About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

62 N.Y.U. L. Rev. 936 (1987)
Antitrust--Retrospective and Prospective: Where Are We Coming from--Where Are We Going

handle is hein.journals/nylr62 and id is 952 raw text is: ANTITRUST-RETROSPECTIVE AND PROSPECTIVE: WHERE ARE WE COMING FROM? WHERE ARE WE GOING? ELEANOR M. Fox* LAWRENCE A. SULLIVAN** INTRODUCTION As antitrust enters the final years of its first century, we take stock. What are the origins of the law? Where is it now, and where is it going? What pressing questions will antitrust address as it enters its second cen- tury? Will it be equal to the task? Such an assessment of antitrust requires a response to its critics. There are those who see antitrust law as overshadowed by world compe- tition or laid to rest by Chicago School economics. We do not. Anti- trust, like other aspects of economic law, has always been influenced by cohesive as well as ad hoc economic and political theories. Because views have varied, changed, and developed over time, antitrust is infused with tension. It is out of such tension that traditional antitrust law has grown and developed, enriched by insights of both its critics and support- ers. This developmental process has not been one of sharp swings from one extreme view to another; rather, it has involved case-by-case adapta- tion to new or ascendant insights, to new situations, and to new forms and pressures of competition. As long as this mode of cautious change is maintained, antitrust will enter its second century equipped to deal with the problems that will confront it. Antitrust law's persistent strength flows from two sources. First, unlike some commentators and a few judges who seek to remake the antitrust law, most courts that apply the antitrust laws have not forgot- ten what the body of law is about. Antitrust is rooted in a preference for pluralism, freedom of trade, access to markets, and freedom of choice. All of these values contribute to the laws' summarizing norm-a com- mitment to the maintenance of competitive process.1 Second, the law * Professor of Law, New York University. A.B., 1956, Vassar College; LL.B., 1961, New York University. The Filomen D'Agostino and Max E. Greenberg Research Fund generously provided research support, and C. Peck Hayne provided valuable research assistance. ** Earl Warren Professor of Public Law, Boalt Hall School of Law, University of Califor- nia, Berkeley. B.A., 1948, University of California, Los Angeles; J.D., 1951, Harvard University. 1 See, e.g., H. Thorelli, The Federal Antitrust Policy: Origination of an American Tradi- tion 108-63 (1954); Letwin, Congress and the Sherman Antitrust Law: 1887-1890, 23 U. Chi. 936 Imaged with the Permission of N.Y.U. Law Review

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most