Do Merger Restrictions Promote Social Development?
William Gissy

Abstract
One important aspect of social development is the establishment of standards that serve to promote economic justice. That economic justice is critical to social development is a central theme of Morvaridi (2008). Economic justice is essential to economic growth and development; and Jacobs et. al. (1999) see economic development as essential for overall social development. The issue of economic justice brings in the role of property rights and the protection of property rights are seen as essential for the establishment of economic justice, at least within the neo-classical tradition. Recently several writers have questioned the legitimacy of antitrust legislation, especially those provisions that restrict mergers. These authors see such restrictions as a needless infringement on property rights and therefore contrary to economic justice. This paper argues that limitations on property rights could be justified in the face of market failures and therefore such restrictions enhance economic justice and social development.

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