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Antitrust and Monopoly: Anatomy of a Policy Failure, by Dominick T. Armentano
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An indictment of antitrust policy, illustrating that the laws have not been employed against monopolies, but have been used to restrain and restrict the competitive process.
- Sales Rank: #3343611 in Books
- Published on: 1982-04-28
- Ingredients: Example Ingredients
- Original language: English
- Number of items: 1
- Binding: Hardcover
- 304 pages
Review
"For anyone wanting to know what’s behind today’s headlines . . . should be required reading by every Congressman." -- Yale T. Brozen, Professor Emeritus of Economics, Graduate School of Business, University of Chicago
"Should be on the reading list of every antitrust course. Clearly stated, rigorously developed . . . for professors as well as students." -- Donald Dewey, professor of economics, Columbia University
"Skillfully honed, eloquent . . . Professor Armentano’s book must be mastered by all who would be heard on this issue." -- Business History Review
"The . . . best book-length treatment of this issue . . . should become a, if not the standard in economics, history, and political science." -- Public Choice
"Written in a very clear, concise, and declarative manner, which makes it accessible to students as well as interested professionals." -- Antitrust Bulletin
About the Author
Dominick T. Armentano is Professor Emeritus of Economics at the University of Hartford.
Most helpful customer reviews
0 of 0 people found the following review helpful.
This is a must read for anyone interested in political/economic ...
By SeaHuntFan
This is a must read for anyone interested in political/economic issues.
Dr. Armentano presents a solid case of how a well intentioned law intending to protect the consumer actually ends up with the opposite effect.
A private firm in a free market, ie one that has no government sanctioned barriers to entry, can only maintain a degree of monopoly power by being efficient and charging such a low price for its' product that potential competitors cannot profitably compete. That situation would benefit the consumer, yet according to Anti Trust laws such a firm would be subject to being broken up. Meanwhile firms in regulated industries reap monopoly profits due artificial barriers to entry instituted by the government regulatory agency. Firms in regulated industries are not subject to Antitrust laws.
After reading this book one can apply its' logic to see the real reasons behind the recent Epi pen scandal. The marketer of the Epi pen had no competition because the FDA would not allow other firms to enter the market. Meanwhile the politicians and press are strangely silent in diagnosing the problem in this case.
The fault lies totally with the FDA which is working in conjunction with Mylan to create an government sanctioned monopoly in which the FDA creates barriers to entry into the market which allows the firm to exploit the consumer. The FDA and other regulatory agencies often behave in this manner, all under the guise of "protecting the consumer" when in reality they are having the exact opposite effect.
0 of 0 people found the following review helpful.
Government privilege is the soul author the damaging practice of ...
By Lee Robinson
Government privilege is the soul author the damaging practice of monopoly. Private monopolies are formed temporarily from cutting prices and improving service. Private monopolies cannot last long otherwise because there is an invulnerable difference between no competition and no possibility of competition. This is the standard work in opposition to these government privilege rent-seeking laws of "anti-trust".
0 of 0 people found the following review helpful.
Five Stars
By Leonardo C.
Excelent!!!
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