This article describes the ambiguity inherent is U.S. antitrust policy, arguing that it is a necessary consequence of the true, but not commonly understood, task of antitrust policy. Competition is multidimensional in form and its different dimensions cannot be maximized together. Therefore,...

The first part of this paper discusses Armen Alchian's classic 1950 article 'Uncertainty, Evolution, and Economic Theory' and argues against the notion that it is easy to eliminate rationality from economic behavior by appealing to evolution as a substitute. The second section discusses...