Edited by F.M. Scherer, Professor of Public Policy and Corporate Management in the Aetna Chair, Emeritus, Harvard Kennedy School of Government, US

'The collection will no doubt prove a valuable source for students and researchers interested in the history and development of monopoly and competition policy.'

• CONTENTSVOLUME 1PART 1THE GOALS OF COMPETITION POLICYA SEMINAL VIEWS1. ‘The Case of Monopolies’, (1907)2. Adam Smith, ‘An Inquiry into the Nature and Causes of the Wealth of Nations’3. James Madison (1961), ‘The Federalist No. 10’4. Arthur T. Hadley (1887), ‘Private Monopolies and Public Rights’5. Richard T. Ely (1887), ‘The Future of Corporations’6. Alfred Marshall (1890), ‘Some Aspects of Competition: Presidential Address Delivered to the Economic Science and Statistics Section of the British Association, at Leeds, 1890’7. John Bates Clark (1900), ‘Trusts’8. Henry C. Simons (1936), ‘The Requisites of Free Competition’B EXCESSIVE COMPETITION CONCERNS9. Robert Liefmann (1915), ‘Monopoly or Competition as the Basis of a Government Trust Policy’10. Eliot Jones (1920), ‘Is Competition in Industry Ruinous’11. Kojiro Niino (1962), ‘The Logic of Excessive Competition - With Reference to the Japanese Inter-firm Competition’12. Ryutaro Komiya (1990), ‘The Japanese Economy: Trade, Industry and Government’C THE GOALS DEBATE REDUX13. Robert H. Bork (1966), ‘Legislative Intent and the Policy of the Sherman Act’14. Robert H. Lande (1989), ‘Chicago’s False Foundation: Wealth Transfers (Not Just Efficiency) Should Guide Antitrust’15. Richard A. Posner (1975), ‘The Social Costs of Monopoly and Regulation’16. William S .Comanor and Robert H. Smiley (1975), ‘Monopoly and the Distribution of Wealth’17. James C. Miller III, Thomas F. Walton, William E. Kovacic and Jeremy A. Rabkin (1984), ‘Industrial Policy: Reindustrialization Through Competition or Coordinated Action?’PART 2POLICY TOWARD RESTRICTIVE AGREEMENTS18. (1926), ‘Against the Corn Dealers’19. Dr Kurt Bloch (1932), ‘On German Cartels’20. Ernst-Joachim Mestmäcker (1980), ‘Competition Policy and Antitrust: Some Comparative Observations’21. David B. Audretsch (1989), ‘Legalized Cartels in West Germany’22. Klaus Stegemann (1977), ‘The Exemption of Specialization Agreements: As Proposed for Stage II Amendments to the Combines Investigation Act’23. James P. Cairns (1964), ‘Benefits from Restrictive Agreements: The British Experience’24. R. W. Shaw and S. A. Shaw (1983), ‘Excess Capacity and Rationalisation in the West European Synthetic Fibres Industry’25. Merton J. Peck, Richard C. Levin and Akira Goto (1988), ‘Picking Losers: Public Policy Toward Declining Industries in Japan’26. William H. Nicholls (1949), ‘The Tobacco Case of 1946’27. Jesse W. Markham (1951), ‘The Nature and Significance of Price Leadership’28. Peter Asch and Joseph J. Seneca (1975), ‘Characteristics of Collusive Firms’VOLUME 2PART 1MONOPOLIZATION AND ABUSIVE PRACTICESA DOMINANT ENTERPRISES IN THE UNITED STATES1. Charles J. Bullock (1901), ‘Trust Literature: A Survey and A Criticism’2. F. M. Scherer (1987), ‘Antitrust, Efficiency and Progress’3. George W. Stocking and Willard F. Mueller (1955), ‘The Cellophane Case and the New Competition’4. Oliver E. Williamson (1972), ‘Dominant Firms and the Monopoly Problem: Market Failure Considerations’B INTERNATIONAL PERSPECTIVES5. Erich Kaufer (1980), ‘The Control of the Abuse of Market Power by Market-Dominant Firms Under the German Law Against Restraints of Competition’6. Eleanor M. Fox (1986), ‘Monopolization and Dominance in the United States and the European Community: Efficiency, Opportunity and Fairness’7. Richard E. Caves (1974), ‘International Trade, International Investment and Imperfect Markets’C PREDATORY PRACTICES8. L. G. Telser (1966), ‘Cutthroat Competition and the Long Purse’9. B. S. Yamey (1972), ‘Predatory Price Cutting: Notes and Comments’10. Malcolm R. Burns (1986), ‘Predatory Pricing and the Acquisition Cost of Competitors’11. Oliver E. Williamson (1977), ‘Predatory Pricing: A Strategic and Welfare Analysis’12. William J. Baumol (1979), ‘Quasi-Permanence of Price Reductions: A Policy for Prevention Pricing’PART 2MERGER POLICY13. George J. Stigler (1950), ‘Monopoly and Oligopoly by Merger’14. George Bittlingmayer (1985), ‘Did Antitrust Policy Cause the Great Merger Wave?’15. Shaw Livermore (1935), ‘The Success of Industrial Mergers’16. Jürgen Müller (1976), ‘The Impact of Mergers on Concentration: A Study of Eleven West German Industries’17. David M.Barton and Roger Sherman (1984), ‘The Price and Profit Effects of Horizontal Merger: A Case Study’18. Henry G. Manne (1965), ‘Mergers and the Market for Corporate Control’19. Richard E. Caves (1989), ‘Mergers, Takeovers and Economic Efficiency: Foresight vs Hindsight’20. Oliver E. Williamson (1968), ‘Economies as an Antitrust Defense: The Welfare Tradeoffs’21. Alexis Jacquemin (1990), ‘Horizontal Concentration and European Merger Policy’22. William M.Landes and Richard A.Posner (1981), ‘Market Power in Antitrust Cases’23. George J. Stigler and Robert A. Sherwin (1985), ‘The Extent of the Market’24. U.S .Department of Justice Merger Guidelines (June 14, 1984)PART 3THE ADMINISTRATION OF COMPETITION POLICY25. William Breit and Kenneth G. Elzinga (1974), ‘Antitrust Enforcement and Economic Efficiency: The Uneasy Case for Treble Damages’26. F. M. Scherer (1990), ‘Sunlight and Sunset at the Federal Trade Commission’

