Antitrust and Its Critics

Antitrust strategy policy proposals share one common characteristic: they reveal a profound misconception of the rationale of antitrust and the role of competition as a regulatory device in a free economy. To explore the nature of this misconception is the purpose of the following article. I. The Antitrust Laws Should Attack Monopoly, Not Conspiracy II. Antitrust Should Attack Bad Monopolies, Not All Monopolies III. Antitrust Should Attack Conspiracies, Not Mergers and Concentration IV. Antitrust Should Be Abandoned Altogether because Conspiracy and Monopoly Are Creatures of the State. In the Absence of Government Interference, Trade Restraints Would Not and Could Not Exist V. Conclusio