Edward S. Mason, "Monopoly in Law and Economics." The Yale Law Journal 47.1 (1937): 34-49; Cited in: Barry Hawk (1998), International Antitrust Law & Policy: Fordham Corporate Law 1998. p. 362
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The term monopoly as used in the law is not a tool of analysis but a standard of evaluation. Not all trusts are held monopolistic but only" bad" trusts; not all restraints of trade are to be condemned but only" unreasonable" restraints.
— Edward S. Mason
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "The term monopoly as used in the law is not a tool of analysis but a standard of evaluation. Not all trusts are held monopolistic but only" bad" trusts; not all restraints of trade are to be condemned but only" unreasonable" restraints." in the context of "Edward S. Mason, "Monopoly in Law and Economics." The Yale Law Journal 47.1 (1937): 34-49; Cited in: Barry Hawk (1998), International Antitrust Law & Policy: Fordham Corporate Law 1998. p. 362" to mean that wisdom is timeless.
Source: Wikiquote: "Edward S. Mason" (Quotes)
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About Edward S. Mason
Edward Sagendorph Mason (February 22, 1899 – February 29, 1992) was an American economist and professor at Harvard University. He was the Dean of the Graduate School of Public Administration, now known as the John F. Kennedy School of Government, from 1947 to 1958. He was the president of the American Economic Association in 1962. He became known for his work in industrial organization, an area in which provided direct inspiration to Joe Bain for his SCP model, and in development economics.
About Edward S. Mason
Edward Sagendorph Mason (February 22, 1899 – February 29, 1992) was an American economist and professor at Harvard University. He was the Dean of the Graduate School of Public Administration, now known as the John F. Kennedy School of Government, from 1947 to 1958. He was the president of the American Economic Association in 1962. He became known for his work in industrial organization, an area in which provided direct inspiration to Joe Bain for his SCP model, and in development economics.
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