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Book Review
| Antitrust and Global Capitalism, 1930–2004. By Tony A. Freyer. (New York: Cambridge University Press, 2006. xiv, 437 pp. $80.00, ISBN 978-0-521-81788-2.)
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| Tony A. Freyer's important new book, Antitrust and Global Capitalism, 1930–2004, traces the development of antitrust, or competition, law since the 1930s. No one seriously doubts that antitrust laws significantly affect economic structure or that such laws, quite rare before World War II, have since spread throughout the world. Freyer, however, examines the subject in greater detail than any previous scholar. |
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He starts, appropriately enough, with the United States, the first country to develop an effective antitrust regime. In particular, he emphasizes how Thurman Arnold, who led the Justice Department's Antitrust Division in the late 1930s and early 1940s, reinvigorated and altered the direction of enforcement. Arnold sought, not to break up large companies, but to make them accountable for their behavior, and his effort ultimately produced a fairly strict set of rules governing competition and mergers among American businesses. |
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