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Original Intent and the Sherman Antitrust Act: A Re-examination of the Consumer-Welfare Hypothesis

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  • Grandy, Christopher

Abstract

An important tenet of the Chicago School of antitrust asserts that the Sherman Act's framers sought to foster consumer welfare. This article challenges that interpretation by re-examining the legislative history. That history suggests that a consumer-welfare standard did not survive the legislative process and that, if anything, Congress focused on the behavior of producers.

Suggested Citation

  • Grandy, Christopher, 1993. "Original Intent and the Sherman Antitrust Act: A Re-examination of the Consumer-Welfare Hypothesis," The Journal of Economic History, Cambridge University Press, vol. 53(2), pages 359-376, June.
    • Handle: RePEc:cup:jechis:v:53:y:1993:i:02:p:359-376_01
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    Cited by:

    1. Aurelien Portuese, 2020. "Beyond antitrust populism: Towards robust antitrust," Economic Affairs, Wiley Blackwell, vol. 40(2), pages 237-258, June.
    2. McCutcheon, Barbara, 1997. "Do Meetings in Smoke-Filled Rooms Facilitate Collusion?," Journal of Political Economy, University of Chicago Press, vol. 105(2), pages 330-350, April.
    3. Patrick Newman, 2018. "Revenge: John Sherman, Russell Alger and the origins of the Sherman Act," Public Choice, Springer, vol. 174(3), pages 257-275, March.

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