Legal Theory of Economic Power: Implications for Social and by Calixto Filho

By Calixto Filho

During this provocative e-book Calixto Salomao Filho builds a robust case for why monetary energy can't be thought of a trifling industry phenomenon. Taking the forgotten realities and results of those energy buildings into consideration, his entire criminal research persuasively argues the necessity for a brand new idea of monetary power.

The ebook starts off with a dialogue of the insufficiency of antitrust thoughts and tools. the writer offers an monetary historical past of monopolistic colonial structures and its influence at the improvement approach, and gives an alternative paradigm of felony structuralism and social association. He is going directly to discover the production of financial energy constructions with a cogent dialogue of industry energy, criminal constructions and the dominance of universal pool assets. An exam of the dynamics and behaviour of energy buildings follows, with specific cognizance paid to exclusion and collusion, felony monopolies and the exploitation of traditional assets. the writer indicates sincerely how the unwanted effects of monetary strength buildings at once impression the social and financial improvement of societies.

This new felony conception, with its foundation within the realities of monetary constructions, will turn out a strong substitute to the conventional industry rationality paradigm. As such it is going to be of significant curiosity to scholars and students of legislations and economics, improvement and antitrust.

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Extra info for Legal Theory of Economic Power: Implications for Social and Economic Development

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Market Power and Market Share The first consequence of the marginal reasoning derives directly from the definition itself of market power (or its main form of manifestation). If this power 8 In neoclassical analysis, the position of power used as a parameter is the monopoly. Economic power structures 31 is manifested by the possibility of choosing market variables in its best interest, it is not enough to observe that the agent has a large percentage of the total production or total sales of a determined product to conclude that the agent has market power.

P. 1840. 21 See H. J. Mestmäcker, Das marketbeherrschende Unternehmen im Recht der Wettbewerbsbeschränkungen, 1958, section 2, p. 15, et seq. 22 See U. Immenga and H. J. , 1992, p. 753. Economic power structures 41 ucts market and the geographic market. It can be said that, as a general rule, when dealing with demand substitutes, the entire sales volume of the substitute product must be included. In effect, if the consumer expresses preference for a certain product, there are not, in general, limits for demand expansion in the direction of the substitute product.

One cannot assume that a company would redirect in a lasting manner most or all of its production capacity to a new product, leaving its original customers unattended. If it did, and assuming that it has some market power in its original market, prices would immediately increase, which would give consumers an incentive to go back immediately. But much more convincing than this economic argument, which in any case assumes a certain market power of the company in the original market, are the reasons suggested by business logic.

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