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1、Volume3Number2AutumN2007CompetitionPolicyInternationalLawandtheFuture:TradeRegulation(1956)AaronDirector&EdwardH.LeviwithaNotebyKeithHyltonOriginallypublishedinNorthwesternUniversityLawReview,Vol.51,No.281,1956.ReprintedbyspecialpermissionofNorthwesternUniversitySchoolofLaw,NorthwesternUnive
2、rsityLawReview.Copyright©2007PublishedinCompetitionPolicyInternational(printISSN1554-0189,onlineISSN1554-6853),CompetitionPolicyInternational,llc.Autumn2007,Vol.3,No.2.Forarticlesandmoreinformation,visitwww.globalcompetitionpolicy.org.ANoteonDirector&Levi(1956)KeithHyltonntheiruninformativel
3、ytitledarticle,“LawandtheFuture:TradeIRegulation,”1DirectorandLevisetoutaresearchagendaaswellassomeofthemajorpropositionsofwhatlatercametobeknownastheChicagoSchoolofantitrust.Abettersenseofitseventualimportancetotheantitrustliteraturewouldhavebeenconveyedifthearticlehadbeentitled“TheChicagoS
4、choolofAntitrust:AManifesto.”Ofcourse,callingthearticle“TheChicagoManifesto”wouldhavemadethetitlemoreinformativetoday,butlessinform-ativewhenitwaswritten.Thereinliesthestoryofoneofthemostsuccessfulintellectualinnovationsofthelegalacademy.ForwhenDirectorandLeviwrote“LawandtheFuture,”theChicag
5、oSchoolofAntitrustwasrelativelyunknownoutsideoftheUniversityofChicagoLawSchool,andeventhere,consistedofnothingmorethancriticaldis-cussionofantitrustcasesintheclassroomofoneAaronDirector.Weareallfamiliarwiththeimportanceofthoseargumentstoday,primarilythroughtheimpressionthattheymadeonDirector
6、’sstudents.TheChicagoSchoolofAntitrusthasarguablybecomethecoreofseriousantitrustanalysis.“LawandtheFuture”istheonlypublishedarticleinwhichDirectorhimself,ratherthanoneofhisstudents,setsforththeChicagoSchoolarguments.Thearticlediscussestheeconomicanalysisofmarketpower,abusesofmarketpower,andc
7、ollusion.1AaronDirector&EdwardLevi,LawandtheFuture:TradeRegulation,51NORTHWESTERNL.REV.281(1956),reprintedin3(2)COMPETITIONPOL’YINT’L253(2006).TheauthorisaProfessorofLawatBostonUniversitySchoolofLawandco-editorofCompetitionPolicyInternational.251Ke
