Tuesday, April 20, 2010
Posted by D. Daniel Sokol
George Priest (Yale Law) offers his thoughts on The Limits of Antitrust and the Chicago School Tradition.
ABSTRACT: I situate Frank Easterbrook's article, The Limits of Antitrust, within the Chicago School antitrust tradition. I demonstrate the link between the article and the works of Aaron Director and Ronald Coase, in particular their emphasis (1) on the superior effect of markets to government attempts to correct monopoly behavior and (2) the expectation of judicial error. The Easterbrook article is shown to have extended the Director-Coase antitrust program.