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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 defence 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? In this breakthrough study, professor Armentano thoroughly researches 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, professor Armentano finds, 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.
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Dominick T. Armentano is Professor Emeritus of Economics at the University of Hartford.Review:
"For anyone wanting to know what’s behind today’s headlines . . . should be required reading by every Congressman." -- Yale T. Brozen, Professor Emeritus of Economics, Graduate School of Business, University of Chicago
"Should be on the reading list of every antitrust course. Clearly stated, rigorously developed . . . for professors as well as students." -- Donald Dewey, professor of economics, Columbia University
"Skillfully honed, eloquent . . . Professor Armentano’s book must be mastered by all who would be heard on this issue." -- Business History Review
"The . . . best book-length treatment of this issue . . . should become a, if not the standard in economics, history, and political science." -- Public Choice
"Written in a very clear, concise, and declarative manner, which makes it accessible to students as well as interested professionals." -- Antitrust Bulletin
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Book Description Condition: New. New. Seller Inventory # S-0471099317