Adi Ayal is a gifted scholar who uses sophisticated economic, legal and philosophical arguments to reexamine the fundamentals of antitrust law. Not content to accept the economists’ notion of maximizing efficiency, Professor Ayal shows that economists often ignore basic presumptions of property rights’ protection and fairness in their analyses. He argues that even monopolists have rights that require protection in any well-functioning legal regime, though those rights have limits. This book will challenge and perhaps frustrate those who think they know the answer to the question of how to balance the competing stakeholders’ interests under competition policy. What is undeniable is that the book will stimulate thoughtful debate and force analysts to face squarely hard questions that they have ignored.
