Showing archive for: “Antitrust Populism”
NPU: Political Economy Without Economics
It appears that a new branch has forked off from the “hipster” neo-Brandeisian approach toward regulation, which styles itself as the study of “networks, platforms, and utilities” (NPU). Beginning with the 2022 publication of the “Networks, Platforms, and Utilities: Law and Policy” casebook by Morgan Ricks, Ganesh Sitaraman, Shelley Welton, and Lev Menand, NPU has ... NPU: Political Economy Without Economics
Big Isn’t Necessarily Bad
A recurring claim among a certain breed of would-be antitrust reformers—most recently given voice by Sen. Josh Hawley (R-Mo.) during a June hearing of the Senate Judiciary Committee’s antitrust subcommittee—is that “big is bad.” The claim suffers first and foremost from conceptual ambiguity. Big in what sense? Market share? Revenue? Headcount? Asset size? Geographic scope? ... Big Isn’t Necessarily Bad
Truth Cartels? The DOJ’s Misguided Leap into Viewpoint Regulation
In a surprising move, the U.S. Justice Department’s (DOJ) Antitrust Division has thrown its weight behind a lawsuit that could reshape how courts—and antitrust enforcers—think about competition in digital media. The agency’s statement of interest filed last month in Children’s Health Defense v. Washington Post doesn’t merely take up the legal merits of a questionable ... Truth Cartels? The DOJ’s Misguided Leap into Viewpoint Regulation
New State Merger-Review Laws Could Harm US Economy
Various states are ramping up their review of proposed mergers and acquisitions. Both Washington and Colorado have enacted new pre-merger notification statutes that will take effect this summer, and other states have introduced or are considering similar legislation. These changes could impose major new costs on potential merging parties and harm the U.S. economy. In ... New State Merger-Review Laws Could Harm US Economy
A Hipster and a Hillbilly Walk into a Bar
A curious political convergence has been reshaping U.S. antitrust policy. Conservative populists have found common cause with the so-called “neo-Brandeisians” of the left—named for the late Supreme Court Justice Louis Brandeis—in seeking to challenge big business, particularly the tech giants. While both cohorts’ concerns about concentrated power deserve attention, their shared willingness to abandon the ... A Hipster and a Hillbilly Walk into a Bar
From A to Y: Antitrust Notes from the ABA and Y Combinator
April 4 marked the end of a notable week in global competition policy. The American Bar Association’s (ABA) Antitrust Section held its annual spring meeting, while Y Combinator hosted a virtual “Little Tech Competition Summit.” At the same time, Congress held two competition hearings, the U.S. Justice Department (DOJ) hosted an event on competition and ... From A to Y: Antitrust Notes from the ABA and Y Combinator
Firing Independent Agency Leaders – Good Law, Sound Policy
President Donald Trump dismissed Alvaro Bedoya and Rebecca Slaughter last month as members of the Federal Trade Commission (FTC), citing his authority under Article II of the U.S. Constitution. The two former commissioners responded that the dismissals were illegal and that they would sue for reinstatement. It is likely that, after all the litigation dust ... Firing Independent Agency Leaders – Good Law, Sound Policy
Lina’s Lingering Legacy?
First and foremost, a belated Happy New Year, tout le monde. I have just flown home from France and boy are my arms fatigués. I was in Paris for meetings and, especially, for the International Center for Law & Economics’ (ICLE) conference (co-sponsored by European University Institute’s Department of Law, IE Law School Madrid, and ... Lina’s Lingering Legacy?
Why It May Be Time to Consider a Merger Policy Reset in 2025
The Biden administration’s federal antitrust regulators—the U.S. Justice Department (DOJ) and the Federal Trade Commission (FTC)—have been widely perceived as actively discouraging mergers and acquisitions. This reflects the rejection of a longstanding bipartisan understanding that government would only oppose proposed M&A transactions that are likely to harm competition. The Biden approach arguably threatens to harm the ... Why It May Be Time to Consider a Merger Policy Reset in 2025
Deregulatory Reform, Not Antitrust, Is Key to A Vibrant US Economy
The Biden administration has emphasized “antitrust on steroids” and intrusive regulation as key elements of its economic policy. This has been counterproductive. Federal enforcers should return to prior bipartisan, less-interventionist consumer-oriented antitrust. On a parallel track, the federal government should focus on deregulatory reform to drive a competitively vibrant, faster-growing American economy. Biden Antitrust Has ... Deregulatory Reform, Not Antitrust, Is Key to A Vibrant US Economy
A European Commission Challenge to iRobot’s Acquisition Is Unjustified and Would Harm Dynamic Competition
Once again, a major competition agency, the European Commission, appears poised to take an anticompetitive enforcement action—in this case, blocking Amazon’s acquisition of consumer robotic-manufacturer iRobot. iRobot, headquartered in Bedford, Massachusetts, is an American success story: Founded in 1990 by Massachusetts Institute of Technology roboticists with the vision of making practical robots a reality, iRobot ... A European Commission Challenge to iRobot’s Acquisition Is Unjustified and Would Harm Dynamic Competition
A Consumer-Welfare-Centric Reform Agenda for the Federal Trade Commission
As we approach a presidential election year, it is time to begin developing a comprehensive reform agenda for the Federal Trade Commission (FTC). In that spirit, this post proposes 12 reforms that could be implemented by new leadership, either through unilateral action by a new chair or (in some cases) majority votes of the commission. ... A Consumer-Welfare-Centric Reform Agenda for the Federal Trade Commission
