The antitrust paradigm: restoring a competitive economy
In the 1970s, when the United States economy was struggling and the term "stagflation" was coined to capture inflation plus stagnant business growth, the "Chicago school" critique of antitrust rules gained ascendance. In the 1980s, during Ronald Reagan's two terms as preside...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Massachusetts
Harvard University Press
2019
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| Schlagworte: | |
| Zusammenfassung: | In the 1970s, when the United States economy was struggling and the term "stagflation" was coined to capture inflation plus stagnant business growth, the "Chicago school" critique of antitrust rules gained ascendance. In the 1980s, during Ronald Reagan's two terms as president, that critique's policy prescriptions-the eliminating of or modifying anticompetitive rules to make them less restrictive-became common practice. As Jonathan Baker writes, "The Chicago approach to antitrust can be understood as a gamble. More relaxed antitrust rules would allow firms to achieve greater efficiencies, which would more than compensate for any risk of firms exercising market power. Put differently, the Chicagoans bet that antitrust reform could achieve long term consumer welfare gains without facilitating the creation of substantial and durable market power." The Antitrust Paradigm presents a wealth of evidence arguing that the Chicagoans lost their bet, and prescribes what should be done about it. Since the 1980s, not only has market power widened, economic productivity decline, and consumer welfare gains been modest at best, but also the economy has changed, most visibly in the information technology and Internet giants that top the financial market's valuation charts. Baker argues that both the failures of antitrust reform and the changed economy demand a new antitrust paradigm, one that restores a competitive economy through strengthened antitrust, recognizes antitrust's political context, and identifies the competitive harms from dominant information technology platforms. His book frames the problem, examines the distinctive competitive problems of the information economy, and concludes with a guide for restoring effective antitrust policies.... |
| Beschreibung: | 349 Seiten |
| ISBN: | 9780674975781 |
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| 520 | |a In the 1970s, when the United States economy was struggling and the term "stagflation" was coined to capture inflation plus stagnant business growth, the "Chicago school" critique of antitrust rules gained ascendance. In the 1980s, during Ronald Reagan's two terms as president, that critique's policy prescriptions-the eliminating of or modifying anticompetitive rules to make them less restrictive-became common practice. As Jonathan Baker writes, "The Chicago approach to antitrust can be understood as a gamble. More relaxed antitrust rules would allow firms to achieve greater efficiencies, which would more than compensate for any risk of firms exercising market power. Put differently, the Chicagoans bet that antitrust reform could achieve long term consumer welfare gains without facilitating the creation of substantial and durable market power." The Antitrust Paradigm presents a wealth of evidence arguing that the Chicagoans lost their bet, and prescribes what should be done about it. Since the 1980s, not only has market power widened, economic productivity decline, and consumer welfare gains been modest at best, but also the economy has changed, most visibly in the information technology and Internet giants that top the financial market's valuation charts. Baker argues that both the failures of antitrust reform and the changed economy demand a new antitrust paradigm, one that restores a competitive economy through strengthened antitrust, recognizes antitrust's political context, and identifies the competitive harms from dominant information technology platforms. His book frames the problem, examines the distinctive competitive problems of the information economy, and concludes with a guide for restoring effective antitrust policies.... | ||
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| illustrated | Not Illustrated |
| indexdate | 2024-07-10T08:18:26Z |
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| spelling | Baker, Jonathan Brody Verfasser (DE-588)170394913 aut The antitrust paradigm restoring a competitive economy Jonathan B. Baker Cambridge, Massachusetts Harvard University Press 2019 349 Seiten txt rdacontent n rdamedia nc rdacarrier In the 1970s, when the United States economy was struggling and the term "stagflation" was coined to capture inflation plus stagnant business growth, the "Chicago school" critique of antitrust rules gained ascendance. In the 1980s, during Ronald Reagan's two terms as president, that critique's policy prescriptions-the eliminating of or modifying anticompetitive rules to make them less restrictive-became common practice. As Jonathan Baker writes, "The Chicago approach to antitrust can be understood as a gamble. More relaxed antitrust rules would allow firms to achieve greater efficiencies, which would more than compensate for any risk of firms exercising market power. Put differently, the Chicagoans bet that antitrust reform could achieve long term consumer welfare gains without facilitating the creation of substantial and durable market power." The Antitrust Paradigm presents a wealth of evidence arguing that the Chicagoans lost their bet, and prescribes what should be done about it. Since the 1980s, not only has market power widened, economic productivity decline, and consumer welfare gains been modest at best, but also the economy has changed, most visibly in the information technology and Internet giants that top the financial market's valuation charts. Baker argues that both the failures of antitrust reform and the changed economy demand a new antitrust paradigm, one that restores a competitive economy through strengthened antitrust, recognizes antitrust's political context, and identifies the competitive harms from dominant information technology platforms. His book frames the problem, examines the distinctive competitive problems of the information economy, and concludes with a guide for restoring effective antitrust policies.... Geschichte 1945-2019 gnd rswk-swf Antitrust law Economic aspects United States Competition United States Kartell (DE-588)4029785-8 gnd rswk-swf Wettbewerb (DE-588)4065835-1 gnd rswk-swf United States Economic policy United States Economic conditions 1945- USA (DE-588)4078704-7 gnd rswk-swf USA (DE-588)4078704-7 g Wettbewerb (DE-588)4065835-1 s Kartell (DE-588)4029785-8 s Geschichte 1945-2019 z DE-604 |
| spellingShingle | Baker, Jonathan Brody The antitrust paradigm restoring a competitive economy Antitrust law Economic aspects United States Competition United States Kartell (DE-588)4029785-8 gnd Wettbewerb (DE-588)4065835-1 gnd |
| subject_GND | (DE-588)4029785-8 (DE-588)4065835-1 (DE-588)4078704-7 |
| title | The antitrust paradigm restoring a competitive economy |
| title_auth | The antitrust paradigm restoring a competitive economy |
| title_exact_search | The antitrust paradigm restoring a competitive economy |
| title_full | The antitrust paradigm restoring a competitive economy Jonathan B. Baker |
| title_fullStr | The antitrust paradigm restoring a competitive economy Jonathan B. Baker |
| title_full_unstemmed | The antitrust paradigm restoring a competitive economy Jonathan B. Baker |
| title_short | The antitrust paradigm |
| title_sort | the antitrust paradigm restoring a competitive economy |
| title_sub | restoring a competitive economy |
| topic | Antitrust law Economic aspects United States Competition United States Kartell (DE-588)4029785-8 gnd Wettbewerb (DE-588)4065835-1 gnd |
| topic_facet | Antitrust law Economic aspects United States Competition United States Kartell Wettbewerb United States Economic policy United States Economic conditions 1945- USA |
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