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Antitrust Consent Decrees in Theory and Practice - Why Less is More (Paperback, New)
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Discovery Miles 3 720
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Antitrust Consent Decrees in Theory and Practice - Why Less is More (Paperback, New)
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List price R497
Loot Price R372
Discovery Miles 3 720
You Save R125 (25%)
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For over one hundred years, the antitrust consent decree has been a
major weapon in the federal enforcement of antitrust laws. In
Antitrust Consent Decrees in Theory and Practice, Richard A.
Epstein undertakes the first systematic study of their use and
effectiveness from both a historical and analytical perspective.
Epstein observes how differences in antitrust philosophy can shape
the kinds of comprehensive settlements that the government will
seek and the courts will grant. Epstein takes issue with aggressive
antitrust enforcement strategies that seek to use government power
to fundamentally alter industry structures or the business
practices of regulated firms, in some instances leading to their
breakup. To explain the perils of that approach, Epstein carefully
examines the history of consent decree litigation, culminating in
detailed studies of the AT&T breakup and the government
antitrust actions against Microsoft. Applying modern theories of
antitrust analysis, Epstein's central thesis is that bold antitrust
remedies that are not tightly tied to a defensible theory of
wrongful conduct often prove counterproductive. Such measures
typically force firms to adopt business practices and structural
reorganizations that substantially impede their ability to compete
effectively in the marketplace. The disparate fates of AT&T and
Microsoft are the result of a major and fruitful shift in thinking
about the use and limits on the antitrust laws in a wide variety of
industrial contexts. Antitrust Consent Decrees in Theory and
Practice will be of interest to any reader who is concerned with
the larger implications of the government regulation of law and
business. Epstein brings nearly forty years of personal knowledge
and experience to this matter. Written in a clear and nontechnical
style, this book should prove an invaluable resource to any student
of regulation and economic policy, as well as lawyers and
policymakers concerned with antitrust litigation.
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