Wednesday, November 12, 2008
Posted by D. Daniel Sokol
10 Reasons Why Antitrust Practice is More Interesting Than Any Other Area of Law (Tax law comes in second)
- Academics are relevant in terms of policy and consistently have taken important leadership roles in both federal agencies. This is not the case with other federal regulatory agencies.
- The Antitrust Law Journal is the 101st most cited law review in the country but unlike nearly all journals ahead of it on the list (all but 8), is peer reviewed and has lots of economists publishing in it.
- Senior academic Professors of Economists regularly take leave to spend a two year stint in DC as chief economist at the DOJ and FTC (including, most recently, the guy who literally wrote the book on IO). Compare this with other agencies where Associate Professors with less name power and fewer publications often are appointed chief economist.
- Our practitioners are high end - with a complex field of regulation this is not surprising.
- Whereas in other areas of law, law review articles have lost meaning, in antitrust decisions, judges regularly cite articles and books on the subject.
- Economists play a significant role in understanding and shaping the law.
- As Dan Crane points out, antitrust is no longer a hot button political issue. As antitrust has become more technocratic, this means that you actually have to fully think through your arguments.
- How many other sections of the ABA publish as much as the Antitrust Section or as sophisticated a series of outputs as the Antitrust Section?
- The top European law students choose antitrust because that is where the action is in Europe. In the US, this is seen as a specialty course but maybe with an Obama administration that will bring more cases (and potentially high profile ones), antitrust will be even hotter among US law school classes.
- Antitrust practice in the US has become increasingly international, which adds to the complexity of work in the field.