In the 1970s, members of the Law and Economics program at the University of Chicago argued that

Question

Quizplus · Accepted Answer

The Law and Economics movement, particularly those associated with the University of Chicago in the 1970s, emphasized the efficiency aspects of market structures and practices. They argued that large market shares could be the result of efficient management or innovation, rather than anti-competitive behavior. This perspective shifted the focus from the size of the firm to the nature of its conduct and its impact on consumer welfare.

In the 1970s, Members of the Law and Economics Program