Sunday, 25 September 2016

When antitrust runs amok: bulletin board material

Timothy Taylor at the Conversable Economist blog posted this cartoon from Dale Everett at the Anarchy In Your Head website in 2008:

An interesting cartoon given this quote from 1981 about why Ronald Coase gave up teaching antitrust:
“Ronald [Coase] said he had gotten tired of antitrust because when the prices went up the judges said it was monopoly, when the prices went down they said it was predatory pricing, and when they stayed the same they said it was tacit collusion.”

–William Landes quoted in Edmund W. Kitch, “The Fire of Truth: A Remembrance of Law and Economics at Chicago, 1932-1970”, Journal of Law and Economics 26(1) (Apr., 1983) p. 193.

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