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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Antitrust and Competition

Structuring a Structural Presumption for Merger Review

Filippo Lancieri
The consumer welfare standard can’t be saved with more theory. The problem is how it works in practice, and solving that means changing the...
Antitrust and Competition

Race and the Consumer Welfare Standard

Bennett Capers
The consumer welfare standard employs a collective consumer in its model when evaluating possibly anticompetitive behavior. This aggregated approach fails to recognize that such...
Antitrust and Competition

Today’s Tax Code Empowers Monopolistic Corporations. It Has Been and Can Be Different

Niko Lusiani
Niko Lusiani and Susan Holmberg write that the United States should tax profitable corporations not just to raise revenue and redistribute unequal gains but...
Antitrust and Competition

The Effective Competitive Constraint Standard

Stavros Makris
The consumer welfare standard, which broadly considers higher output and lower prices as its primary goals, is not well equipped to monitor the numerous...
Antitrust and Competition

Locating Competitive Process Claims in the Consumer Welfare Debate

Andrew I. Gavil
Debates about the consumer welfare standard have failed to produce a consensus around either its scope or an alternative standard. Regardless of the outcome...
Antitrust and Competition

The Life of Antitrust’s Consumer Welfare Model

Herbert Hovenkamp
“Consumer welfare” as an objective of antitrust law and regulation has its origins in several vague and even conflicting ideas of how to evaluate...
Commentary

Corporate Political Responsibility in a Captured Economy

Claudine Schneider
Most attention on corporate governance has focused on businesses’ social responsibility. Claudine Schneider and Ed Dolan write that businesses need to take into account...
Antitrust and Competition

Meta-Within Should Be Viewed in the Context of Meta’s Broader Efforts To Monopolize Social Networking

Brandon Nye
A California court recently denied the FTC’s motion to block the Meta-Within merger. Brandon Nye writes that the FTC could have expanded its argument...
Antitrust and Competition

Data, Context and Competition Policy

Elettra Bietti
Data has a tendency to be misunderstood. It is often compared to a raw material like oil, waste, or capital. Elettra Bietti argues that...
Commentary

A Directorship at a Federal Reserve Bank is Good News for Banks, but May be Bad News for the Fed

Renée Adams
Far before the collapse of SVB, I provided systematic evidence that banks appear to benefit from their directorships on Federal Reserve Banks. The fact...
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.