Edited by F.M. Scherer, Professor of Public Policy and Corporate Management in the Aetna Chair, Emeritus, Harvard Kennedy School of Government, US

'The collection will no doubt prove a valuable source for students and researchers interested in the history and development of monopoly and competition policy.'

• CONTENTSVOLUME 1PART 1THE GOALS OF COMPETITION POLICYA SEMINAL VIEWS1. ‘The Case of Monopolies’, (1907)2. Adam Smith, ‘An Inquiry into the Nature and Causes of the Wealth of Nations’3. James Madison (1961), ‘The Federalist No. 10’4. Arthur T. Hadley (1887), ‘Private Monopolies and Public Rights’5. Richard T. Ely (1887), ‘The Future of Corporations’6. Alfred Marshall (1890), ‘Some Aspects of Competition: Presidential Address Delivered to the Economic Science and Statistics Section of the British Association, at Leeds, 1890’7. John Bates Clark (1900), ‘Trusts’8. Henry C. Simons (1936), ‘The Requisites of Free Competition’B EXCESSIVE COMPETITION CONCERNS9. Robert Liefmann (1915), ‘Monopoly or Competition as the Basis of a Government Trust Policy’10. Eliot Jones (1920), ‘Is Competition in Industry Ruinous’11. Kojiro Niino (1962), ‘The Logic of Excessive Competition - With Reference to the Japanese Inter-firm Competition’12. Ryutaro Komiya (1990), ‘The Japanese Economy: Trade, Industry and Government’C THE GOALS DEBATE REDUX13. Robert H. Bork (1966), ‘Legislative Intent and the Policy of the Sherman Act’14. Robert H. Lande (1989), ‘Chicago’s False Foundation: Wealth Transfers (Not Just Efficiency) Should Guide Antitrust’15. Richard A. Posner (1975), ‘The Social Costs of Monopoly and Regulation’16. William S .Comanor and Robert H. Smiley (1975), ‘Monopoly and the Distribution of Wealth’17. James C. Miller III, Thomas F. Walton, William E. Kovacic and Jeremy A. Rabkin (1984), ‘Industrial Policy: Reindustrialization Through Competition or Coordinated Action?’PART 2POLICY TOWARD RESTRICTIVE AGREEMENTS18. (1926), ‘Against the Corn Dealers’19. Dr Kurt Bloch (1932), ‘On German Cartels’20. Ernst-Joachim Mestmäcker (1980), ‘Competition Policy and Antitrust: Some Comparative Observations’21. David B. Audretsch (1989), ‘Legalized Cartels in West Germany’22. Klaus Stegemann (1977), ‘The Exemption of Specialization Agreements: As Proposed for Stage II Amendments to the Combines Investigation Act’23. James P. Cairns (1964), ‘Benefits from Restrictive Agreements: The British Experience’24. R. W. Shaw and S. A. Shaw (1983), ‘Excess Capacity and Rationalisation in the West European Synthetic Fibres Industry’25. Merton J. Peck, Richard C. Levin and Akira Goto (1988), ‘Picking Losers: Public Policy Toward Declining Industries in Japan’26. William H. Nicholls (1949), ‘The Tobacco Case of 1946’27. Jesse W. Markham (1951), ‘The Nature and Significance of Price Leadership’28. Peter Asch and Joseph J. Seneca (1975), ‘Characteristics of