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.

The widespread move towards more market-driven models of political economy combined with the expanding internationalisation of business and commerce has led to a series of proposals for global competition rules. To date these proposals have been hotly contested. The purpose of this book is to investigate in some depth whether there is a rational foundation for pursuing international competition rules, and what form these laws should take. The book takes examples from existing competition laws around the world, in particular the US and the EU both of which have a long history of enforcing established competition rules.

Key features:- Edited by leading academics and an experienced practitioner - Combines both practical insight and scholarly analysis - A rich compendium of commentary and analysis on all the main themes of competition law - Extensive coverage of both substantive, procedural and enforcement issues in two volumes. Handbook on European Competition Law: Substantive Aspects sets the context for examination of substantive law by reviewing and analyzing the goals of competition law. It then covers the substantive building blocks of EU competition law, including horizontal and vertical agreements, cartels, mergers, and also provides valuable coverage of the interaction between competition and regulation, hub and spoke collusion, and information exchange agreements. The importance of the abuse of dominance doctrine is reflected in three discrete chapters considering exploitative abuses, exclusionary pricing abuses, and exclusionary non-pricing abuses. The companion volume, Handbook on European Competition Law: Enforcement and Procedure, sets out in detail the procedural aspects of EU Competition Law, ranging from fines, remedies and judicial review. It also gives unique insight into both private and public enforcement of completion law, and offers commentary on the relationship between EU competition law and national competition law, and on the relationship between competition law and private international law. This Handbook will be an indispensable reference work for practitioners and scholars, as well as for those in an enforcement environment. Contributors: S. Anderman, A. Coscelli, G. Edwards, G. Faella, M.S. Gal, A. Jones, I. Kokkoris, I. Lianos, L. Lovdahl Gormsen, D. Mantzari, L.D.S. Morais, R. Nazzini, O. Odudu, N. Petit, A. Stephan, J. Tapia, F. Wagner-von Papp

For years, the pendulum between competition law and regulation used to be at full swing between ex ante and ex post intervention. The oscillation now is shorter and the two edges more intertwined. This highly topical edited volume includes contributions at the 8th ASCOLA conference from eminent experts in the field, practitioners and academics. The contributors and the editors have succeeded in producing a coherent, thought-provoking, cutting-edge analysis of an area of law that is continuously changing.' - Ioannis Kokkoris, Queen Mary University London, UKTo what extent should competition agencies act as market regulators? Competition Law as Regulation provides numerous insights from competition scholars on new trends at the interface of competition law and sector-specific regulation. By relying on the experiences of a considerable number of different jurisdictions, and applying a comparative approach to the topic, this book constitutes an important addition to international research on the interface of competition and regulation. It addresses the fundamental issues of the subject, and contributes to legal theory and practice. Topics discussed include foundations of the complex relationship of competition law and regulation, new forms of advocacy powers of competition agencies, competition law enforcement in regulated industries in general, information and telecommunications markets, and competition law as regulation in IP-related markets. Scholars in the two fields of law and economics will find the research aspects of the book to be of interest. Officials in competition and regulatory agencies will benefit from the practical relevance of the book. Contributors: E. Arezzo, A. Ayal, M. Botta, F. Caronna, F. Di Porto, M.S. Gal, T. Indig, K. Kowalik-Banczyk, B. Lundqvist, M. Maggiolino, N. Rangone, M. Siragusa, Y. Svetiev, A. Svetlicinii, T. Takigawa, R.H. Weber

Key features:- Edited by leading academics and an experienced practitioner - Combines both practical insight and scholarly analysis - A rich compendium of commentary and analysis on all the main themes of competition law - Extensive coverage of both substantive, procedural and enforcement issues in two volumes. Handbook on European Competition Law: Enforcement and Procedure sets out in detail the procedural aspects of EU competition law, ranging from fines, remedies and judicial review. It also gives unique insight into both private and public enforcement of completion law, and offers commentary on the relationship between EU competition law and national competition law, and on the relationship between competition law and private international law. The companion volume, Handbook on European Competition Law: Substantive Aspects, sets the context for examination of substantive law by reviewing and analyzing the goals of competition law. It then covers the substantive building blocks of EU competition law, including horizontal and vertical agreements, cartels, mergers, and also provides valuable coverage of the interaction between competition and regulation, hub and spoke collusion, and information exchange agreements. The importance of the abuse of dominance doctrine is reflected in three discrete chapters considering exploitative abuses, exclusionary pricing abuses, and exclusionary non-pricing abuses. This Handbook will be an indispensable reference work for practitioners and scholars, as well as for those in an enforcement environment. Contributors: A. Andreangeli, K. Cseres, C. Genakos, D. Geradin, D.M.B. Gerard, Y. Katsoulacos, A.P. Komninos, N. Levy, I. Lianos, C. Malamataris, B.J. Rodger, H. Schweitzer, D. Ulph, J. Wileur

