Bonus Quotation of the Day…

by Don Boudreaux on May 2, 2022

in Antitrust

… is from page 7 of Dominick Armentano’s excellent 1986 monograph, Antitrust Policy: The Case for Repeal:

[T]he enforcement of the antitrust laws is predicated on the mistaken assumption that regulators and the courts can have access to information concerning social benefits, social costs, and efficiency that is simply unavailable in the absence of a spontaneous market processes. Antitrust regulation is often a subtle form of industrial planning, and is fully subject to the pretense-of-knowledge criticism frequently advanced against government planning.

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