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Description
When it was first published a quarter of a
century ago, Richard Posner's exposition and
defense of an economic approach to antitrust law
was a jeremiad against the intellectual disarray
that then characterized the field. As other
perspectives on antitrust law have fallen away,
Posner's book has played a major role in
transforming the field of antitrust law into a
body of economically rational principles largely
in accord with the ideas set forth in the first
edition. Today's antitrust professionals may
disagree on specific practices and rules, but
most litigators, prosecutors, judges, and
scholars agree that the primary goal of antitrust
laws should be to promote economic welfare, and
that economic theory should be used to determine
how well business practices conform to that
goal.In this thoroughly revised edition, Posner
explains the economic approach to new generations
of lawyers and students. He updates and amplifies
his approach as it applies to the developments,
both legal and economic, in the antitrust
field since 1976. The new economy, for example,
has presented a host of difficult antitrust
questions, and in an entirely new chapter, Posner
explains how the economic approach can be applied
to new industries such as software manufacturers,
Internet service providers, and those that
provide communications equipment and services.
The antitrust laws are here to stay, Posner
writes, and the practical question is how to
administer them better-more rationally, more
accurately, more expeditiously, more efficiently.
This fully revised classic will continue to be
the standard work in the field.
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Antitrust Law, Second Edition Second Edition