TABLE OF CØNTENTS
Page
PREFACE
EDITORIAL NOTE
ACKNOWLEDGEMENTS
TABLE OF CASES

CHAPTER I. BACKGROUND
A.THE COMMON LAW OF THE RESTRAINT OF TRADE
The Case of Monopolies
An Introduction to the Theory of Monopoly
The Real Issue in the Case of Monopolies
An Act Against Regrators, Forestailers, and Ingrossers
Questions
Mitchel v. Reynolds
Notes and Questions
The Common Law on the Eve of the Sherman Act

B.THE ANTITRUST STATUTES
Introduction
Sherman Antitrust Act
Notes
Clayton Act
Notes
Federal Trade Commission Act
Notes

C. THE JURISDICTIONAL REACH OF THE ANTITRUST LAWS
1. Interstate Commerce
United States v. E. C. Knight Co.
Notes
United States v. Sàuth-Eastern Underwriters Ass'n
Notes and Questions
Mandevilie Island Farms, Inc. v. American Crystal Sugar Co.
Notes and Questions
Burkev. Ford
Questions
Gulf Oil Corp. v. Copp Paving Co
Notes and Questions
McLain v. Real Estate Board of New Orleans, Inc.
Questions

CHAPTER I. BACKGROUND—Continued Pega
2.Foreign Com merce
Introduction
American Banana Co. v. United Fruit Co -United States v. Sisal Sales Corp.
Continental Ore Co. v. Union Carbide & Carbon Corp
Mannington Mills, Inc. v. Congoleum Corp.
The Extent of Foreign Commerce Jurisdiction
1.The existence of an effect on commerce
a.Foreign monopolies
b.Transportation
e.Exports
d.Joint ventures, patents, and sales territories
2.The selection of a standard: how much commerce must be affected?
3.Antitrust and respect for foreign law
4.Personai jurisdiction
5.Remedies

CHAPTER II. CARTELS
A. THE EVOLUTION OF THE RULE AGAINST PRICE FIXING
United States v. Trans-Missouri Freight Ass'n
The Early Enforcement of the Sherman Act
The Economics of Cartelization
Price Discrimination: An Introduction
Price Fixing in the Raiiroad Industry
"Ruinous Competition"
Questions on the Trans-Missouri Case
United States v. Addyston Pipe & Steel Co.
Notes and Questions
Price Fixing in Auction Markets
United States v. Trenton Potteries Co.
Notes and Questions
Are Cartels Ever Justifiable?
Appalachian Coals, Inc. v. United States
Notes and Questions
Antitrust Policy in the Depression
United States v. Socony-Vacuum Oil Co.
Questions
Broadcast Music, Inc. v. Columbia Broadcasting System, Inc.
Notes and Questions
Two Part Pricing
National Macaroni Manufacturers Ass'n v. FTC
Questions

CHAPTER II. CARTELS—Continued
Monopsony
The Effects of the Rule Against Price Fixing
B. INTERLUDE: THE GOALS OF ANTITRUST LAW
Introduction
Richard A. Posner, Antitrust Law: An Economic Perspective
F. M. Scherer, Book Review
Robert Pitofsky, The Political Content of Antitrust
Robert H. Bork, The Antitrust Paradox: A Policy at War with Itself
Notes and Questions
C.THE PROBLEM OF CHARACTERIZATION
1.Informational Activities
Board of Trade of City of Chicago v. United States
Notes and Questions
American Column & Lumber Co. v. United States
Questions
Maple Flooring Mfgrs.' Ass'n v. United States
Notes and Questions
United States v. Container Corp. of America
Notes and Questions
Information, Competition, and Coilusion
United States v. United States Gypsum Co.
Notes and Questions

2.Restrictions on Competition in the Distribution of Goods
Dr. Miles Medical Co. v. John D. Park & Sons Co.
Notes and Questions
The Economics of Resale Price Maintenance
United States v. Colgate & Co.
Notes and Questions
United States v. General Electric Co.
Notes and Questions
Simpson v. Union Oil Co. of California
Notes and Questions
Albrecht v. Herald Co.
Notes and Questions
White Motor Co. v. United States
Notes and Questions
United States v. Arnold, Schwinn & Co.
Notes and Questions
The Free-Rider Problem in the Sealy and Topco Cases
Continental T.V., Inc. v. GTE Sylvania Inc.
Notes and Questions
What Is the Rule of Reason?

