READING LIST

Aaron Director

Corporations and the Rise of the Chicago Law and Economics Movement

From its birth in 1946 onward, corporations made possible and crucially supported the rise of the Chicago law and economics movement. Aaron Director, who at one point had advocated for curbing corporate power and vigorously enforcing antitrust law,...

Aaron Director and the Empirical Foundation for the Chicago Attitude on Antitrust

Empirical evidence, not just disembodied theory, was an important building block of Director’s view that competition could defeat concentration, writes Daniel Kuehn. Editor's note: Aaron Director, one of the founders of the so-called Chicago School of Law and Economics, died...

How Powerful Ideas Can Shape Society: Aaron Director and the Triumph of Nihilism

The rise of giants like Amazon and Facebook proves the long-lasting influence of Director's approach. His intellectual and political legacy is the transition of legitimacy from democratic institutions as the locus of governing power to private...

If One Monopoly Is Good for the Firm, Are Two Always Better? Aaron Director and the Tie-in Problem

When IBM patented a punch card processing machine, it had the power to influence both the market of machines and punch cards, but this is not always the case when a company operates in two different but connected markets.  Editor's note:...

Standard Oil and Antitrust: the Effects of Aaron Director's Socratic Method

Aaron Director, who died 15 years ago, made important contributions to the analysis of business practices. None were ever published under his name. Professor Sam Peltzman explains why his approach was so fruitful. Aaron Director was born in Charterisk, which...

Aaron Director’s Legacy: The Beginning of Doubt is the Beginning of Wisdom

Aaron Director died 15 years ago. He published almost nothing, but his ideas influenced a generation of economists and intellectuals. Professor Stephen Stigler remembers the most enigmatic founder of the so-called “Chicago School”.  The faculty of the University of Chicago...