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首页> 外文期刊>The Antitrust Bulletin >Consumer Welfare Theory as an Ethical Consideration: An Essay on Hipsters, Invisible Feet, and the 'Science' of Economics
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Consumer Welfare Theory as an Ethical Consideration: An Essay on Hipsters, Invisible Feet, and the 'Science' of Economics

机译：消费者福利理论作为伦理学的考虑：关于行家，看不见的脚和经济学的“科学”的论文

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This article outlines the principle of efficiency as taken from physics and misapplied into the realm of economics. The result of the misapplication has been a narrow view of antitrust policy, culminating in an extremely conservative application of the consumer welfare standard. The result of such policy has been increasing concentration in many industries, abdication of any examination of monopoly power in the context of Section 2 of the Sherman Act, and dogmatic defense of “consumer welfare” as the only scientific approach to antitrust law. Part II reviews of the original goals of antitrust, as viewed without the lens of present-day economic efficiency. These are policy goals as described in legislative history and judicial development of common law. As such, they are ethical considerations distinct from consumer welfare. In part III, the article discusses the central tenets of economics in antitrust policy. These central notions are policy considerations that are misapplications of physics. Part IV discusses the physics definition of efficiency, with some insights as to the issues arising from adopting such a standard in terms of antitrust markets. Part V addresses the failures of antitrust using the lens of physics, explaining that consumer welfare is an ethical argument, not a scientific one. Part VI addresses other potential ethical standards for antitrust enforcement, as well as empirical evidence that support such norms. Part VII offers concluding thoughts where the article argues that there are superior ethical norms that would boost antitrust enforcement and that are consistent with the goals of antitrust.
机译：本文概述了效率原理，该原理取自物理学，并被误用于经济学领域。错误应用的结果是对反托拉斯政策的狭narrow看法，最终导致对消费者福利标准的极其保守的应用。这种政策的结果是，许多行业的集中度不断提高，在《谢尔曼法》第2节的范围内放弃了对垄断权力的任何审查，以及对“消费者福利”的教条式辩护，这是反托拉斯法的唯一科学方法。第二部分回顾了反托拉斯的原始目标，而没有当今的经济效率。这些是立法历史和普通法司法发展所描述的政策目标。因此，它们是与消费者福利不同的道德考量。在第三部分中，文章讨论了反托拉斯政策中经济学的核心原则。这些中心概念是政策的考虑，是对物理学的错误应用。第四部分讨论了效率的物理定义，并对在反托拉斯市场上采用这种标准引起的问题有一些见解。第五部分使用物理学的视角解决了反托拉斯法的失败，解释了消费者福利是一种道德论据，而不是科学论据。第六部分论述了反托拉斯执法的其他潜在道德标准，以及支持此类规范的经验证据。第七部分提供了结论性思想，其中文章认为，存在可以促进反托拉斯执法并符合反托拉斯目标的高级道德规范。

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