Quarterly Journal of Austrian Economics
Winners, Losers, and Microsoft: Competition and Antitrust in High Technology by Stan J. Liebowitz and Stephen E. Margolis
Volume 2, No. 3 (Fall 1999)
The resourceful antitrust community has simply gone ahead and reinvented itself by developing several new theories and an entirely new approach to evidence. (Unfortunately, the new approach is that favorable evidence no longer matters.) All of this is important since the antitrust enthusiasts and regulators intend to apply their newer theories to the current high-tech industry cases, most importantly U.S. v. Microsoft, where their application threatens substantial economic havoc. It is in this context that Winners, Losers, and Microsoft by Stan Liebowitz and Stephen Margolis, appears at a most opportune moment, indeed. This carefully written and thoughtful book is devoted to a critical examination of these new theories and to a search for evidence, any evidence, that these new theories can support antitrust.