to explore this tension between Europe's 'More Economic Approach', the US's Rule of Reason, and the Rule of Law. The tension manifests itself in the assumptions in and choice of analytic method; the institutional agents driving this effects based approach and their competency to use and assess the results of the methodology they demand; and, the nature and stability of the legal principles used in modern effects-based competition analysis. The book forcefully argues that this approach to competition law represents a threat to the rule of law. Competition, Effects and Predictability will be of interest to European and American competition law scholars and practitioners, legal historians, policy makers and members of the judiciary.
Book Synopsis Economic Efficiency by : Ben Van Rompuy
Download or read book Economic Efficiency written by Ben Van Rompuy and published by Kluwer Law International B.V.. This book was released on 2012-08-01 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decade, we have witnessed an apparent convergence of views among competition agency officials in the European Union and the United States on the appropriate goals of competition law enforcement. Antitrust policy, it is now suggested, should focus on enhancing economic efficiency, which we are to believe will promote consumer welfare. Recent EU Commission Guidelines on the application of Article 101 TFEU appear to banish considerations that cannot be construed as having an economic efficiency value – such as the environment, cultural policy, employment, public health, and consumer protection – from the application of Article 101 TFEU. Arguing that the professed adoption of an exclusive efficiency approach to Article 101 TFEU does not preclude, but rather obfuscates the role of non-efficiency considerations, the author of this timely contribution accomplishes the following objectives: traces the genesis of the shift to an efficiency orientation in EU and US antitrust policy and dispels several ingrained misconceptions that underpin it; demonstrates the close interrelationship between evolving images of the purpose of antitrust, the development of related enforcement norms, and enforcement output; provides in-depth analyses of a number of analytically rich cases in the audiovisual sector (and particularly those related to sports rights); and explores what the role of non-efficiency considerations in the application of Article 101 TFEU could and should be under the modernized enforcement regime.
Book Synopsis A Research Annual by : Jeff E. Biddle
Download or read book A Research Annual written by Jeff E. Biddle and published by Emerald Group Publishing. This book was released on 2013-11-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research in the History of Economic Thought and Methodology is an annual series which presents research materials in the fields of the history of economic thought and the methodology of economics.
Download or read book Fairness in Antitrust written by Adi Ayal and published by Bloomsbury Publishing. This book was released on 2014-12-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: What drives popular support for state-enforced competition policy? What is it about antitrust law that garners approval from both the public and courts, to the point of demonizing large firms convicted of antitrust offenses? In this book Adi Ayal argues that the populist roots of antitrust are still with us, guiding sentiment towards a legal regime that has otherwise shifted towards economic analysis. Antitrust is very much about fairness and morality; this book assesses how modern policy has hijacked popular support - based on traditional conceptions of political and economic power - to combat market power in narrowly defined micro-markets. Beginning with history, but delving into moral and political philosophy, Professor Ayal shows how arguments concerning fairness in antitrust apply both to monopolists and their victims. Fairness thus requires a balancing test based on context and respecting the rights of all parties involved. While traditionally fairness arguments were used to justify intervention where economic analysis did not, this book assesses them from first principles, to show that pure efficiency analysis is flawed from a moral standpoint when the state intervenes. Protecting weak consumers from strong monopolists may carry rhetorical weight, but the reality of antitrust is that the state is much more powerful than almost all firms it regulates. Protecting the strong from the weak, especially when 'weak' consumers hold legal power and influence, might very well be a moral imperative. This book offers a philosophical account of the conundrum facing competition policy which challenges widely-held yet often implicit and unfounded beliefs.
Book Synopsis Research Handbook on Methods and Models of Competition Law by : Deborah Healey
Download or read book Research Handbook on Methods and Models of Competition Law written by Deborah Healey and published by Edward Elgar Publishing. This book was released on 2020-11-27 with total page 576 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Handbook illuminates the objectives and economics behind competition law. It takes a global comparative approach to explore competition law and policy in a range of jurisdictions with differing political economies, legal systems and stages of development. A set of expert international contributors examine the operation and enforcement of competition law around the world in order to globalize discussions surrounding the foundational issues of this topic. In doing so, they not only reveal the range of approaches to competition law, but also identify certain basic economic concepts and types of anticompetitive conduct that are at the core of competition law.
