Symposium
Last updated on Dec 28, 2019
In the last few years, a movement has emerged that seeks to expand the remit of antitrust beyond the “consumer welfare standard” to include political and social issues, ranging from rising income inequality and declining wages, to political concentration, environmental degradation, and declining author revenue.
But should these other social and political issues be incorporated into antitrust law? And if so, how? The discussion of this issue so far has been heavy on rhetoric and light on substance; it is dominated by non-expert, ideologically driven opinion. In this blog symposium we seek to offer a more substantive and balanced discussion. To that end, we invited a number of respected economists, legal scholars, and practitioners to offer their perspectives.
The symposium comprises posts by Steve Cernak, Luigi Zingales and Filippo Maria Lancieri, Geoffrey A. Manne and Alec Stapp, Valentin Mircea, Ramsi Woodcock, Kristian Stout, and Cento Veljanoski.
* This paper represents the current views of the author alone and not necessarily the views of any past, present or future employer or client.
In This Symposium
The Politicization of Antitrust Blog Symposium
The operative text of the Sherman Antitrust Act of 1890 is a scant 100 words: Section 1: Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is declared to be illegal. Every person who shall make any contract ... The Politicization of Antitrust Blog Symposium
“Politicization of Antitrust:” An Opportunity
[TOTM: The following is the first in a series of posts by TOTM guests and authors on the politicization of antitrust. The entire series of posts is available here.] This post is authored by Steven J. Cernak, Partner at Bona Law and Adjunct Professor, University of Michigan Law School and Western Michigan University Thomas M. Cooley ... “Politicization of Antitrust:” An Opportunity
Towards a Democratic Antitrust
This symposium discusses the “The Politicization of Antitrust.” As the invite itself stated, this is an umbrella topic that encompasses a wide range of subjects: from incorporating environmental or labor concerns in antitrust enforcement, to political pressure in enforcement decision-making, to national security laws (CFIUS-type enforcement), protectionism, federalism, and more. This contribution will focus on ... Towards a Democratic Antitrust
Does Political Power Follow Economic Power?
[TOTM: The following is the third in a series of posts by TOTM guests and authors on the politicization of antitrust. The entire series of posts is available here.] This post is authored by Geoffrey A. Manne, president and founder of the International Center for Law & Economics, and Alec Stapp, Research Fellow at the ... Does Political Power Follow Economic Power?
Competition Law as a Swiss Army Knife (Move Fast and Break Things?)
[TOTM: The following is the fourth in a series of posts by TOTM guests and authors on the politicization of antitrust. The entire series of posts is available here.] This post is authored by Valentin Mircea, a Senior Partner at Mircea and Partners Law Firm, Bucharest, Romania. The enforcement of competition rules in the European ... Competition Law as a Swiss Army Knife (Move Fast and Break Things?)
Big Ink vs. Bigger Tech
[TOTM: The following is the fifth in a series of posts by TOTM guests and authors on the politicization of antitrust. The entire series of posts is available here.] This post is authored by Ramsi Woodcock, Assistant Professor, College of Law, and Assistant Professor, Department of Management at Gatton College of Business & Economics, University ... Big Ink vs. Bigger Tech
We Should Not Have Our Constitution Redesigned by Antitrust Lawyers
[TOTM: The following is the sixth in a series of posts by TOTM guests and authors on the politicization of antitrust. The entire series of posts is available here.] This post is authored by Kristian Stout, Associate Director at the International Center for Law & Economics. There is a push underway to punish big tech ... We Should Not Have Our Constitution Redesigned by Antitrust Lawyers
Efficient Cartels and the Public Interest Defence – Do They Exist?
The concept of a “good” or “efficient” cartel is generally regarded by competition authorities as an oxymoron. A cartel is seen as the worst type of antitrust violation and one that warrants zero tolerance. Agreements between competitors to raise prices and share the market are assumed unambiguously to reduce economic welfare. As such, even if ... Efficient Cartels and the Public Interest Defence – Do They Exist?