This book provides the reader with a comprehensive analysis of US Federal Antitrust and EC Competition Law. It is encyclopaedic in coverage: examining every constituent element of the law and landmark decisions from the perspectives of economics and policy goals, explaining their implications for commercial operations and advocating policy reforms where necessary.

This important research review identifies leading articles covering the breadth of comparative competition law. The review addresses the theories behind competition, the issues surrounding the abuse of dominance or monopolization and the vertical restraints of trade, as well as cartels, non-cartels and mergers along with an insight into practice and procedures. Researchers will find the text, and selected articles, to be an invaluable window into scholarly and professional reflection on this diverse subject.

This book presents a conceptual framework for analysing the definitions of State aid and subsidy in EC and WTO law. This is done through a comparative analysis, examining the coherence of the conceptual understanding of the crucial, but still elusive, issue of the definition of subsidy. The first, important finding is that the topic is not only technical but raises more fundamental questions about the objectives of subsidy control in a given legal system and, more radically, about the goals of that system itself. The analysis does not only concentrate on the state of the law but critically looks forward offering suggestions for new interpretations and law reform. The book focuses on the substantive provisions of the EC and WTO relating to what are identified by the author as the core properties of a notion of subsidy, ie a form of public action, the grant of an economic advantage and the ensuing impact on the competitive process. The current regulation in EC and WTO law is analysed, compared and assessed in depth, and tested against a baseline represented by of a notion of subsidy inserted in a subsidy regulation pursuing certain objectives. Drawing on the results of the comparative exercise, the book argues that both systems can learn valuable lessons from each other to achieve a greater coherence and a more efficient regulatory system.

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 Antitrust 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, antitrust prosecutions are based on a horrible moral inversion: that it is acceptable to sacrifi ce 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. Designed for the uninformed but educated layman, The Abolition of Antitrust makes positive arguments in defense of wealth creation, business, and profi t, explains the proper role of government, and offers a rational view of the meaning of contract and economic freedom. AldineTransaction www.transactionpub.com ISBN: 978-1-4128-0502-5 Library of Congress: 2004058124 Printed in the U.S.A. Cover design by Ellen F. Kane "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, policymakers,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 College of Law.

This book provides an introductory but thorough guide to EU competition law, covering the underlying economics, and the key substantive areas of anticompetitive agreements (Article 81), abuses of dominance (Article 82), the application to the most common types of commercial agreement, state aids, state measures limiting competition and mergers. It also examines the procedures under which the relevant competition authorities apply the rules, private enforcement of the rules before the courts, and minimising risk by implementing a compliance programme. The emphasis is practical rather than theoretical: the authors are practitioners in the field of competition law and economics, with many years' individual and collective experience in the area. This will be an essential reference tool for practitioners, academics and students of EU Competition Law.

As market competition replaces state regulation in many economic fields, competition policy has become an area of increasing significance. Against this background, Suzuki highlights the importance of the domestic political structure for competition policy. He does this through the comparative analysis of competition law reforms in Britain and Japan. He argues - controversially - that a country's domestic political structure should be considered a major factor in causing the reform of competition law, and rejects the established view that it is necessarily a result of changes in international economic and political conditions.

eBook available with sample pages: 0203166949

Economic regulation in the telecommunications sector can be performed through economy-wide instruments, such as antitrust law and antitrust authorities, or through sector-specific instruments, such as telecommunications regulation and regulatory authorities. Relying on a comparative analysis of five countries, the present book seeks to shed some light on the respective roles of both types of instruments in liberalized telecommunications markets.

Adam Smith warned of the prevalence of corporate conspiracies more than two hundred years ago. Since then, interest in cartels has sometimes intensified (during the Great Depression, for example) and sometimes diminished, but the need for control has always remained on the antitrust agenda. This well-documented book reviews the economic case against corporate collusion, as well as the arguments made for a more permissive attitude. A survey of recent empirical research reveals not only the prevalence of a wide range of international cartels but also the size of the inefficiencies and costs that they impose on customers and consumers. The antitrust reaction has therefore intensified with greatly increased fines being imposed by the US, the EU and other authorities. At the same time, they have developed sophisticated leniency polices with the aim of destabilizing the illegal conspiracies. After reviewing these measures, the author concludes with the hope that this toughened approach is not modified or reversed during periods of recession. This insightful book will appeal to undergraduates in economics, business and law studying antitrust and law and economics.

