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US Antitrust Law: Model and Lens

David J. Gerber

in Global Competition: Law, Markets, and Globalization

This chapter explores US anti-trust law experience and its influence on thought, expectations, and interpretations of competition law around the world. US anti-trust law has been at the center of ... More

This chapter explores US anti-trust law experience and its influence on thought, expectations, and interpretations of competition law around the world. US anti-trust law has been at the center of competition law development since the end of World War II, and it continues to play the central role in global competition law development. In particular, the centrality of neo-classical economics in US anti-trust law is a controversial and critically important issue for many. Countries everywhere have looked to US law in shaping their own competition law decisions. Moreover, it is the lens through which US officials, scholars, and practitioners have viewed competition law in other countries and on the global level, and this further enhances the need for others and for the US anti-trust community to understand that lens and its influence.Less

American Occupation, Market Order, and Democracy: Recomposing the Steel Industry in Japan and Germany After World War II

Gary Herrigel

in Manufacturing Possibilities: Creative Action and Industrial Recomposition in the United States, Germany, and Japan

The chapter analyzes the interaction of American Military Occupying authorities in Germany and Japan with indigenous stakeholders in the steel industry. German and Japanese steel industries are ... More

The chapter analyzes the interaction of American Military Occupying authorities in Germany and Japan with indigenous stakeholders in the steel industry. German and Japanese steel industries are radically recomposed through processes of creative reflection and interaction among all the playersLess

Contrasting Forms of Coordination in the Steel Industry: Germany, Japan, and the United States (1950–74)

Gary Herrigel

in Manufacturing Possibilities: Creative Action and Industrial Recomposition in the United States, Germany, and Japan

The chapter outlines the extensive mechanisms of coordination that governed the steel industry in the US, Germany and Japan between 1950-1974. All three industries shared a propensity for ... More

The chapter outlines the extensive mechanisms of coordination that governed the steel industry in the US, Germany and Japan between 1950-1974. All three industries shared a propensity for coordination over market mechanisms in industry governance, though they utilized different forms of coordination. The chapter debunks the Varieties of Capitalism idea that industry in the US is primarily organized by firms and arms length market relations. All three cases are examples of coordinated capitalism. But they coordinate in different ways.Less

Left for Dead? The Recomposition of the Steel Industries in Germany, Japan, and the United States Since 1974

Gary Herrigel

in Manufacturing Possibilities: Creative Action and Industrial Recomposition in the United States, Germany, and Japan

The chapter compares emergence of minimills in Germany, Japan and the US, along with the recomposition of the Integrated Steel Mill sector. Steel production as an industrial activity in each of the ... More

The chapter compares emergence of minimills in Germany, Japan and the US, along with the recomposition of the Integrated Steel Mill sector. Steel production as an industrial activity in each of the societies, especially in the United States, is radically reconceived, but continues to be successful in each country. Again, in contrast to the claims of Varieties of Capitalism, the American steel industry proves adept at both gradual and radical innovation, as do the German and Japanese industries.Less

Antitrust Analysis in High Technology Industries *

David J. Teece

in Managing Intellectual Capital: Organizational, Strategic, and Policy Dimensions

Anti‐trust economics has not sufficiently recognized the nature of competition and innovation in high‐technology industries, the evolution of those industries and the implications for public policy. ... More

Anti‐trust economics has not sufficiently recognized the nature of competition and innovation in high‐technology industries, the evolution of those industries and the implications for public policy. This chapter presents some conceptual frameworks and methods for understanding, in particular, issues of monopoly and monopolization. Understanding issues such as the nature of technological change, competition, barriers to entry, and market power are important for anti‐trust policy. Without understanding the limitations of the existing analytical tools for analysing the economics of innovation, antitrust agencies may harm competition in high‐tech industries.Less

Towards Deeper Integration? The ‘Trade and’ Agenda

Bernard M. Hoekman and Michel M. Kostecki

in The Political Economy of the World Trading System: WTO and Beyond

The general issue of dealing with ’behind the border’ regulation is discussed in the WTO (World Trade Organization) context, and an introduction provided to the main issues that are likely to be ... More