Collusive Firms’VOLUME 2PART 1MONOPOLIZATION AND ABUSIVE PRACTICESA DOMINANT ENTERPRISES IN THE UNITED STATES1. Charles J. Bullock (1901), ‘Trust Literature: A Survey and A Criticism’2. F. M. Scherer (1987), ‘Antitrust, Efficiency and Progress’3. George W. Stocking and Willard F. Mueller (1955), ‘The Cellophane Case and the New Competition’4. Oliver E. Williamson (1972), ‘Dominant Firms and the Monopoly Problem: Market Failure Considerations’B INTERNATIONAL PERSPECTIVES5. Erich Kaufer (1980), ‘The Control of the Abuse of Market Power by Market-Dominant Firms Under the German Law Against Restraints of Competition’6. Eleanor M. Fox (1986), ‘Monopolization and Dominance in the United States and the European Community: Efficiency, Opportunity and Fairness’7. Richard E. Caves (1974), ‘International Trade, International Investment and Imperfect Markets’C PREDATORY PRACTICES8. L. G. Telser (1966), ‘Cutthroat Competition and the Long Purse’9. B. S. Yamey (1972), ‘Predatory Price Cutting: Notes and Comments’10. Malcolm R. Burns (1986), ‘Predatory Pricing and the Acquisition Cost of Competitors’11. Oliver E. Williamson (1977), ‘Predatory Pricing: A Strategic and Welfare Analysis’12. William J. Baumol (1979), ‘Quasi-Permanence of Price Reductions: A Policy for Prevention Pricing’PART 2MERGER POLICY13. George J. Stigler (1950), ‘Monopoly and Oligopoly by Merger’14. George Bittlingmayer (1985), ‘Did Antitrust Policy Cause the Great Merger Wave?’15. Shaw Livermore (1935), ‘The Success of Industrial Mergers’16. Jürgen Müller (1976), ‘The Impact of Mergers on Concentration: A Study of Eleven West German Industries’17. David M.Barton and Roger Sherman (1984), ‘The Price and Profit Effects of Horizontal Merger: A Case Study’18. Henry G. Manne (1965), ‘Mergers and the Market for Corporate Control’19. Richard E. Caves (1989), ‘Mergers, Takeovers and Economic Efficiency: Foresight vs Hindsight’20. Oliver E. Williamson (1968), ‘Economies as an Antitrust Defense: The Welfare Tradeoffs’21. Alexis Jacquemin (1990), ‘Horizontal Concentration and European Merger Policy’22. William M.Landes and Richard A.Posner (1981), ‘Market Power in Antitrust Cases’23. George J. Stigler and Robert A. Sherwin (1985), ‘The Extent of the Market’24. U.S .Department of Justice Merger Guidelines (June 14, 1984)PART 3THE ADMINISTRATION OF COMPETITION POLICY25. William Breit and Kenneth G. Elzinga (1974), ‘Antitrust Enforcement and Economic Efficiency: The Uneasy Case for Treble Damages’26. F. M. Scherer (1990), ‘Sunlight and Sunset at the Federal Trade Commission’

Edited by F.M. Scherer, Professor of Public Policy and Corporate Management in the Aetna Chair, Emeritus, Harvard Kennedy School of Government, US

'The collection will no doubt prove a valuable source for students and researchers interested in the history and development of monopoly and competition policy.'

