Section 2 of the Sherman Act was designed to impose sanctions on all monopolies and attempts to monopolize regardless whether the firm had engaged in anticompetitive conduct. This conclusion emerges from the first ever textualist analysis, a form of statutory interpretation vigorously championed...

After years of decline, America’s middle class may hold a smaller share of U.S. wealth than the top 1%, as the middle 60% of U.S. households saw their wealth fall to about 23% of national income. The middle class has about 60 times more households that the 1.3 million households of the 1%....

What social rate of return should the public sector pursue for spending that is intended to yield long-term benefits—that is, for “government investment”? People who favor less government spending support higher rates because they would discourage interventions, while people who favor more...

Many lawyers and economists use economic theory and limited empirical analysis to justify particular rules against predatory pricing. Their various proposals range from no rule at all to a rule that would restrict production. However, as this Article demonstrates, economic theory alone simply...

This chapter introduces the basic concepts behind benefit-cost analysis or BCA. It is important to remind ourselves that BCA is a tool towards a decision rather than a decision itself. This consideration alone obviates most of the criticism of BCA

Should unions and corporations be treated identically under the antitrust laws? This article explores this provocative question by examining whether union mergers should be subject to the antitrust laws. Currently unions and corporations are treated very differently. Large corporate mergers are...

1. An assessment of important issues concerning the application of benefit-cost analysis to social policy / Aidan R. Vining and David L. Weimer -- 2. Toward standardization of benefit-cost analysis of early childhood interventions / Lynn A. Karoly -- 3. Principles and standards for benefit-cost...

Written by leading experts in the field, each chapter in this book examines in depth a topic in law and economics. John Connor begins by describing and evaluating the results of his extensive survey of reports of cartel overcharges. Dennis Weisman models the price effects of mergers that not...

Benefit-cost analysis reduces all of the impacts of a proposed policy change to a common unit of measurement. It is used in a wide variety of fields including agriculture, life and health, transportation and the environment. In this single volume the editors, both leading scholars in their...