Your email address will be used for Wildy’s marketing materials only. We will never give your email address to any third party. You may opt out at any time by following the unsubscribe link included in every email.
Special Discounts for Newly Called & Students
Browse Secondhand Online
Wildy's will be closed on Monday 28th May, re-opening on Tuesday 29th.
Online book orders received during the time we are closed will be processed as soon as possible once we re-open on Tuesday.
As usual credit cards will not be charged until the order is processed and ready to despatch.
Any Sweet & Maxwell or Lexis eBook orders placed after 4pm on the Friday 25th May will not be processed until Tuesday May 29th. UK orders for other publishers will be processed as normal. All non-UK eBook orders will be processed on Tuesday May 29th.
Once the order is confirmed an automated e-mail will be sent to you to allow you to download the eBook.
All eBooks are supplied firm sale and cannot be returned. If you believe there is a fault with your eBook then contact us on email@example.com and we will help in resolving the issue. This does not affect your statutory rights.
What drives popular support for state-enforced competition policy? What is it about antitrust law that garners approval from both the public and courts, to the point of demonizing large firms convicted of antitrust offenses?
In this book Adi Ayal argues that the populist roots of antitrust are still with us, guiding sentiment towards a legal regime that has otherwise shifted towards economic analysis. Antitrust is very much about fairness and morality; this book assesses how modern policy has hijacked popular support - based on traditional conceptions of political and economic power - to combat market power in narrowly defined micro-markets.
Beginning with history, but delving into moral and political philosophy, professor Ayal shows how arguments concerning fairness in antitrust, applied both to monopolists and their victims, require a balancing test based on context and respecting the rights of both.
While traditionally fairness arguments were used to justify intervention where economic analysis did not, this book assesses them from first principles, to show that pure efficiency analysis is flawed from a moral standpoint when the state intervenes. Protecting weak consumers from strong monopolists may carry rhetorical weight, but the reality of antitrust is that the state is much more powerful than almost all firms it regulates.
Antitrust intervention is thus assessed from two standpoints: fairness towards distinct groups (both consumers and monopolists) and protection of society at large. The first raises issues with the common assumption of consumer-centrality. The second raises the dormant issue of economic power, where firms' influence grows larger than that of the state, and democratic principles require intervention even where efficiency does not.
Protecting the strong from the weak, especially when 'weak' consumers hold legal power and influence, might very well be a moral imperative.