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The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
"This is a book for people who practice antitrust law and for people who want to learn antitrust. For practitioners, the book supplements a treatise. For students, the book complements a casebook. It goes beyond what courts have said and done to probe the ethos, logos, and pathos of antitrust; it present the foundations of antitrust in law, history, and economics. This also could be a book for people who take an interest in antitrust policy. Antitrust law was a populist impulse. After a century during which antitrust has grown ever more technocratic, antitrust is again a matter of public interest"--
William Letwin's thorough, carefully argued, and elegantly written work is the only book length study of the Sherman Antitrust Act, a law designed to shape the economic life of a large complex society through maintaining the "correct" level of competition in the economy. This is a superb history and complete analysis of the Act, from its English and American common law antecedents to the events that led to the first revisions of the Act in the form of the Clayton Antitrust and Federal Trade Commission Acts.