A volume that takes stock and looks ahead on the development and implementation of competition policy in the European Union fifty years after the Treaty of Rome. Competition policy has emerged as a key policy in the EU with competition acting as the driving force for economic efficiency and the welfare of citizens. Case law has been established to control and prevent anti-competitve behavior, state aid control has consolidated and evolved towards a more economic approach, and the authority of the EC and the judicial review of the Court of the First Instance (CFI) and the European Court of Justice (ECJ) are firmly etsablished.
The book provides an economic approach to competition policy and reflects the main areas of interest, open issues and progress in the area. The volume examines the design of competition policy institutions, the evolution of the implementation of competition policy and its convergence or divergence with US practice, restrictive practices, cartels, abuse of dominance, merger control and state aids. The volume also analyses the interaction of competition policy and regulation, and studies its application to telecoms, banking and energy sectors. All chapters are written by leadfing specialists combining theoretical with practical knowledge and discussing the underpinings of the application of law.

Competition law belongs to the traditional core of Community internal market law and continues to play an important part in EU law and the case-law of the Court of First Instance and the Court of Justice of the European Communities. Competition law does not form a static and hermetic domain but should, perhaps now more than ever before, be seen in a broader context and as a dynamic area of law. The topics in this book include pure competition law issues, such as who should be held accountable and responsible for competition law infringements, when is a price so high that it becomes abusive, or the object or effect test under Article 82 EC. Moreover, they include competition law issues in a broader context, such as the influence of competition law on free movement rules, the application of competition law to international maritime transport, consumer interests in the application of competition law, unfair competition law and trade marks, confidentiality issues, the interplay between administrative law and competition law, or the principle of fiscal neutrality, not forgetting State aid issues. This book draws together contributions from well-known experts in EU law and competition law in particular, being either current or former members or referendaires at one of the Community Courts. It is a tribute to Judge Virpi Tiili, who, when leaving the Court of First Instance in autumn 2009, will be remembered for her long and outstanding contribution to the Court's case-law, notably in areas such as competition law and intellectual property law.

This book offers a comprehensive introduction to the developmental history and structural framework of Chinese competition law from a law and economics perspective. It examines the philosophical foundations, the substantive law, and enforcement issues concerning competition law and policy in China by pursuing an economic and comparative approach. Further, the book presents and analyzes competition cases involving monopolistic agreements, abuse of dominant position, and concentration. The book will help professionals and business practitioners to understand the distinct features of competition law and policy in China, and how the substance and enforcement of the law can be compared with competition regulations in the US and EU from an economic perspective. Given its scope, it offers a valuable guide for academic, public sector and professional audiences alike, and will appeal to researchers, students and anyone with an interest in economic law and policy in China. The book can also be used as reading material to accompany courses such as China's Competition Law and Policy, Comparative Competition Law, and Market Regulation in China for foreign students studying Chinese law and policy at the undergraduate, graduate and doctoral levels.

Offering a concise and critical comparison of EU competition law and US antitrust law from an economic perspective, this is the ideal textbook for international and interdisciplinary courses combining law and economic approaches. The book provides thorough coverage including the definition of market power, the use of horizontal and vertical restrictions, mergers and the unilateral conduct of dominant firms. It also includes discussion of problems relating to the enforcement of legal prohibitions, which will be of particular interest to practitioners and regulators. With analysis of leading cases of EU competition law, US antitrust law and insightful case studies of competition laws in BRIC countries, this book succinctly highlights the key information and goes further to discuss the many issues relating to the use of economic analysis. Key Features: uses economic insights to help students understand the context in which the rules of competition law are applied systematically compares EU competition law and US antitrust law, with discussion of leading cases, in order to understand how the underlying principles work in practice clear presentation, including boxes highlighting key case studies, ensures information on the competition laws of various BRIC countries is easily accessible the comparative approach and use of international case studies make this an ideal textbook for students in any jurisdiction.

