LIST OF EXHIBITS ; INTRODUCTION ; ANTITRUST ECONOMICS ON TRIAL; DAY 1 -- THE TRIAL BEGINS; THE WITNESS DEFINES PRICE THEORY ; The Testimony on the Scope of Price Theory; The Testimony on the Application of Price Theory to Antitrust; The Testimony on the Contestable Market Theory; The Testimony on the Predation Problem -- The Testimony on Superior Efficiency and the Persistence of Monopoly; DAY 2 -- THE EXAMINATION TURNS TO HORIZONTAL AND VERTICAL MERGERS ; The Testimony on Horizontal Mergers and Horizontal Integration ; The Testimony on Defining the Relevant Market
The Testimony on Whether Globalization of Markets Has Made Antitrust an Anachronism The Testimony on Vertical Mergers and Vertical Integration; DAY 3 -- TAKEOVER ISSUES TAKE OVER; The Testimony on Conglomerate Mergers and Conglomerate Integration; The Testimony on Corporate Deal Mania Generally; DAY 4 -- THE IMPACT OF ECONOMIC POWER IS DISCUSSED; PUBLIC POLICY INTERESTS IN ECONOMIC LIBERTY AND DEMOCRATIC PROCESS YIELD A CONUNDRUM ; INDEX
Summary
Is it the central purpose of American antitrust policy to encourage decentralization of economic power? Or is it to promote ""consumer welfare""? Is there a painful trade-off between market dominance and economic ""efficiency""? What is the proper role of government in this area? In recent years the public policy debate on these core questions has been marked by a cacophony of divergent opinions--theorists against empiricists, apostles of the ""new learning"" against defenders of the traditional structure-conduct-performance paradigm, ""laissez-faire"" advocates against ""interventionists."
