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By Arnold A. Heggestad

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Entry barriers should be lowered, if possible, and easier access provided to international trade. , leaders in entry-protected, high-concentration oligopolies) should be closely supervised by antitrust agencies. 53 Page 25 Merger Policies During the later 1950s a "structuralist" approach to mergers was implemented by the Antitrust Division and the Federal Trade Commission with many antimerger complaints. Lower courts provided support to this policy in early decisions (Hamilton v. Benrus, 1953; and Bethlehem-Youngstown, 1958).

Thus, mergers via acquisitions of corporate assets were unregulated, regardless of size or anti-competitive consequences. An FTC Economic Report on Mergers, 194047, viewed with alarm an increased rate of corporate mergers during the expansion associated with the war and postwar prosperity. Congress feared a rising tide of economic concentration and accordingly outlawed all mergers that might substantially lessen competition with the Celler-Kefauver Act amendments of 1950. 48 Most earlier classical and neoclassical economists simply condemned monopolies and supported freer competition.

La sera e buono, la matina e guasto" (Love is like wine. In the evening, it's wonderful. The morning after, it tastes awful). Page 17 2. Antitrust in the Current Economic Environment William A. S. antitrust law and enforcement is a distinctively American contribution to the economic regulation of modern industrial economies. Its goals have been to promote fairness, competition, efficiency, decentralization, and small business, along with fostering broader economic opportunity and prospects for social mobility.

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