Friday, June 22, 2007

Chicago Influence on Antitrust

Justice Stevens, writing for the majority, simply relied on the age of the relevant precedents: "It is far too late in the history of our antitrust jurisprudence to question the proposition that certain tying arrangements pose an acceptable risk of stifling competition and are therefore unreasonable per se."

To an economist, this echoes the medieval preference for Aristotle over experiment based on Aristotle's antiquity.

That is from Richard Schmalensee's Thoughts on the Chicago Legacy in the U.S. Antitrust.
Richard is of course the Dean of MIT's Sloan School of Management.

Here is Richard's new book coauthored with David Evans. I got it at HK's Commercial Press bookstore in Causeway.

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