Private Property and the Regulation of Vertical Channel Systems

Abstract

The roots and development of the rights of private property are traced from Aristotle to the end of the nineteenth century when the Sherman Antitrust Act was formulated. A concept of viewing injury to competition as an externality is offered as useful in determining when property rights and restraints in vertical channels of distribution ought to be restricted in order to achieve any stated set of social objectives. The concept appears useful in analyzing a broad range of macromarketing problems.