The Antitrust Laws of the United States of America: A Study of Competition Enforced by Law

By A. D. Neale | Go to book overview

CHAPTER VI
MONOPOLIZATION. III. SECTION 2 OF THE SHERMAN ACT AND OLIGOPOLY SITUATIONS

I. Antitrust and oligopoly

In Chapter III above the outline of the law under section 1 of the Sherman Act, dealing with restrictive agreements between competitors, was rounded off by a description of various attempts that have been made to bring this part of the law to bear against so-called 'oligopoly' situations -- those in which a few firms are responsible for much the greater part of an industry's output. In the same way this chapter must complete the story of the law of monopolization by showing how it too may be applied to 'oligopoly' situations.

The broad conclusion of Chapter III was that the attempt to extend the legal meaning of 'conspiracy' under section 1 to cover so-called 'conscious parallelism of action' has so far failed. Those who see highly concentrated, 'oligopoly' industries as a reproach to antitrust would like the law to treat as conspiracy any situation in which a few leading firms seem to abridge their internecine competition by mutual reaction or to adopt (with restrictive effect) parallel courses of action in their dealings with others; but the courts have held that a true 'meeting of the minds' is still an essential element in conspiracy and also that 'no parallelism conscious or unconscious can overcome a finding of reasonableness'. So long as this is the law, it is probable that some oligopoly situations in which competition is not notably vigorous will escape antitrust action, even though, as has been seen, the courts have developed acute organs for smelling out a 'meeting of the minds' from circumstantial evidence.

The champions of antitrust action against oligopoly, however, have more than one string to their bow. Section 2 of the Sherman Act, for example, is directed against 'conspiracy to monopolize' as well as monopolizing by a single firm. Might not 'conspiracy' in this context be given a broader scope than under section 1? The leading cases on this topic will be considered later in this chapter. Then again, might not some strands of the legal doctrine on monopolizing be extended so that in an industry dominated by a few large firms each individually

-160-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
The Antitrust Laws of the United States of America: A Study of Competition Enforced by Law
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen
/ 516

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.