The general issue of dealing with ’behind the border’ regulation is discussed in the WTO (World Trade Organization) context, and an introduction provided to the main issues that are likely to be prominent on the multilateral negotiating agenda in the coming decade. A key question is to identify the rationale for––and objectives behind––proposals to address a specific issue in the WTO, and determine what type of cooperation is appropriate, if any. Various issues that are likely to be on the negotiating agenda for some time to come, including competition (anti‐trust) policy, labour standards, trade facilitation, and investment and environmental policies, are discussed. The sections of the chapter are as follows: Contestability of markets as a criterion; Foreign direct investment policies; Competition law; Trade facilitation; Environmental policies; Social policies and labour standards; Domestic regulation; and Conclusion.Less

The Modern Liberal Regulatory Agenda

N. Scott Arnold

in Imposing Values: Liberalism and Regulation

This chapter identifies what is called “the modern liberal regulatory agenda,” which consists of the various regulatory regimes that modern liberals favor and classical liberals oppose. The first ... More

This chapter identifies what is called “the modern liberal regulatory agenda,” which consists of the various regulatory regimes that modern liberals favor and classical liberals oppose. The first section distinguishes economic from noneconomic regulation. The former includes rate regulation, regulation of entry and exit, anti-trust law, and wage and price controls. It is argued that the traditional disputes between modern liberals and classical liberals about economic regulation have become significantly attenuated over the past few decades, and the disagreements that remain are relatively narrow. By contrast, differences about noneconomic regulation remain profound. For this reason, the modern liberal regulatory agenda, as this chapter defines it, is about noneconomic regulation. That agenda is culled from the discussion in Chapter 3 about classical and modern liberal attitudes about restrictions on property rights. It covers three broad areas: the employment relation, health and safety regulation, and land use regulation.Less

Fraud at Major Hospitals: Profits at Any Cost, Part One

Terry L. Leap

in Phantom Billing, Fake Prescriptions, and the High Cost of Medicine: Health Care Fraud and What to Do about It

This chapter examines frauds instigated by major hospitals. A company's fixation on financial performance, especially bottom-line profits and stock market prices, may lead to overcharges, false ... More

This chapter examines frauds instigated by major hospitals. A company's fixation on financial performance, especially bottom-line profits and stock market prices, may lead to overcharges, false billings, upcoding, and kickbacks as well as accounting and financial fraud. Accounting fraud occurs when accounting documents and journal entries are manipulated to hide the embezzlement or the misappropriation of funds. Accounting fraud also forms the foundation for financial fraud. This chapter considers three cases of health care fraud and abuse involving Tenet Healthcare Corporation, the Hospital Corporation of America, and HealthSouth. It also discusses anti-trust violations that drive up costs and reduce the quality of health care, with particular attention to frauds committed by both large and small health care institutions. The chapter concludes with an analysis of organized crime's involvement in health care fraud.Less

Fraud in the Pharmaceutical, Medical Equipment, and Supply Industries: Profits at Any Cost, Part Two

Terry L. Leap

in Phantom Billing, Fake Prescriptions, and the High Cost of Medicine: Health Care Fraud and What to Do about It

This chapter examines frauds instigated by pharmaceutical companies as well as the medical supply and equipment industry. It first considers how large-scale frauds occur in the pricing, marketing, ... More

This chapter examines frauds instigated by pharmaceutical companies as well as the medical supply and equipment industry. It first considers how large-scale frauds occur in the pricing, marketing, and distribution of prescription drugs. It then analyzes various forms of pharmaceutical fraud, such as switching drug prescriptions to exploit Medicaid reimbursement rules. It also looks at pharmaceutical frauds committed by TAP Pharmaceutical Products, Serono, Purdue Frederick Company and Purdue Pharma, and Schering-Plough Corporation; how fraud may arise from physicians' consulting relationships with pharmaceutical and medical equipment manufacturers; and anti-trust violations in the pharmaceutical and medical equipment industries. Finally, it discusses the high costs involved in health care fraud settlements and prosecutions.Less

Digital Monopolies

Maurizio Borghi and Stavroula Karapapa

in Copyright and Mass Digitization

Companies and institutional users who have invested in digitizing copyright works — and have made a continuous and uninterrupted use of them — may have an interest in continuing with this use, even ... More

