Antitrust: The Case for Repeal

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 "All of the antitrust laws and all of the enforcement agency authority should be summarily repealed.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.