In this pioneering study, Professor Armentano thoroughly researches the classic cases in antitrust law and demonstrates an enormous gap between the stated aims of antitrust law and what it actually accomplishes in the real world.
Instead of protecting competition, Professor Armentano argues, antitrust law actually protects certain politically-favored competitors. This is an essential work for anyone wishing to understand the limitations and problems of contemporary antitrust actions.
This book is an important work in the American Austrian tradition. It employed the theoretical apparatus constructed by Murray Rothbard to the American history of antitrust case law: a masterful unity of theory and history. For this reason, it is an absolutely essential work for any economics student studying in the Austrian tradition.
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Dominick T. Armentano is professor emeritus in economics at the University of Hartford in Connecticut and an Associated Scholar of the Mises Institute.
One of the most controversial areas in Austrian economics, and one where even long-established Austrian theorists differ sharply, is monopoly theory.
There is almost no economic problem, real or imagined, that cannot be made worse by inappropriate government regulation. Antitrust is no exception.
