Not only is their economic analysis non-existent (actually there’s
no analysis at all) but their “history” is actually made up. They
suggest that the 1910 Standard Oil antitrust case is an example of
predatory pricing. They should read the case
(this is the sort of thing that real researchers do). Standard was not
only not convicted of predatory priciing it was not even charged with
it. They should also look at the economics literature in this area (or
in any area for that matter.). The standard work on predatory pricing
and Standard Oil is by John McGee, 1958, the Journal of Law and Economics,
“Predatory Price Cutting: The Standard Oil Case,” which finds no
evidence of predatory pricing. When is the left going to realize that
there actually are source references out there that are more rigorous
than the New York Times?