Quotation of the Day…

(Don Boudreaux)

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… is from page 776 of the late Fred McChesney’s excellent Winter 1991 Cato Journal paper, “Antitrust and Regulation: Chicago’s Contradictory Views”:

After a century of experience with antitrust, almost no one would disagree that it has developed in thoroughly undesirable ways….

[M]uch of antitrust jurisprudence is economic nonsense.

DBx: Pictured here is a newspaper report on the Federal Trade Commission’s decade-long case against makers of breakfast cereals – a case that featured the whackadoodle charge that makers of breakfast cereals harmed competition by producing too wide a variety of products.

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