Revitalizing Antitrust in Its Second Century: Essays on Legal, Economic, and Political Policy

By Harry First; Eleanor M. Fox et al. | Go to book overview

A rough precedent for the approach here suggested is the National Cooperative Research Act of 1984, 117 which provides for single damages plus attorneys' fees (with certain exceptions) in cases arising out of joint research and development programs that have been properly reported in advance to enforcement agencies. 118


CONCLUSION

Pursuit of the economic goals of antitrust requires a blending of efficiency and consumer welfare. While antitrust law seeks to realize all types of efficiencies, production and innovation efficiencies, which lead to technological progress, contribute the most to social wealth enhancement, and, therefore, should be the key objectives of antitrust policy. It follows that the immediate interest of consumers should sometimes be deferred to the achievement of production or innovation advances. But, ultimately, consumers must receive an appropriate share of the wealth created by such efficiencies, which is the share that would be allocated to them through a competitive market. Thus, provision must be made for the eventual restoration of competitive market conditions. These economic objectives can be implemented by placing greater emphasis on stability and predictability of antitrust rules, preventing exclusionary conduct that threatens production efficiency, and recognizing a limited efficiencies defense when otherwise restrictive conduct would enhance production or innovation efficiency.


N0TES

Helpful comments were received from Airlie House conference commentators Walter Adams, Phillip Areeda, and Jerome Hochberg, and also from Scott Bales, Robert Bone, Ronald Cass, Jane Cohen, Clayton Gillette, Michael Harper, Robert Lande, Robert Marks, Stephen Salop, Louis Schwartz, Robert Seidman, Ingo Vogelsang, and the participants in the Boston University Legal Theory Workshop. Thanks are also due to Beth F. Kirk for valuable research assistance, and to the Centre for Socio­Legal Studies of Oxford University, where I did some of the thinking for this chapter.

1.
It is therefore possible to agree with Walter Adams and James Brock that the fundamental goal of antitrust law is economic freedom (see Adams & Brock, "Enforceability: An Empirical Perspective," chapter 6 this volume) and at the same time maintain that well-defined economic indicia provide the best measuring rod for achieving that goal. The Supreme Court intimated as much in Continental T.V., Inc., v. GTE Sylvania Inc., 433 U.S. 36, 53 n.21 ( 1977) (noting that competitive economies have political, social, and economic advantages, but antitrust policy must look to market considerations for objective benchmarks). Cf. Brodley, "Joint Ventures and Antitrust Policy", 95 Harv. L. Rev.1521, 1523 ( 1982) [hereinafter Brodley, Joint Ventures] (characterizing equality and efficiency as consistent policy objectives); Brodley, Potential Competition Mergers: A Structural Synthesis,

-119-

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.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

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
Revitalizing Antitrust in Its Second Century: Essays on Legal, Economic, and Political Policy
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?

Help
Full screen
/ 550

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access 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

    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.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.