Law, Liberty, and the Competitive Market brings the clash between law and legislation to the attention of economists and political scientists. It fills a void and offers a series of texts that have not previously been translated into English. This anthology connects various articles by Leoni on economics and law with the objective of emphasizing how much Leoni's own theory in the juridical environment was influenced by reflection on authors of the Austrian school--from Carl Menger to Ludwig von Mises, from Friedrich von Hayek to Murray N. Rothbard.The essays dealing with economics help us understand how many of Leoni's positions were libertarian. A careful reader of Mises, Leoni often ends up by assuming positions that are even more anti-state than those of the Austrian economist (concerning monopolies, for example). It is significant that in the 1960s his thought was influenced by Rothbard. The very critiques that he addresses to normativism and to analytical philosophy contain strong ideological elements, as they move from the awareness that legal positivism leads to statism and philosophical relativism to acquiescence in the face of power.Studying the market economy, Leoni perceives opposition between spontaneous order and planning. In this way, he understands how such a contrast is significant for the origins of norms. Leoni's idea of a law able to protect individual liberty has its roots in the market. Thus, the market is at the same time the model he uses to conceive the legal order and an institution fundamental for the service of civilization, which the law is called to protect. This is an important work by a figure only now being recognized as a pioneer in the field of economics and an innovator in political theory.

Private Enforcement of Antitrust Law in the United States is a comprehensive Handbook, providing a detailed, step-by-step examination of the private enforcement process, as illuminated by many of the country's leading practitioners, experts, and scholars. Written primarily from the viewpoint of the complainant, the Handbook goes well beyond a detailed cataloguing of the substantive and procedural considerations associated with individual and class action antitrust lawsuits by private individuals and businesses. It is a collection of thoughtful essays that delves deeply into practical and strategic considerations attending the decision-making of private practitioners. This eminently readable and authoritative Handbook will prove to be an invaluable resource for anyone associated with the antitrust enterprise, including both inexperienced and seasoned practitioners, law professors and students, testifying and consulting economists, and government officials involved in overlapping public/private actions and remedies. Contributors: W.K. Arends, A.C. Briggs, W.J. Bruckner, P.B. Clayton, C.C. Corbitt, E.L. Cramer, M.B. Eisenkraft, A.A. Foer, A.J. Gaughan, P. Gilbert, J. Goldberg, D.E. Gustafson, M.D. Hausfeld, K. Kinsella, R.H. Lande, J. Langenfeld, S. Martin, K.J.L. O'Connor, H.L. Renfro, J.D. Richards, V. Romanenko, J.L. Rubin, M.R. Salzwedel, A.E. Shafroth, D.C. Simons, S.P. Slaughter, R.M. Stutz, B.E. Sweeney, J. Tabacco, M.J. Waters, S. Wheatman, K.C. Wildfang, G.G. Wrobel, J.A. Zahid

Europe is increasingly becoming an everyday reality for many companies, not only for large corporations but small and medium-sized enterprises as well. European Competition offers students an introduction to the field of competition, cooperation and competition policy in the EU. To increase students' understanding of the workings of the Internal Market, most chapters start with case-studies. The book focuses on the subject areas economics and law and is written from both a business and a social/legal perspective. The book consists of the following topics: Competition and Competition Policy (including regulations and distortion of competition) Micro economic theory like prisoner's dilemma Market Dominance and Competition Policy Cooperation; Cartels & Strategic Alliances Legal Aspects of Cooperation Mergers & Acquisitions European Competition Law in an International Perspective EU competition & State Aid European Competition is an essential introductory textbook for students at both undergraduate and graduate levels in a wide range of degree and professional programmes. Including Economics, MBA and Law. It is of particular relevance to students interested in the European context of these disciplines and can be used as a core textbook for courses in European Integration or Business and International Environment in Europe and other parts of the world. This text is complementary to the book European Business Environment.

This authoritative book provides a comprehensive critical overview of the basic IP paradigms, such as patents, trademarks and copyrights. Their intersection with competition law and their impacts on the exercise of social welfare are analysed from an evolutionary perspective.The analyses and proposals presented encompass the features and rationales of a legal field in constant evolution, and relate them to increasingly rapid technological, economic, social and geo-political developments. Gustavo Ghidini highlights the emerging trends that challenge the traditional a??all-exclusionarya?? vision of IP law and its application. The author expertly combines holistic, evolutionary and constitutionally oriented approaches, with the search for a rebalancing of the IP rights holdersa?? positions with citizensa?? and usersa?? rights.This book will appeal to academics, scholars and lawyers specializing in the realm of intellectual property, competition and comparative law.