Companies and institutional users who have invested in digitizing copyright works — and have made a continuous and uninterrupted use of them — may have an interest in continuing with this use, even after the rightholder has appeared to oppose to it. Such digital monopolies may be created through prolonged use, by law or by contract. However, they may be defeated through principles that are external to copyright, such as antitrust and competition law.Less

Postscript

Max Alvarez

in The Crime Films of Anthony Mann

The final chapter provides an overview of Anthony Mann’s life and career between 1951 and his premature death in 1967. The changes in the film industry as a result of anti-trust legislation, ... More

The final chapter provides an overview of Anthony Mann’s life and career between 1951 and his premature death in 1967. The changes in the film industry as a result of anti-trust legislation, television, and the Hollywood blacklist, are documented as well as Mann’s collaboration with James Stewart on an acclaimed series of westerns and the director’s eventual gravitation towards such expensive epics as El Cid and Fall of the Roman Empire in the 1960s. During this time there were projects Mann pursued that would have returned him to the crime fold: The Ceremony (which Laurence Harvey finally directed), The Great Train Robbery (made as Robbery by Peter Yates), and the unfilmed J.B. Priestley spy novel The Shapes of Sleep. Dramatically, the film Mann was directing at the time of his death was his first contemporary thriller since Side Street – A Dandy in Aspic (completed by the film’s star, Laurence Harvey).Less

“Hell Is Empty and All the Devils Are Here”

Larry Haeg

in Harriman vs. Hill: Wall Street's Great Railroad War

Northern Pacific common rises to $1,000 a share May 9, 1901, Hill-Morgan and Harriman-Schiff agree to $150 a share settlement price for the common to relieve the squeeze on the shorts. The market’s ... More

Northern Pacific common rises to $1,000 a share May 9, 1901, Hill-Morgan and Harriman-Schiff agree to $150 a share settlement price for the common to relieve the squeeze on the shorts. The market’s winners and the losers.Less

Northern Insecurities

Larry Haeg

in Harriman vs. Hill: Wall Street's Great Railroad War

Morgan returns from Europe to broker compromise. Vice President Roosevelt gives “big stick” speech at Minnesota State Fair and becomes President two weeks later after KcKinley is murdered in Buffalo.

The “Big Stick”

Larry Haeg

in Harriman vs. Hill: Wall Street's Great Railroad War

Roosevelt profile, Morgan announces creation of Northern Securities to house controlling shares of Great Northern and Northern Pacific and prevent future Harriman raids on the Northern Pacific. ... More

Roosevelt profile, Morgan announces creation of Northern Securities to house controlling shares of Great Northern and Northern Pacific and prevent future Harriman raids on the Northern Pacific. Roosevelt gives his first a message to Congress and threatens government supervision of large corporations, using Northern Pacific panic as springboard.Less

A Thunderbolt Out of the Blue

Larry Haeg

in Harriman vs. Hill: Wall Street's Great Railroad War

U.S. sues to break up Northern Securities as violation of Sherman Act prohibiting restraint of trade. U.S. Circuit Court rules uaninmously against Northern Securities. Hill-Morgan appeal to U.S. ... More

U.S. sues to break up Northern Securities as violation of Sherman Act prohibiting restraint of trade. U.S. Circuit Court rules uaninmously against Northern Securities. Hill-Morgan appeal to U.S. Supreme Court.Less

Great Cases and Bad Law

Larry Haeg

in Harriman vs. Hill: Wall Street's Great Railroad War

U.S. Supreme Court rules 5-4 against Northern Securities, Hill-Morgan return Great Northern and Northern Pacific shares pro rata to original shareholders.

Epilogue: The Last Corner

Larry Haeg

in Harriman vs. Hill: Wall Street's Great Railroad War

Seven decades of stifling government railroad regulation and government subsidization of commercial aviation, trucking, and inland water transport. 1970 Supreme Court rules unanimously to allow Great ... More

Seven decades of stifling government railroad regulation and government subsidization of commercial aviation, trucking, and inland water transport. 1970 Supreme Court rules unanimously to allow Great Northern, Northern Pacific and Burlington to merge, thereby overturning the 1904 5-4 decision against merger. Railroads become the last major U.S. transport industry to be deregulated. Warren Buffett’s Berkshire Hathaway buys BNSF, the Hill legacy lines. American railroad freight system remains the world’s most successful such system and is the only entirely private run system in the world.Less