Antitrust: The Case for Repeal [Paperback]

Dominick T. Armentano (Author)

Book Description

Publication Date: July 7, 2007

This tour de force rips the intellectual cover off antitrust regulation to reveal it as a bludgeon used by businesses against their competitors. Unlike many critics, Professor Armentano carries the logic of his analysis to the fullest possible extent: "My position on antitrust has never been ambiguous," he writes. "All of the antitrust laws and all of the enforcement agency authority should be summarily repealed. The antitrust apparatus cannot be reformed; it must be abolished."

Professor Armentano begins with the most rigorous and revealing account of the Microsoft antitrust battle to appear in print. He further discusses other recent cases, including Toys 'R' Us, Staples, and Intel, as well as many historical cases. He covers nearly every conceivable rationale for antitrust, including price fixing, predatory pricing, product tie-ins, vertical and horizontal mergers, and many more.

This is a crucially important work in our new era of antitrust enforcement. This 2nd edition is completely revised and includes a treatment of Murray Rothbard's contributions to the theory of monopoly and competition. It ends by arguing that antitrust is contrary to both free-market economic theory and the protection of property rights in a free society.

Editorial Reviews

About the Author

Dominick T. Armentano is professor emeritus in economics at the University of Hartford in Connecticut and an adjunct scholar of the Ludwig von Mises Institute. He also taught at the University of Connecticut, where he received his Ph.D. in economics in 1966.

Product Details

• Paperback: 112 pages
• Publisher: Ludwig von Mises Institute; 3rd edition (July 7, 2007)
• Language: English
• ISBN-10: 0945466250
• ISBN-13: 978-0945466253
• Product Dimensions: 8.2 x 5.2 x 0.4 inches
• Shipping Weight: 5.6 ounces (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #601,820 in Books (See Top 100 in Books)
  • #51 in Books > Law > Administrative Law > Antitrust

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Customer Reviews

Most Helpful Customer Reviews

4 of 5 people found the following review helpful:

5.0 out of 5 stars Makes sense of a confusing area of law and economics., December 5, 2003

By 

Jacob H. Huebert (Ohio, United States) - See all my reviews
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This review is from: Antitrust: The Case for Repeal (Paperback)

Armentano analyzes and lays waste to the fallacies underlying the standard Chicago school economic analysis of monopolies, and how it has been applied by courts interpreting the antitrust laws.

This book is short and easy to read, and it is an essential supplement for anyone trying to make sense of antitrust law and economics.

3 of 4 people found the following review helpful:

5.0 out of 5 stars Outstanding tour-de-force, June 8, 2003

By 

Zachary Gochenour (Fairfax, VA) - See all my reviews
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This review is from: Antitrust: The Case for Repeal (Paperback)

Dr. Armentano's book is remarkable and indispensible. Since it it short, do not expect it to be an all-inclusive study of the entire past, present, and future of antitrust law. It is simple, straightforward logic that is often missing when analyzing complex legal problems - even from most economic work in the field.

Antitrust: The Case For Repeal looks closely at the Microsoft case and uses it almost allegorically to condemn the entire practice of antitrust law in the United States. He showcases the inherent contradictions, the arbitrary law, and the self-defeating nature of antitrust legislation. His scholarship is impeccable and the writing is smooth. This book should be a tremendous resource for any research done in the field and also excellent intellectual reading for anyone interested in a common-sense approach to antitrust.

5 of 7 people found the following review helpful:

5.0 out of 5 stars Concise Introduction to Antitrust Law (with citations!), February 16, 2004

By 

Monica Granger "fancyfreemarketeer" (Wishing for Houston) - See all my reviews
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This review is from: Antitrust: The Case for Repeal (Paperback)

For the length of this book (106 pages, sans index), the delivery was very concise and dense. The book is both layperson and student-friendly; the text has citations that direct a more thorough understanding of the book (including a good article by Thomas DiLorenzo concerning the Origins of Antitrust that can be had for free on mises.org), and also utilizes enough mainstream economic theory to allow students to cross-apply arguments to current economic studies.

Armentano delivers an acute, crisp take on the principles at the base of antitrust policies. He addresses widely-used assumptive errors underlying economic models used as justification for antitrust laws. And if you're wondering who benefits from antitrust: Over 90% of the cases, he explains, are begun by private companies against private companies. So much for benevolent government watching out for intellectually lackluster consumers.

Speaking of consumers, why is it that whenever antitrust advocates speak of that mystical class of individuals, inevitably they are caricatured as bereft of any sense concerning what to do with their own money? This is just one of the numerous fallacies underlying antitrust-advocates' arguments that Armentano addresses.

An excellent introduction to the basis of antitrust argumentation, with overviews of relevant court cases, and a good companion to courses in antitrust law or industrial organization.