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Full-Text Articles in Law
Accommodating Competition: Harmonizing National Economic Commitments, Jonathan Baker
Accommodating Competition: Harmonizing National Economic Commitments, Jonathan Baker
Articles in Law Reviews & Other Academic Journals
This article shows how the norm supporting governmental action to protect and foster competitive markets was harmonized with economic rights to contract and property during the 19th century, and with the development of the social safety net during the 20th century. It explains why the Constitution, as understood today, does not check the erosion of the entrenched but threatened national commitment to assuring competitive markets.
Non-Parties: The Negative Externalities Of Regional Trade Agreements In A Private Law Perspective, Daniela Caruso
Non-Parties: The Negative Externalities Of Regional Trade Agreements In A Private Law Perspective, Daniela Caruso
Faculty Scholarship
In private law theory and in international trade law alike, a new strand of scholarship has emerged in recent years. This strand is characterized by a focus on market actors who are excluded from deals struck by other parties and suffer economic hardship as a result. Scholars have also focused on doctrines and legal concepts apt to identify this type of hardship and to provide non-parties with justiciable claims and remedies. Private-law and trade-law scholars involved in this mode of research are often moved by justice concerns and by the realization that rules based solely on the enforcement of bilateral …
The Law Of Vertical Integration And The Business Firm: 1880-1960, Herbert J. Hovenkamp
The Law Of Vertical Integration And The Business Firm: 1880-1960, Herbert J. Hovenkamp
All Faculty Scholarship
Vertical integration occurs when a firm does something for itself that it could otherwise procure on the market. For example, a manufacturer that opens its own stores is said to be vertically integrated into distribution. One irony of history is that both classical political economy and neoclassicism saw vertical integration and vertical contractual arrangements as much less threatening to competition than cartels or other horizontal arrangements. Nevertheless, vertical integration has produced by far the greater amount of legislation at both federal and state levels and has motivated many more political action groups. Two things explain this phenomenon. First, while economists …
The Neal Report And The Crisis In Antitrust, Herbert J. Hovenkamp
The Neal Report And The Crisis In Antitrust, Herbert J. Hovenkamp
All Faculty Scholarship
The Neal Report, which was commissioned by Lyndon Johnson and published in 1967, is rightfully criticized for representing the past rather than the future of antitrust. Its authors completely embraced a theory of competition and industrial organization that had dominated American economic thinking for forty years, but was just in the process of coming to an end. The structure-conduct-performance (S-C-P) paradigm that the Neal Report embodied had in fact been one of the most elegant and most tested theories of industrial organization. The theory represented the high point of structuralism in industrial organization economics, resting on the proposition that certain …
Antitrust In The Formative Era: Political And Economic Theory In Constitutional And Antitrust Analysis, 1880-1918, James May
Articles in Law Reviews & Other Academic Journals
No abstract provided.
The Antitrust Movement And The Rise Of Industrial Organization, Herbert J. Hovenkamp
The Antitrust Movement And The Rise Of Industrial Organization, Herbert J. Hovenkamp
All Faculty Scholarship
The modern science of industrial organization grew out of a debate among lawyers and economists in the waning years of the nineteenth century. For Americans, the emergent business "trust" provoked a dialogue about how the law should respond. Many of the formal theories of industrial organization, such as the ruinous competition doctrine, the potential competition doctrine, and the post-classical concern about vertical integration, were actually borrowed from the law.
Anglo-American and European economists disputed the proper domain of theory and description in economic analysis. The British approach was exemplified Alfred and Mary Paley Marshall's Economics of Industry, published in …
Antitrust Practice And Procedure In The Formative Era: The Constitutional And Conceptual Reach Of State Antitrust Law, 1880-1918, James May
Articles in Law Reviews & Other Academic Journals
No abstract provided.