• CONTENTSVOLUME 1PART 1THE GOALS OF COMPETITION POLICYA SEMINAL VIEWS1. ‘The Case of Monopolies’, (1907)2. Adam Smith, ‘An Inquiry into the Nature and Causes of the Wealth of Nations’3. James Madison (1961), ‘The Federalist No. 10’4. Arthur T. Hadley (1887), ‘Private Monopolies and Public Rights’5. Richard T. Ely (1887), ‘The Future of Corporations’6. Alfred Marshall (1890), ‘Some Aspects of Competition: Presidential Address Delivered to the Economic Science and Statistics Section of the British Association, at Leeds, 1890’7. John Bates Clark (1900), ‘Trusts’8. Henry C. Simons (1936), ‘The Requisites of Free Competition’B EXCESSIVE COMPETITION CONCERNS9. Robert Liefmann (1915), ‘Monopoly or Competition as the Basis of a Government Trust Policy’10. Eliot Jones (1920), ‘Is Competition in Industry Ruinous’11. Kojiro Niino (1962), ‘The Logic of Excessive Competition - With Reference to the Japanese Inter-firm Competition’12. Ryutaro Komiya (1990), ‘The Japanese Economy: Trade, Industry and Government’C THE GOALS DEBATE REDUX13. Robert H. Bork (1966), ‘Legislative Intent and the Policy of the Sherman Act’14. Robert H. Lande (1989), ‘Chicago’s False Foundation: Wealth Transfers (Not Just Efficiency) Should Guide Antitrust’15. Richard A. Posner (1975), ‘The Social Costs of Monopoly and Regulation’16. William S .Comanor and Robert H. Smiley (1975), ‘Monopoly and the Distribution of Wealth’17. James C. Miller III, Thomas F. Walton, William E. Kovacic and Jeremy A. Rabkin (1984), ‘Industrial Policy: Reindustrialization Through Competition or Coordinated Action?’PART 2POLICY TOWARD RESTRICTIVE AGREEMENTS18. (1926), ‘Against the Corn Dealers’19. Dr Kurt Bloch (1932), ‘On German Cartels’20. Ernst-Joachim Mestmäcker (1980), ‘Competition Policy and Antitrust: Some Comparative Observations’21. David B. Audretsch (1989), ‘Legalized Cartels in West Germany’22. Klaus Stegemann (1977), ‘The Exemption of Specialization Agreements: As Proposed for Stage II Amendments to the Combines Investigation Act’23. James P. Cairns (1964), ‘Benefits from Restrictive Agreements: The British Experience’24. R. W. Shaw and S. A. Shaw (1983), ‘Excess Capacity and Rationalisation in the West European Synthetic Fibres Industry’25. Merton J. Peck, Richard C. Levin and Akira Goto (1988), ‘Picking Losers: Public Policy Toward Declining Industries in Japan’26. William H. Nicholls (1949), ‘The Tobacco Case of 1946’27. Jesse W. Markham (1951), ‘The Nature and Significance of Price Leadership’28. Peter Asch and Joseph J. Seneca (1975), ‘Characteristics of Collusive Firms’VOLUME 2PART 1MONOPOLIZATION AND ABUSIVE PRACTICESA DOMINANT ENTERPRISES IN THE UNITED STATES1. Charles J. Bullock (1901), ‘Trust Literature: A Survey and A Criticism’2. F. M. Scherer (1987), ‘Antitrust, Efficiency and Progress’3. George W. Stocking and Willard F. Mueller (1955), ‘The Cellophane Case and the New Competition’4. Oliver E. Williamson (1972), ‘Dominant Firms and the Monopoly Problem: Market Failure Considerations’B INTERNATIONAL PERSPECTIVES5. Erich Kaufer (1980), ‘The Control of the Abuse of Market Power by Market-Dominant Firms Under the German Law Against Restraints of Competition’6. Eleanor M. Fox (1986), ‘Monopolization and Dominance in the United States and the European Community: Efficiency, Opportunity and Fairness’7. Richard E. Caves (1974), ‘International Trade, International Investment and Imperfect Markets’C PREDATORY PRACTICES8. L. G. Telser (1966), ‘Cutthroat Competition and the Long Purse’9. B. S. Yamey (1972), ‘Predatory Price Cutting: Notes and Comments’10. Malcolm R. Burns (1986), ‘Predatory Pricing and the Acquisition Cost of Competitors’11. Oliver E. Williamson (1977), ‘Predatory Pricing: A Strategic and Welfare Analysis’12. William J. Baumol (1979), ‘Quasi-Permanence of Price Reductions: A Policy for Prevention Pricing’PART 2MERGER POLICY13. George J. Stigler (1950), ‘Monopoly and Oligopoly by Merger’14. George Bittlingmayer (1985), ‘Did Antitrust Policy Cause the Great Merger Wave?’15. Shaw Livermore (1935), ‘The Success of Industrial Mergers’16. Jürgen Müller (1976), ‘The Impact of Mergers on Concentration: A Study of Eleven West German Industries’17. David M.Barton and Roger Sherman (1984), ‘The Price and Profit Effects of Horizontal Merger: A Case Study’18. Henry G. Manne (1965), ‘Mergers and the Market for Corporate Control’19. Richard E. Caves (1989), ‘Mergers, Takeovers and Economic Efficiency: Foresight vs Hindsight’20. Oliver E. Williamson (1968), ‘Economies as an Antitrust Defense: The Welfare Tradeoffs’21. Alexis Jacquemin (1990), ‘Horizontal Concentration and European Merger Policy’22. William M.Landes and Richard A.Posner (1981), ‘Market Power in Antitrust Cases’23. George J. Stigler and Robert A. Sherwin (1985), ‘The Extent of the Market’24. U.S .Department of Justice Merger Guidelines (June 14, 1984)PART 3THE ADMINISTRATION OF COMPETITION POLICY25. William Breit and Kenneth G. Elzinga (1974), ‘Antitrust Enforcement and Economic Efficiency: The Uneasy Case for Treble Damages’26. F. M. Scherer (1990), ‘Sunlight and Sunset at the Federal Trade Commission’