CHAPTER II. CARTELS—Contjnued
3. Patent Licenses
Patents and Antitrust
The Rationale of Patent Protection
United States v. General Electric Co.
Why Did General Electric License Westinghouse?
Standard 0i1 Co. (Indiana) v. United States
Patent Licensing and Collusion
United States v. Masonite Corp.
Notes and Questions
United States v. Line Material Co.
Notes and Questions
4. Exercising the Right to Petition Government
Eastern Railroad Presidents Conference v. Noerr Motor Freight, Inc.
Note
California Motor Transport Co. v. Trucking Unlimited –
Notes and Questions
Woods Exploration & Producing Co. v. Aluminum Co. of America
Notes and Questions
D. PROOF OF AGREEMENT
Is Proof of Agreement Required?
Interstate Circuit, Inc. v. United States
Notes and Questions
American Tobacco Co. v. United States
Behavior of a Monopolist Confronted with Falling Costs and Demands
Antitrust as a Crime
1. Sanctions
2. Intent
Theatre Enterprises, Inc. v. Paramount Film Distributing
Corp
Notes and Questions
Conscious Parallelism, Oligopoly Pricing, and the Nature of
Agreement
The Basing-Point Cases

CHAPTER III. MARKET DEFINITION AND MARKET
POWER: AN INTRODUCTION TO THE
"POWER OFFENSES"
Economic Analysis
United States v. E.I. Du Pont De Nemours & Co.
Cross-Elasticity of Demand
Questions
Brown Shoe Co. v. United States
Notes and Questions
United States v. Aluminum Co. of America


CHAPTER III. MARKET DEFINITION AND MARKET POWER: AN INTRODUCTION TO THE
"POWER OFFENSES"—Continued
Questions
Telex Corp. v. International Business Machines Corp.
Notes and Questions
Tampa Electric Co. v. Nashville Coal Co.
Notes and Questions
Brief for the United States in United States v.
Pabst Brewing Co.
Notes and Questions
United States v. Pabst Brewing Co
Questions
Department of Justice Merger Guidelines
Notes

CHAPTER IV. MERGERS OF COMPETITORS
A. MERGERS TO MONOPOLY
Northern Securities Co. v. United States
Contract versus Fusion as Methods of Eliminating Competi-
Tion
Questions on the Northern Securities Case
The Factual Premises and Aftermath of the Northern Secur-
ities Decision
Standard Oil Co. of New Jersey v. United States
Questions
The Standard Oil Case and the Concept of Monopolization
The Standard Oil Decree and Its Aftermath
United States v. United States Steel Corp
Questions
The Theory of the Dominant Firm
Antitrust Policy and the Merger-to-Monopoly Movement:
Some Conjectures

B.OTHER HORIZONTAL MERGERS
1. Enforcement Prior to the 1950 Amendments to Section 7 of the Clayton Act Introduction
United States v. Columbia Steel Co.
Notes and Questions
2. The Search for a Standard Under the Amended Section 7 of the Clayton Act
Brown Shoe Co. v. United States
Notes and Questions
Why Mergers And Why an Antimerger Law?
United States v. Philadelphia National Bank

CHAPTER IV. MERGERS OF COMPETITORS—Continued
Notes and Questions
United States v. Von's Grocery Co.
Notes and Questions
Brief for the United States in United States v. Von's
Grocery Co.
Ease of Entry into the Retail Grocery Business
Question
The Merger Law and the Protection of Small Business
Department of Justice Merger Guidelines
Notes and Questions
The Guidelines' Criteria of lilegality for Horizontal
Mergers: A Critique
United States v. General Dynamics Corp.
Questions
The Failing-Company Defense
United States v. Citizens and Southern National Bank
Notes and Questions
3.The Definition of Competition
United States v. El Paso Natural Gas Co.
Competition for the Market
The El Paso Sequence
Consent Judgments
United States v. First National Bank and Trust Co. of
Lexington
Notes and Questions
The Bank Merger Act of 1966
Automatic Stays of Mergers
United States v. Continental Can Co.
Notes and QuestiÓns
Does Monopoly Retard Innovation?
Federal Trade Commission v. Procter & Gambie Co
Notes and Questions
Barriers to Entry
The Significance of Potential Competition
United States v. Penn-Olin Chemical Co.
Notes and Questions
United States v. Marine Bancorporation, Inc.
Notes and Questions
Problems of Remedy in Merger Cases

CHAPTER V. THE PRIVATE ENFORCEMENT OF THE ANTITRUST LAWS
A. THE RISE OF THE PRI VATE ACTION
B. WHO CAN BRING SUIT, AND FOR WHAT HARMS?
1. Who Is a "Person"?

