Economics professor (emeritus) at the University of Hartford

Born

1940, in Hartford, Connecticut

Associations

Cato Institute, Adjunct Scholar
Independent Institute, Research Fellow
Mises Institute, Associated Scholar

Articles

Monopolies versus the Free Market, Part 1, by Gregory Bresiger, Future of Freedom, Sep 2006
Contrasts state-backed monopolies or quasi-monopolies vs. regular businesses in a free market, with historical and current examples, and discusses antitrust laws
By now, the process by which the government goes after large companies for antitrust violations is predictable. ... competitors, backed up by consumer-interest groups, raise a ruckus and insist that the Justice Department intervene. Indeed, according to economist Dominick T. Armentano, 90 percent of all antitrust litigation has been brought by one firm against another. Armentano also points out that the 'history of antitrust regulation reveals that these laws have often served to shelter high-cost, inefficient firms from the lower prices and innovations of competitors.'

Writings

Antitrust Reform: Predatory Practices and the Competitive Process, The Review of Austrian Economics, 1989
Examines so-called "predatory" practices from various perspectives, such as the purported "intent" of lower prices, pricing "below cost" and the alleged effects on "consumer welfare"
There have been some modest changes in the administration of United States antitrust policy over the past ten years. The federal antitrust regulators—and to some extent the courts—are now somewhat less concerned than previously with conglomerate and vertical mergers ... Predatory behavior cannot be logically distinguished from benign competitive behavior either by intent or by any price-cost rules. Price reductions, selective or otherwise, and various nonprice rivalrous strategies (such as advertising and innovation) are all part and parcel of a competitive market process.
Related Topics: Business, Free Market, Prices
My Life as a Libertarian, 21 Jul 2003
Lengthy autobiographical essay, describing among other things, how he took an interest in antitrust policy and wrote several books and articles on the subject, and his disappointment when attempting to stop Connecticut from imposing a state income tax
I was born in the North End of Hartford (CT) in 1940 and I've been a libertarian for as long as I can remember. I never went through any sort of messy political transformation like some others did. I was never a Marxist or a socialist or even a warm and fuzzy liberal. ... Instead, we just set good life examples and let him discover the importance of political liberty on his own. (Leonard Read was certainly right on that one). It will now be up to Paul, and like-minded academics and activists, to continue the struggle for liberty and justice against entrenchments of power.

Interviews

The Anatomy of Antitrust: An Interview With Dominick T. Armentano, Austrian Economics Newsletter, 1998
Discusses aspects of the United States v. Microsoft Corp case and related issues, such as product tying, exclusivity agreements, theories of compettion, price fixing, Robert Bork's views, government monopolies and Armentano's antitrust book
AEN: Has the Microsoft case revived the debate over antitrust?
ARMENTANO: Actually, the debate never went away. It was just out of the media for a while. But the Microsoft case does provide an opening for us to revisit some crucial theoretical and policy issues. The case illustrates how absurd it is to attempt to apply antique, unworkable, special-interest law to the new computer and telecommunications marketplace. ...
AEN: Any thoughts on how popular culture treats business?
ARMENTANO: ... popular culture can be brutal in its treatment of business. But ... I'm optimistic about the future.

Books Authored

Antitrust: The Case for Repeal
    by Dominick T. Armentano, Mises Institute, Apr 1999
Partial contents: The Antitrust Assault on Microsoft - The Case Against Antitrust Policy - Competition and Monopoly: Theory and Evidence - Barriers to Entry - Price Discrimination and Vertical Agreements - Horizontal Agreements: Mergers and Price Fixing
Antitrust and Monopoly: Anatomy of a Policy Failure
    by Dominick T. Armentano, Independent Institute, 1982
Partial contents: The Legitimacy of Antitrust Policy - Competition Theory and the Market Economy - Monopoly under the Sherman Act - Monopoly in Business History - Price Conspiracy and Antitrust Law - Price Discrimination and the Competitive Process

Videos


Anti-Trust and Monopoly, by Dominick T. Armentano, Ron Paul, 13 Jul 1983
A conversation with Ron Paul, hosted by Roger Ream, with guest Prof. Dominick Armentano
Related Topic: Monopoly