Showing archive for: “Clayton Act”
The Tariff Act is indeed protectionist — and that’s how Congress wants it
Although not always front page news, International Trade Commission (“ITC”) decisions can have major impacts on trade policy and antitrust law. Scott Kieff, a former ITC Commissioner, recently published a thoughtful analysis of Certain Carbon and Alloy Steel Products — a potentially important ITC investigation that implicates the intersection of these two policy areas. Scott was ... The Tariff Act is indeed protectionist — and that’s how Congress wants it
What’s hip (in antitrust) today should stay passé: Henry G. Manne on “hipster antitrust”
Today would have been Henry Manne’s 90th birthday. When he passed away in 2015 he left behind an immense and impressive legacy. In 1991, at the inaugural meeting of the American Law & Economics Association (ALEA), Manne was named a Life Member of ALEA and, along with Nobel Laureate Ronald Coase, and federal appeals court ... What’s hip (in antitrust) today should stay passé: Henry G. Manne on “hipster antitrust”
The Case for Doing Nothing About Common Ownership of Small Stakes in Competing Firms
One of the hottest antitrust topics of late has been institutional investors’ “common ownership” of minority stakes in competing firms. Writing in the Harvard Law Review, Einer Elhauge proclaimed that “[a]n economic blockbuster has recently been exposed”—namely, “[a] small group of institutions has acquired large shareholdings in horizontal competitors throughout our economy, causing them to ... The Case for Doing Nothing About Common Ownership of Small Stakes in Competing Firms
Acting AAG’s Policy Speech Sends the Wrong Signals on Antitrust Enforcement (or “a Wild Ride Back to the Fifties and Sixties”)
In a September 20 speech at the high profile Georgetown Global Antitrust Enforcement Symposium, Acting Assistant Attorney General Renata Hesse sent the wrong signals to the business community and to foreign enforcers (see here) regarding U.S. antitrust policy. Admittedly, a substantial part of her speech was a summary of existing U.S. antitrust doctrine. In certain ... Acting AAG’s Policy Speech Sends the Wrong Signals on Antitrust Enforcement (or “a Wild Ride Back to the Fifties and Sixties”)
Senate Bill Provides Remedy for Regulatory Abuse Keeping Generics Off the Market
I’d like to begin by discussing Geoff’s post on the pending legislative proposals designed to combat strategic abuse of drug safety regulations to prevent generic competition. Specifically, I’d like to address the economic incentive structure that is in effect in this highly regulated market. Like many others, I first noticed the abuse of drug safety ... Senate Bill Provides Remedy for Regulatory Abuse Keeping Generics Off the Market
Time for Congress to Consider Establishing a “SMARTER” Antitrust Merger Review Framework
On October 7, 2015, the Senate Judiciary Committee held a hearing on the “Standard Merger and Acquisition Reviews Through Equal Rules” (SMARTER) Act of 2015. As former Antitrust Modernization Commission Chair (and former Acting Assistant Attorney General for Antitrust) Deborah Garza explained in her testimony, “t]he premise of the SMARTER Act is simple: A merger ... Time for Congress to Consider Establishing a “SMARTER” Antitrust Merger Review Framework
Tim Muris on Joshua Wright
As the premier Antitrust scholar of his generation, Josh Wright’s appointment to the Federal Trade Commission promised to be noteworthy. He did not disappoint, having one of the most important and memorable tenures of any non-Chair over the 40 years that I have followed the agency closely. In numerous speeches, dissents, and a variety of other statements ... Tim Muris on Joshua Wright
Josh Wright, Commissioner-Provocateur
Much ink will be spilled at this site lauding Commissioner Joshua (Josh) Wright’s many contributions to the Federal Trade Commission (FTC), and justly so. I will focus narrowly on Josh Wright as a law and economics “provocateur,” who used his writings and speeches to “stir the pot” and subject the FTC’s actions to a law ... Josh Wright, Commissioner-Provocateur
FTC Commissioner Joshua Wright gets his competiton enforcement guidelines
Today, for the first time in its 100-year history, the FTC issued enforcement guidelines for cases brought by the agency under the Unfair Methods of Competition (“UMC”) provisions of Section 5 of the FTC Act. The Statement of Enforcement Principles represents a significant victory for Commissioner Joshua Wright, who has been a tireless advocate for ... FTC Commissioner Joshua Wright gets his competiton enforcement guidelines
Commissioner Wright on the inappropriate use of structural presumptions in merger analysis & a great ABA program on the same
The FTC recently required divestitures in two merger investigations (here and here), based largely on the majority’s conclusion that [when] a proposed merger significantly increases concentration in an already highly concentrated market, a presumption of competitive harm is justified under both the Guidelines and well-established case law.” (Emphasis added). Commissioner Wright dissented in both matters ... Commissioner Wright on the inappropriate use of structural presumptions in merger analysis & a great ABA program on the same
The Ninth Circuit botched its efficiencies analysis in the FTC v St Lukes antitrust case
Earlier this week the International Center for Law & Economics, along with a group of prominent professors and scholars of law and economics, filed an amicus brief with the Ninth Circuit seeking rehearing en banc of the court’s FTC, et al. v. St Luke’s case. ICLE, joined by the Medicaid Defense Fund, also filed an ... The Ninth Circuit botched its efficiencies analysis in the FTC v St Lukes antitrust case
Commissioner Wright Rightly Calls the Question on Section 5 Guidance
Anybody who has spent much time with children knows how squishy a concept “unfairness” can be. One can hear the exchange, “He’s not being fair!” “No, she’s not!,” only so many times before coming to understand that unfairness is largely in the eye of the beholder. Perhaps it’s unfortunate, then, that Congress chose a century ... Commissioner Wright Rightly Calls the Question on Section 5 Guidance
