- Cafe Hayek - http://cafehayek.com -
Quotation of the Day…
Posted By Don Boudreaux On March 6, 2013 @ 7:37 am In Antitrust,Books,Competition | Comments Disabled
… is from page 71 of the original, 1982 edition of Dominick Armentano’s superb but regrettably neglected volume Antitrust and Monopoly: Anatomy of a Policy Failure :
Efficiency is always exclusionary of less efficient competitors, but such exclusions are the very purpose of a competitive process.
(I would have said instead that “such exclusions are one of the very purposes of a competitive process,” but the importance of Armentano’s point stands.)
In the late 1980s I met the Columbia University economist Donald Dewey , and became pretty good friends with him and his wife, Ruth, until his death in 2002. Don was one of the 20th-century’s leading scholars in the field of industrial organization and antitrust. Although not especially political – it just wasn’t his style – I heard Don on several occasions lament the fact that Armentano’s Antitrust and Monopoly goes largely overlooked by antitrust scholars. Don regarded Dom’s book as a genuinely path-breaking contribution. In this assessment, as in so many others, Don was correct.
Article printed from Cafe Hayek: http://cafehayek.com
URL to article: http://cafehayek.com/2013/03/quotation-of-the-day-566.html
URLs in this post:
 Antitrust and Monopoly: Anatomy of a Policy Failure: http://www.amazon.com/Antitrust-Monopoly-Anatomy-Independent-Political/dp/0945999623/ref=sr_1_1?s=books&ie=UTF8&qid=1362573297&sr=1-1&keywords=dominick+armentano+antitrust+and+monopoly
 Donald Dewey: http://econ.columbia.edu/donald-dewey-1922-2002
 Image: http://www.blinklist.com/index.php?Action=Blink/addblink.php&Url=http%3A%2F%2Fcafehayek.com%2F2013%2F03%2Fquotation-of-the-day-566.html&Title=Quotation%20of%20the%20Day...
 Tweet: https://twitter.com/share
Copyright © 2011 CafeHayek.com. All rights reserved.