Monday, April 29, 2013

The Making of Competition Policy: Legal and Economic Sources

Posted by D. Daniel Sokol Daniel A. Crane (Michigan) and Herbert Hovenkamp (Iowa) have edited The Making of Competition Policy: Legal and Economic Sources.

BOOK ABSTRACT: This book provides edited selections of primary source material in the intellectual history of competition policy from Adam Smith to the present day. Chapters include classical theories of competition, the U.S. founding era, classicism and neoclassicism, progressivism, the New Deal, structuralism, the Chicago School, and post-Chicago theories. Although the focus is largely on Anglo-American sources, there is also a chapter on European Ordoliberalism, an influential school of thought in post-War Europe. Each chapter begins with a brief essay by one of the editors pulling together the important themes from the period under consideration.Read the introduction here.


Chapter 1. Classical Theories

Adam Smith, The Wealth of Nations
David Ricardo, Principles of Political Economy and Taxation
John Stuart Mill, Principles of Political Economy

Chapter 2. Federalism, Antifederalism, and Jacksonianism

Max Farrand, Records of the Federal Convention of 1787
Agrippa, To the People
Alexander Hamilton, Contintentalist
Thomas Cooley, Limits to State Control of Private Business

Chapter 3. Classicism, Neoclassicism, and the Sherman Act

Alfred Marshall, Principles of Economics
Arthur Twining Hadley, Economics: An Account of the Relations Between Private Property and Public Welfare
Henry Rand Hatfield, The Chicago Trust Conference (of 1899)

Chapter 4. Progressivism and the 1912 Election

Theodore Roosevelt, The Trusts, the People, and the Square Deal
William Howard Taft, We Must Get Back to Competition
Woodrow Wilson, The Tariff and the Trusts

Chapter 5. Imperfect, Monopolistic, and Workable Competition

Edward Chamberlin, The Theory of Monopolistic Competition
Joan Robinson, The Economics of Imperfect Competition
John Maurice Clark, Toward a Concept of Workable Competition

Chapter 6. The New Deal and the Institutionalists

Adolf A. Berle and Gardiner C. Means, The Modern Corporation and Private Property
Louis Brandeis, The Curse of Bigness
Rexford Tugwell, The Industrial Discipline and the Governmental Arts
Thurman Arnold, The Bottlenecks of Business

Chapter 7. Antitrust After Populism

Richard Hofstadter, What Happened to the Antitrust Movement?

Chapter 8. Ordoliberalism and the Freiburg School

Franz Böhm, Walter Eucken & Hans Grossmann-Doerth, The Ordo Manifesto of 1936
Franz Böhm, Democracy and Economic Power

Chapter 9. Competition and Innovation

Joseph Schumpeter, Capitalism, Socialism and Democracy
Kenneth Arrow, Economic Welfare and the Allocation of Resources for Invention

Chapter 10. Structuralism

Joe Bain, Industrial Organization
Carl Kaysen and Donald Turner, Antitrust Policy: An Economic and Legal Analysis
The Neal Report (1967)

Chapter 11. The Chicago School

George Stigler, The Organization of Industry
Aaron Director and Edward Levi, Law the Future: Trade Regulation
Robert H. Bork, The Antitrust Paradox
Richard A. Posner, The Chicago School of Antitrust Analysis

Chapter 12. Transactions Costs Economics and the Post-Chicago Movement

Oliver Williamson, Markets and Hierarchies: Analysis and Antitrust Implications
F.M. Scherer, Conservative Economics and Antitrust: A Variety of Influences
Herbert Hovenkamp, Post-Chicago Antitrust: A Review and Critique

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