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Discussing the economic article "Use of Antitrust to Subvert Competition", the authors William J. Baumol and Janusz A. Ordover argue the effectiveness of antitrust institutions and the impacts of their activities.
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In the economic article "Use of Antitrust to Subvert Competition", the authors William J. Baumol and Janusz A. Ordover argue the effectiveness of antitrust institutions and the impacts of their activities. The authors make claim to possible abuse of the antitrust process by firms and detail the subsequent effects that can result to impede competition, efficiency and productivity growth. The concept of rent seeking is prevalent throughout the article and is referred as the endeavor by entrepreneurs to secure monopoly profits. The authors outline the methods adopted by rent seekers in seeking protection through antitrust laws in a manipulative attempt to subvert competition and gain monopoly profits within their respective industry. The economic costs and social costs are rampant throughout the paper and act as the motivation for this argument. The authors also make note of the trade-offs that antitrust institutions and rent seekers alike need to consider when undertaking...
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