In Praise of All or Nothing Dichotomous Categories: Why Antitrust Law Should Reject the Quick Look
Citation: 104 Geo L.J. 835 (2016)
All contracts “restrain trade” in some sense, but section 1 of the Sherman Act bans only those that restrain trade “unreasonably.” Restraints are unreasonable, in turn, if they create or maintain market power without producing offsetting efficiencies. Such agreements divert resources to less valuable uses and thus reduce society’s wealth. . . .