IDEAS home Printed from https://ideas.repec.org/p/usi/wpaper/623.html
   My bibliography  Save this paper

The influence of American economists on the Clayton and Federal Trade Commission Acts

Author

Listed:
  • Luca Fiorito

Abstract

The aim of this paper is to analyze American economists’ influence in the passing of the Clayton and Federal Trade Commission Acts (1914). Specifically, it is argued and documented that American economists were important in this process in two ways. Many economists exercised an “indirect” influence by discussing in academic journals and books problems concerning trusts, combinations, and the necessary measures to preserve the working of competitive markets. At least as importantly, if not more so, some economists took an active role in the reform movement both contributing to draft proposals for the amendment of existing antitrust legislation and providing help and advice during the Congressional debates which led to the passing of the FTC and Clayton Acts. Among these, we will focus primarily, albeit not exclusively, on the contribution of John Bates Clark.

Suggested Citation

  • Luca Fiorito, 2011. "The influence of American economists on the Clayton and Federal Trade Commission Acts," Department of Economics University of Siena 623, Department of Economics, University of Siena.
    • Handle: RePEc:usi:wpaper:623
    as

    Download full text from publisher

    File URL: http://repec.deps.unisi.it/quaderni/623.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Brown, John Howard, 2004. "Jeremiah Jenks: A Pioneer of Industrial Organization?," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(1), pages 69-89, March.
    2. Robert Liefmann, 1915. "Monopoly or Competition as the Basis of a Government Trust Policy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 29(2), pages 308-325.
    3. Fiorito, Luca & Henry, John F., 2007. "John Bates Clark on Trusts: New Light from the Columbia Archives," Journal of the History of Economic Thought, Cambridge University Press, vol. 29(2), pages 229-250, June.
    4. Marcus Alexis, 1982. "The applied theory of regulation: Political economy at the Interstate Commerce Commission," Public Choice, Springer, vol. 39(1), pages 5-27, January.
    5. Sumner H. Slichter, 1917. "The Legality of the Combination of Competitors Under the Sherman Act," Journal of Political Economy, University of Chicago Press, vol. 25(8), pages 761-761.
    6. Geoffrey Poitras & Franck Jovanovic (ed.), 2007. "Pioneers of Financial Economics: Volume 2," Books, Edward Elgar Publishing, number 3823.
    7. Frank Haigh Dixon, 1914. "The Economic Significance of Interlocking Directorates in Railway Finance," Journal of Political Economy, University of Chicago Press, vol. 22(10), pages 937-937.
    8. Wesley C. Mitchell, 1941. "J. Laurence Laughlin," Journal of Political Economy, University of Chicago Press, vol. 49(6), pages 875-875.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Juan Antonio Rubio Mondéjar & Josean Garrués Irurzun, 2012. "Estructura corporativa e interlocking directorates en las mayores empresas españolas, 1917-1970," FEG Working Paper Series 01/12, Faculty of Economics and Business (University of Granada).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Blum, Ulrich & Veltins, Michael A., 2005. "Die Identifikation des „Wirtschaftlichen Vorteils“ in Kartellverfahren," IWH Discussion Papers 1/2005, Halle Institute for Economic Research (IWH).
    2. William Dougan, 1984. "Railway abandonments, cross-subsidies, and the theory of regulation," Public Choice, Springer, vol. 44(2), pages 297-305, January.
    3. Nicola Giocoli, 2009. "Competition Versus Property Rights: American Antitrust Law, The Freiburg School, And The Early Years Of European Competition Policy," Journal of Competition Law and Economics, Oxford University Press, vol. 5(4), pages 747-786.
    4. James Peoples, 2014. "Marcus Alexis and Regulatory Reform in Surface Transportation Industries," The Review of Black Political Economy, Springer;National Economic Association, vol. 41(3), pages 243-258, September.
    5. Ledenyov, Dimitri O. & Ledenyov, Viktor O., 2016. "Forecast in Capital Markets," MPRA Paper 72286, University Library of Munich, Germany.
    6. P. Hägg, 1997. "Theories on the Economics of Regulation: A Survey of the Literature from a European Perspective," European Journal of Law and Economics, Springer, vol. 4(4), pages 337-370, December.
    7. Giocoli, Nicola, 2008. "Competition vs. property rights: American antitrust law, the Freiburg School and the early years of European competition policy," MPRA Paper 33807, University Library of Munich, Germany.
    8. Michel Boucher, 1986. "L'inspiration americaine de la dereglementation en transport routier. (With English summary.)," Canadian Public Policy, University of Toronto Press, vol. 12(1), pages 189-201, March.
    9. James Peoples, 2013. "The Legacy of the Interstate Commerce Act and Labor: Legislation, Unionization, and Labor Earnings in Surface Transportation Services," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 43(1), pages 63-84, August.
    10. F.M. Scherer, 1997. "Competition Policy Convergence: Where Next?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 24(1), pages 5-19, January.
    11. Caswell, Julie A., 1988. "Federal and State Regulations of Food Product Safety and Quality: A Selected, Partially Annotated Bibliography," Miscellaneous Publications 320010, United States Department of Agriculture, Economic Research Service.
    12. Ledenyov, Dimitri O. & Ledenyov, Viktor O., 2017. "Investment in capital markets," MPRA Paper 77414, University Library of Munich, Germany.
    13. Luca Fiorito, 2012. "When Economics Faces the Economy: John Bates Clark and the 1914 Antitrust Legislation," Working Paper Series, Department of Economics, University of Utah 2012_01, University of Utah, Department of Economics.
    14. F. M. Scherer, 2000. "The Emigration of German-Speaking Economists after 1933," Journal of Economic Literature, American Economic Association, vol. 38(3), pages 614-626, September.
    15. Lin, Tzuling & Tsai, Cary Chi-Liang, 2013. "On the mortality/longevity risk hedging with mortality immunization," Insurance: Mathematics and Economics, Elsevier, vol. 53(3), pages 580-596.
    16. Lai, Cheng-Chung & Gau, Joshua Jr-shiang & HO, TAI-KUANG, 2009. "Professor Jeremiah Jenks of Cornell University and the 1903 Chinese Monetary Reform," Hitotsubashi Journal of Economics, Hitotsubashi University, vol. 50(1), pages 35-46, June.

    More about this item

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
    • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices
    • L42 - Industrial Organization - - Antitrust Issues and Policies - - - Vertical Restraints; Resale Price Maintenance; Quantity Discounts

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:usi:wpaper:623. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Fabrizio Becatti (email available below). General contact details of provider: https://edirc.repec.org/data/desieit.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.