CHAPTER V. THE PRI VATE ENFORCEMENT OF THE
ANTITRUST LAWS—Continued
2.What Is "Business or Property"?
Hawaii v. Standard Oil Co. of California
Reiter v. Sonotone Corp.
Notes and Questions
The Private Enforcement of Legal Rules
3.The Concept of Antitrust Injury
Brunswick Corp. v. Pueblo Bowl-O-Mat, Inc.
Notes and Questions
The Proper Measure of Damages
4.The Requirement of Direct Injury
Hanover Shoe, Inc. v. United Shoe Machinery Corp.
Questions
The Economics of the Passing-On Defense
"Offensive Passing On"
Brief for the United States in Illinois Brick Co. v. Illinois
Illinois Brick Co. v. Illinois
Notes and Questions
The Consequences of Awarding Full Recovery to Direct Victins
5.Injunctions and Divestiture
International Telephone & Telegraph Corp. v. General
Telephone & Electronics Corp.
Notes and Questions
6.Contribution Among Defendants
Professionai Beauty Supply, Inc. v. National Beauty Suppiy, Inc.
Notes and Questions
Contribution, Deterrence, and Settlement
7.Antitrust Violations as a Defense
Perma Life Mufflers, Inc. v. International Parts Corp.
Notes and Questions
Other Antitrust Defenses
C.PROCEDURE IN ANTITRUST CASES
1.Class Actions and Parens Patriae Suits
2. The Costs of Antitrust Litigation
3. The Statute of Limitations
4. Colateral Estoppel

CHAPTER VI. EXCLUSIONARY PRACTICES
A. MONOPOLIZATION AND ATTEMPTED MONOPOLIZATION UNDER SECTION 2 OF THE SHERMAN ACT
Introduction
Eastman Kodak Co. of New York v. Southern
Photo Materials Co.

CHAPTER VI. EXCLUSIONARY PRACTICES—Contjnued
Questions
United States v. Aluminum Co. of America
Notes and Questions
The Monopolization of Durable Goods
The Remedy in the Aluminum Case
United States v. United Shoe Machinery Corp.
Notes and Questions
The Exclusionary Practices in the Shoe Machinery Case
The Remedy in the Shoe Machinery Case
United States v.Grinnell Corp.
Notes and Questions
Berkey Photo, Inc. v. Eastman Kodak Co.
Notes and Questions
Waiker Process Equipment, Inc.v. Food Machinery &
Chemical Corp.
Notes and Questions
United States v. Empire Gas Corp
Petition for a Writ of Certiorari in United States v. Empire
Gas Corp.
Notes and Questions
PREDATORY PRICING
Introduction: The Economics of Predatory Pricing
Utah Pie Co. v. Continental Baking Co.
Notes and Questions
Pricing and Competitive Equilibrium
Telex Corp. v. International Business Mach. Corp.
Notes and Questions
Recoupment
Pacific Engineering & Production Co. v. Kerr-McGee Corp.
Notes and Questions
BOYCOTTS AND REFUSALS TO DEAL
Eastern States Retail Lumber Dealers' Ass'n
v.United States
Questions
The Economics of the Eastern States Boycott
Fashion Originators' Guild of America v. Federal Trade
Commission
Notes and Questions
Could the Guild's Boycott Work?
Kiefer-Stewart Co. v. Joseph E. Seagram & Sons
Notes and Questions
Intra-Enterprise Conspiracy
Klor's, Inc. v. Broadway-Hale Stores, Inc
Questions
Retail Boycotts and Free Riding

CHAPTER VI. EXCLUSIONARY PRACTICES—Continued
Are Boycotts lilegal Per Se?
United States v. Parke, Davis and Co.
Questions
United States v. General Motors Corp.
Notes and Questions
Dealer and Distributor Terminations
Lorain Journal Co. v. United States
Notes and Questions
United States v. Terminal Railroad Ass'n of St. Louis
Questions and Note
"Regulatory" Decrees in Antitrust Cases
Associated Press v. United States
Notes and Questions
Property Rights in News: The Unrecognized Issue in the
Associated Press Case
Silver v. New York Stock Exchange
Notes and Questions
D. TYING ARRANGEMENTS AND RELATED PRACTICES 777
Henry v. A.B. Dick Co.
Notes and Questions
Motion Picture Patents Co. v. Universal Film Mfg. Co.
Question
Carbice Corp. of America v. American Patents Development
Corp.
Notes and Questions
Mercoid Corp. v. Mid-Continent Inv. Co.
Questions
International Business Machines Corp. v. United States
Questions
International Salt Co. v. United States
Questions
Moore v. Jas. H. Matthews & Co.
Questions
Theories of Tie-Ins
Zenith Radio Corp. v. Hazeltine Research, Inc.
Questions
The Economics of End-Product Royalties
Times-Picayune Pub. Co. v. United States
Northern Pacific Railway Co. v. United States
Notes and Questions
United States v. Loew's, Inc.
Questions
A Theory of Block Booking
Fortner Enterprises, Inc. v. United States Steel Corp.
Notes and Questions
Posner & Eastorbrook-Antltnjst Lsw ACB-2

