Antitrust Laws

Paper Summary:

The paper discusses the landmark Supreme Court decision "Weyerhaeuser Company versus Ross-Simmons Hardwood Lumber Company," which has had a significant effect on the judicial landscape pertaining to antitrust law. The case involved the legal issues of antitrust laws and monopolies, specifically regarding what test was to be utilized should a predatory bidding occur. The paper discusses that essentially the Supreme Court held that the test used for over a decade to govern predatory pricing was the same test that should be applied to incidences of predatory bidding. The paper states that without competition, there is no check on prices and thus the consumer is the one who suffers. The paper relates that Congress enacted various laws in order to prevent monopolistic business practices from occurring.

Outline:
Introduction
Summary of the Case
Factual Background
Decision
Consequences of the Weyerhaeuser Decision

From the Paper:

"Antitrust laws came into existence in the 1800s as a way of protecting the free enterprise value of American capitalism. The need arose during the later part of the century when great industrial corporations, such as Standard Oil and JP Morgan, were able to create monopolies over their industry and thus force out competition. Without competition, there is no check on prices and thus the consumer is the one who suffers. Thus, congress enacted various laws in order to prevent such monopolistic business practices from occurring."

Sample of Sources Used:

• Bolton, Patrick, et. al. (2000): Predatory Pricing: Strategic Theory and Legal Policy. 88 Geo.L.J. 22239.
• Brooke Group Ltd. v. Brown & Williamson Tobacco Corp., 509 U.S. 209 (1993).
• Hovencamp, Herbert. (1994): Federal Antitrust Law Policy: The Law of Competition and Its Practice. Minneapolis: West Group Publishing.
• Khan v. State Oil Company, 53 F.3d 1358 (CA7 1996).
• Posner, Richard. (1976): Antitrust Law: An Economic Perspective. Minneapolis: West Group Publishing.

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