The antitrust paradox

First published in 1978, this study by a prominent American jurist reshaped how courts approach the government's place in commercial life. This edition adds a fresh introduction and epilogue from the author. Its central claim is that antitrust litigation can end up hurting shoppers, because it props up small firms that are inefficient and fail to compete, and it does so at considerable expense.

The author, a Yale law professor who later served as Solicitor General and sat on the federal appeals bench, traces how his approach to antitrust has shaped both the reading and the enforcement of the law. He argues that the law's aims and credibility can be undermined by people who misunderstand the economic realities it governs, or who want it to pursue political and social goals it was never meant to serve.