CHAPTER VI. EXCLUSIONARY PRACTICES—Contjnued Page
Warriner Hermetics, Inc. v. Copeiand Refrigeration Corp
Notes and Questions
Kentucky Fried Chicken Corp. v. Diversified Packaging Corp
Questions
845 Bogosian v. Gulf 0i1 Corp
845 Notes and Questions
Federal Trade Commission v. Consolidated Foods Corp
Notes and Questions
The Economics of Reciprocal Buying
Are Firms Really Profit Maximizers?
E. VERTICAL INTEGRATION AND EXCLUSIVE DEALING 857
Foreclosure
United States v. Columbia Steel Co.
Notes and Questions
United States v. E.I. Du Pont De Nemours & Co.
Questions
The Economics of Vertical Integration
Standard Oil Co. of California v. United States
Notes and Questions

Exclusive Dealing
Tampa Eiectric Co. v. Nashville Coal Co.
Notes and Questions
Brown Shoe Co. v. United States
Notes and Questions
Federal Trade Commission v. Brown Shoe Co
Questions
Department of Justice Merger Guidelines
Questions

CHAPTER VII. LEGISLATIVE ISSUES IN ANTITRUST
POLICY:DECONCENTRATION
CONGLOMERATES
Note
A.CONCENTRATED INDUSTRIES
Introduction
White House Task Force Report on Antitrust Policy (The "Neal Report")
Notes and Questions
Profits, Coliusion and Concentration
Why Does Concentration Persist?
Efficiencies as a Defense
B. CONGLOMERATE MERGERS
Introduction
Statement of John H. Shenefield, Assistant Attorney General,Antitrust Division

CHAPTER VII. LEGISLATIVE ISSUES IN ANTITRUST POLICY: DECONCENTRATION AND
CONGLOMERATES—Continued Paga
Statement of Ralph Nader and Mark Green
Economic Objections to Conglomerates
Conglomerates and Concentration
Political Values
Benefits of Conglomerate Mergers

CHAPTER VIII. SECONDARY-LINE PRICE DISCRIMINATION AND RELATED PRACTICES UNDER THE ROBINSON-PATMAN ACT
A. THE EFFECT OF PRICE DISCRIMINATION ON COMPETITION AMONG THE DISCRIMINATING SELLER'S CUSTOMERS
An Introduction to the Robinson-Patman Act
Federal Trade Commission v. Morton Salt Co.
Notes and Questions
Discrimination and Competition

B.WHAT IS DISCRIMINATION?
1.What Product and Cost Characteristics Count?
Federal Trade Commission v. Borden Co.Notes and Questions
2.Buyers' Services, Allowances, and Brokerage
Federal Trade Commission v. Fred Meyer, Inc.
Notes and Questions
Federal Trade Commission v. Henry Broch & Co.
Notes and Questions

C.THE MEETING COMPETITION DEFENSE
Federal Trade Commission v. A.E. Staley Mfg. Co.
Notes and Questions
Standard Oil Co. v. Federal Trade Commission
Note
United States v. United States Gypsum Co.
Notes and Questions

D. BUYERS' LIABILITY
Great Atlantic & Pacific Tea Co. v. Federal
Trade Commission
Notes and Questions
The Decline of Robinson-Patman Enforcement

CHAPTER IX. ANTITRUST IN THE REGULATED INDUSTRIES
Introduction
A.ANTITRUST LAW AND GENERAL REGULATION
Otter Tail Power Co. v. United States
Notes and Questions

CHAPTER IX. ANTITRUST IN THE REGULATED INDUSTRIES—Continued
United States v. National Ass'n of Securities Dealers, Inc.
Notes and Questions

B.DECISIONS BY STATES TO REPLACE COMPETITION WITH REGULATION
Parker v.Brown
Notes and Questions
The Rationale of the Parker Doctrine
The Parker Doctrine after Parker
City of Lafayette v. Louisiana Power & Light Co.
Notes and Questions California Retail Liquor Dealers Ass'n v.
Midcal Aluminum, Inc.
Notes and Questions

C.THE EXEMPTED INDUSTRIES
1.Agriculture
Maryland and Virgínia MiIk Producers Ass'n, Inc. v.
United States
National Broiler Marketing Ass'n v. United States
Notes and Questions
The Interpretation of Antitrust Exemptions
2.Insurance
Group Life & Health Insurance Co. v. Royal Drug Co.
Notes and Questions
Exemptions and Antitrust Failure
Regulation of Insurance Prices
3.Transportation
Federal Maritime Commission v. Seatrain Lines, Inc.
Notes and Questions
4.Miscellaneous
Appendix: Introduction to the Economics of Antitrust
Index