Welcome to the Center of the Advancement of Capitalism's new weblog, "The Rule of Reason." In antitrust law, the "rule of reason" is the judicial principle the Supreme Court fashioned to cover for the fact that if the Sherman Act is interpreted literally, it prohibits every commercial arrangement. As early as 1911, the Court took a bald evasion and labeled it as reason.
We at the Center takes a different view of reason, and this weblog is one of our efforts to restore its correct use in our institutions. This weblog will supplement our online journal at Initium. Often we see things in the news that deserve instant commentary, and that's what bloging is all about.
For all of us at the Center, I hope you enjoy our efforts.