Antitrust Law: Economic Theory and Common Law Evolution

Description

Professor Keith Hylton provides a timely discussion of the most important doctrines of modern antitrust. Underlying his discussion is the thesis that antitrust can perhaps be best understood through the lens of federal common law. This book review begins by discussing how Professor Hylton's book differs from other books in the field, what topics it covers, and who might profitably read the book. The bulk of the review provides a perspective on the book.On the positive side, Hylton has written a lucid text that fruitfully analyzes antitrust from both a legal and a traditional economic perspective. The review's critique, however, is two-fold. First, while the book does initially lay out some of the limitations of the neoclassical economic paradigm, it ends up not paying sufficient attention to new research in economics that casts doubt on the plausibility of traditional Chicago School law and economics. Second, Professor Hylton ultimately does not take advantage of several opportunities to critique the limitations of the common law in shaping antitrust and thus suggest how competition law might develop in the future.

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