After thirty years, the debate over antitrust's ideology has
quieted. Most now agree that the protection of consumer welfare
should be the only goal of antitrust laws. Execution, however, is
another matter. The rules of antitrust remain unfocused,
insufficiently precise, and excessively complex. The problem of
poorly designed rules is severe, because in the short run rules
weigh much more heavily than principles. At bottom, antitrust is a
defensible enterprise only if it can make the microeconomy work
better, after accounting for the considerable costs of operating
the system.
"The Antitrust Enterprise" is the first authoritative and
compact exposition of antitrust law since Robert Bork's classic
"The Antitrust Paradox" was published more than thirty years ago.
It confronts not only the problems of poorly designed, overly
complex, and inconsistent antitrust rules but also the current
disarray of antitrust's rule of reason, offering a coherent and
workable set of solutions. The result is an antitrust policy that
is faithful to the consumer welfare principle but that is also more
readily manageable by the federal courts and other antitrust
tribunals.
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