Authors: Walter Adams, James W. Brock
ISBN-13: 9780804749695, ISBN-10: 0804749698
Format: Paperback
Publisher: Stanford University Press
Date Published: April 2004
Edition: 2nd Edition
The late Walter Adams was President and Distinguished Professor of Economics at Michigan State University. James W. Brock is the Moeckel Professor of Economics at Miami University in Oxford, Ohio. Adams and Brock have also co-authored The Tobacco Wars, The Structure of American Industry, Antitrust Economics on Trial, Adam Smith Goes to Moscow, and Dangerous Pursuits: Mergers and Acquisitions in the Age of Wall Street.
This new edition has a thoroughly updated variety of issues, examples, and new developments, including government bailouts of the airline industry; regulation of biotechnology; the fiasco of recent electricity deregulation; and mergers and consolidations in oil, radio, and grocery retailing. The analysis is framed in the timeless context of American distrust of concentrations of power.
List of tables and charts | ||
Preface | ||
Pt. I | The problem of power | 1 |
1 | Power and public policy | 3 |
2 | Economists and power | 11 |
Pt. II | The apologetics of power | 23 |
3 | Operating efficiency | 29 |
4 | Innovation efficiency | 46 |
5 | Social efficiency | 63 |
Pt. III | The political economy of power : a historical perspective | 77 |
6 | The revolution of 1776 : American government | 79 |
7 | The revolution of 1776 : British economic policy | 88 |
Pt. IV | Competition and the control of power | 95 |
8 | The role of antitrust | 97 |
9 | Cartels | 105 |
10 | Monopoly | 123 |
11 | The merger problem | 144 |
12 | Horizontal mergers and joint ventures | 153 |
13 | Vertical mergers | 164 |
14 | Conglomerate mergers | 174 |
15 | The limitations of antitrust | 184 |
Pt. V | Government intervention and private power | 201 |
16 | The regulation of power | 203 |
17 | Airlines : regulation and deregulation | 209 |
18 | The limits of deregulation | 222 |
19 | The protection of power | 237 |
20 | The bailout of power | 253 |
Pt. VI | The coalescence of power | 269 |
21 | The labor-industrial complex | 272 |
22 | The "sport-industrial" complex | 284 |
Pt. VII | Public policy alternatives | 299 |
23 | The neo-darwinist vision | 301 |
24 | The neoliberal vision | 308 |
25 | A public philosophy | 316 |
Notes | 327 | |
Index | 379 |