The Market that Antitrust Built
Public Policy, Private Coercion, and Railroad Acquisitions, 1825 to 1922
Bibliographic Data
| ID | 4522063 |
|---|---|
| Authors | Frank Dobbins, Frank Dobbin (Princeton University), Timothy J Dowd (0000-0002-6739-4433, Princeton University) |
| Year | 2000 |
| Volume | 65 |
| Issue | 5 |
| Pages | 631-657 |
| Publication date | 2000-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | American Sociological Review (JOURNAL) |
| Journal identifiers | ISSN: 0003-1224 • E-ISSN: 1939-8271 |
| Publisher | SAGE Publications Inc (PUBLISHER) |
| DOI | 10.2307/2657540 |
| OpenAlex | W3125828122 |
| Language | EN |
| Citations received | 122 |
| References cited | 60 |
How do new business models emerge? Neoinstitutionalists argue that the process often begins when a policy shift undermines the status quo; groups then vie to define the best alternative. The authors explore the role of power in selecting between two alternative business models available to railroads from 1897, when antitrust laws banned the cartel-the prevailing model for managing competition. Predatory railroads prescribed several methods for destroying rivals. Financiers prescribed amicable mergers instead, and fought predation by threatening to withhold capital from predators. An analysis of the 167 rail acquisitions in Massachusetts between 1825 and 1922 confirms that the financiers succeeded. After antitrust laws were enforced, railroads left cartels to follow the business model of financiers rather than that of predators. This can be seen in the conditional variables that predict buying and selling. Thus public policy and power can shape key market features. It is ironic that this market, built by antitrust, became the prototype for the neoliberal ideal of the unregulated economy
Business · Capital (architecture · Cartel · Coercion (linguistics · Collusion · Competition (biology · Economics · Industrial organization · Law and economics · Market economy · Market power · Monopoly · Political economy · Political science · Power (physics · Status quo · Corporate Finance and Governance · Economic Theory and Institutions · Merger and Competition Analysis · Public Administration
Rationality and Institutional Contingency
Sources of Durability and Change in Market Classifications
Why the Economy Reflects the Polity
Knowledge and Competitive Advantage
Organizations and Movements
Where Do We Stand? Common Mechanisms in Organizations and Social Movements Research
Monopoly Politics
Transformation in Cultural Industries
Charting Gender
Gouverner les conduites
Social Movements and Organization Theory
A political approach to organizations and institutions
Explaining Large-Scale Policy Change in the Turkish Health Care System
From Struggle to Settlement
Introduction
The Institutional Context of Industry Consolidation
Whose Legitimacy? China’s Drive for Electric Vehicles
State Agency Discretion and Entrepreneurship in Regulated Markets
Corporate Networks in Europe and the United States
Mafia Organizations
Charting race
Economic Sociology in the Next Decade and Beyond
La construction des prix à la SNCF, une socio-histoire de la tarification
Bourdieu and organizations
Overcoming path dependency
Why there and then, not here and now? Ecological offsetting in California and England, and the sharpening contradictions of neoliberal natures
Health-Related Lifestyle
Gamification - the Way of Motivation or Way of Control over the Labor Process
Digital Labor and the Sharing Economy
The Typical Tools for the Job
La fin de l’État stratège
Restructurer le secteur de l’énergie
Culture and commodifictation
The transformation of the primary health care system for Syrian refugees in Turkey
The mutual constitution of legal environments and practices
Under pressure
The evolving role of organizational theory within economic sociology
Race, poverty, and markets
Introduction
Half Empty, Half Full, or Neither
Organizations, Regulation, and Economic Behavior
From Local Legislation to Global Structuring Frame
Delivery to the Customer's Door
Cartels, competition, and coalitions
Politics, power, and institution building
Combining New Institutionalisms
The Feeble Strength of One? Interdependence, Strategic Interaction, and the Decentralization of Collective Bargaining
Institutional Conditions of Economic Globalization
Organizational Turning Points
Positioning Charter Schools in Los Angeles
Coopetition and the social order of markets
Concentration and Diversity Revisited
The Sociology of Markets
Players and Arenas
Legitimacy as a Social Process
Social Movements and Organizational Form
Legal infrastructures
The Global Diffusion of Public Policies
The Conditional Nature of Embeddedness
Do economists make policies? On the political effects of economics
Law, Economy and
Sumptuary administration
Coping with uncertainty, abundance and strife
The hidden tastemakers
Rethinking moral hazard
Politics of Organizational Adornment
Here a Chief, There a Chief
The Organization of Neglect
Antebellum literary culture and the evolution of American magazines
What's on the path? Path dependence, organizational diversity and the problem of institutional change in the US economy, 1900-1950
Power resources of labor and the state politics of downsizing
Raising the stakes
Classifying the corporation
Velhos E Novos Desafios Para a Sociologia Econômica No Século Xxi - Introdução
The boundary contest that never was
A sociologia dos mercados
Velhos e novos desafios para a sociologia econômica no século XXI
La capture comme levier de l'intervention publique sur l'économie
The financialization of non-financial firms
Competition and Isomorphism
From the State to the Street
When Organizations Rule
Time and the constitution of markets
State activism and the hidden incentives behind bank acquisitions
Algorithmic Management and the Social Order of Digital Markets
The theory of industrial organization
Prophets of Regulation
Institutions and organizations
Railroads and Regulations, 1877-1916
Barriers to New Competition
Scale and Scope
The Economic Theory of ‘Managerial’ Capitalism
Organizational Ecology
The Hubris Hypothesis of Corporate Takeovers
The iron cage revisited institutional isomorphism and collective rationality in organizational fields
Theory of the firm
The Visible Hand
Handbook of Organizations (RLE
Institutions, Institutional Change and Economic Performance
Bold Relief
Social structure and organizations
Socializing Capital
Evolution of the Large Firm in France in Comparative Perspective
Merger Movements in American Industry, 1895-1956
American economic growth, an economist's history of the United States
Railroads
The Friendly and Predatory Acquisition of Large U.S. Corporations in the 1960s
In Defense of Multiplicative Terms in Multiple Regression Equations
Beyond the polemics on the market
Economic Behavior in Institutional Environments
The Decline and Fall of the Conglomerate Firm in the 1980s
The Iron Cage Revisited
The Limits of Competition
Railroad Leaders 1845-1890
A Time to Grow and a Time to Die
Equal Opportunity Law and the Construction of Internal Labor Markets
The Origins of Private Social Insurance
Institutionalized Organizations
| Unique citing works | 85 |
|---|---|
| Citations per year | 5,08 |
| Citation span | 2002 - 2025 (24) |
| Citation velocity | recent |
| Highly cited | Yes |
| Citation types | Neutral: 120 |