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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.
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 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.
Jean-Baptiste Say (1767-1832) has been described as a
revolutionary, an author of scholarly books and popular tracts, a
social philosopher, a successful entrepreneur-a remarkable
Renaissance man. He is best known as author of the law of markets,
known as Say's law, and as the first to coin the term
"entrepreneur." Say's concern with the average interested citizen
and his zeal for economic education for the masses is most apparent
in his classic work, A Treatise on Political Economy.
Readers will see that Say is without doubt a luminary of classical
economics. He single-handedly revived the study of political
economy from its decline and kept it alive during a difficult
period of opposition to liberal ideas. Say had a missionary belief
that society will be best served if the principles of political
economy are widely disseminated and understood by the citizenry.
His organization of the Treatise's subject matter-production,
distribution, and consumption of wealth-continues to guide authors
of economic textbooks to this day. His treatment of the role of the
entrepreneur as a contributor to production different from that of
either the manager or the capitalist was the most advanced of his
times.
In their new introduction, Quddus and Rashid note that present-day
readers of this volume will benefit from the remarkable freshness
of Say's ideas. The longevity of this volume proves that good ideas
can successfully withstand the test of time. The role played by the
Treatise in spreading liberal economic ideas and especially
laissez-faire and free trade in France, the rest of Europe, and in
the newly independent United States must also be appreciated. One
suspects Say would have liked nothing better than to have his
Treatise attract entrepreneurs, managers, and other non-specialist
readers to economics. Given the emphasis on capitalism, free
markets and unrestricted global trade republication of this great
classic could not be more timely. Political economists, social
philosophers, and those in business fields will find it
indispensable reading.
Jean-Baptiste Say (1767-1832) taught at the Conservatoire des Arts
and Mtiers and Collge de France. He is the author of Trait
d'conomie politique, Lettres Malthus, and Cours complet d'conomie
politique pratique. Munir Quddus is professor of economics and
chair of the department of economics and finance at the University
of Southern Indiana. Salim Rashid is professor of economics at the
university of Illinois, Urbana-Champaign.
Jean-Baptiste Say (1767-1832) has been described as a
revolutionary, an author of scholarly books and popular tracts, a
social philosopher, a successful entrepreneur-a remarkable
Renaissance man. He is best known as author of the law of markets,
known as Say's law, and as the first to coin the term
"entrepreneur." Say's concern with the average interested citizen
and his zeal for economic education for the masses is most apparent
in his classic work, A Treatise on Political Economy. Readers will
see that Say is without doubt a luminary of classical economics. He
single-handedly revived the study of political economy from its
decline and kept it alive during a difficult period of opposition
to liberal ideas. Say had a missionary belief that society will be
best served if the principles of political economy are widely
disseminated and understood by the citizenry. His organization of
the Treatise's subject matter-production, distribution, and
consumption of wealth-continues to guide authors of economic
textbooks to this day. His treatment of the role of the
entrepreneur as a contributor to production different from that of
either the manager or the capitalist was the most advanced of his
times. In their new introduction, Quddus and Rashid note that
present-day readers of this volume will benefit from the remarkable
freshness of Say's ideas. The longevity of this volume proves that
good ideas can successfully withstand the test of time. The role
played by the Treatise in spreading liberal economic ideas and
especially laissez-faire and free trade in France, the rest of
Europe, and in the newly independent United States must also be
appreciated. One suspects Say would have liked nothing better than
to have his Treatise attract entrepreneurs, managers, and other
non-specialist readers to economics. Given the emphasis on
capitalism, free markets and unrestricted global trade
republication of this great classic could not be more timely.
Political economists, social philosophers, and those in business
fields will find it indispensable reading.
The Fountainhead, which became one of the most influential and widely read philosophical novels of the twentieth century, made Ayn Rand famous. An impassioned proponent of reason, rational self-interest, individualism, and laissez-faire capitalism, she expressed her unique views in numerous works of fiction and non-fiction that have been brought together for the first time in this one-of-a-kind volume. Containing excerpts from all her novels--including Atlas Shrugged, Anthem, and We The Living--The Ayn Rand Reader is a perfect introduction for those who have never read Rand, and provides teachers with an excellent guide to the basics of her viewpoint.
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