Two recent papers by prominent antitrust scholars argue that a revived antitrust movement can help reverse the dramatic rise in economic inequality and the erosion of political democracy in the United States. Both papers rely on the legislative history of the key antitrust statutes to support...

Antitrust economists have generally supported the Consumer Welfare Standard as a guide to antitrust policy questions because of its origins in Marshall’s consumer surplus approach and the general economic surplus approach to welfare economics. But welfare economists no longer support the...

Introducción. A pesar de los problemas económicos que se han experimentado en los pasados decenios en los Estados Unidos la Gran Depresión de los años treinta persiste como la crisis por excelencia. Fue la peor declinación económica en la historia de los Estados Unidos. La producción...

This study analyzes the important increase in the rate of profit which occurred in the United States during World War II. The gap between the predepression trend line, from 1900 to 1929, and the postwar line, from 1946 to 1989, is estimated as a shift of 15.8 percent in absolute terms (to be...

Industrial organization studies of pricing are examined, focusing on the formative debates of 1950-70. It is argued that most of these studies unknowingly adopted a mixture of classical and neoclassical theory, leading to three types of confusions. First, over what measure of profitability is...

A long-run tendency of industry profit rates to converge to a single competitive level has been a fundamental tenet of the industrial organization approach to the study of competitiveness in a market economy. This paper shows that for the post-World War II period a weak equalization can be...

This paper attempts to show that inadequate levels of profitability played an important role in the onset of the Great Depression. Three popular alternative views of the crash are first criticized: the Monopoly View, the Underconsumption Theory, and the Monetarist Explanation. In our opinion,...

[eng] There has been a dramatic fall in the rate of profit in the United States since worid war II. The profile of this fall is discribed through the findings of the numerous studies of this issue now available. The point of departure following world war II is a high point of profitability. The...

This article analyzes the theoretical foundations of industrial organization studies of monopolistic and competitive pricing. Our analysis will focus on the central debates of the 1950s, 1960s, and 1970s which formed the theoretical basis of the modern industrial organization paradigm. We will...