Consumer welfare standard

Event Notes: The Consumer Welfare Standard Is Dead, Long Live the Standard

It seems that the only thing academics and policymakers can agree about regarding the Consumer Welfare Standard is that it needs reforming....

The Corruption of Consumer Welfare

The consumer welfare standard is used in modern antitrust enforcement to evaluate a merger between two firms. However, its original definition was...

The “Conspiracy” of Consumer Welfare Theory

Matt Stoller argues there was a conspiracy. It was more of an association with a singular purpose.

Q&A With FTC Chair Lina Khan: “The Word ‘Efficiency’ Doesn’t Appear Anywhere in the Antitrust Statutes”

FTC Chair Lina Khan sat down with Guy Rolnik to discuss changes in governmental posture toward antitrust enforcement, her goals as head...

Should The Competitive Process Test Replace The Consumer Welfare Standard?

Jonathan Kanter, Assistant Attorney General for the Department of Justice Antitrust Division, recently gave a speech condemning the use of the consumer...

DOJ Antitrust Head Jonathan Kanter: “We Are Making It Very Clear: We’re Going to Hold Individuals Accountable”

In an interview with ProMarket, assistant attorney general Jonathan Kanter, head of the Department of Justice’s antitrust division, explains why he believes...

The Consumer Welfare Standard and Antitrust Enforcement: a Response

Alden Abbott, former general counsel of the FTC, argues that, contrary to claims made in a recent ProMarket article, American competition is vibrant...

What Economists Mean When They Say “Consumer Welfare Standard”

Though coined by academic economists, the term “consumer welfare standard” has been captured and changed by the economic school of thought known...

Towards a More Complete Understanding of Market Power and Consumer Harm in Antitrust Law

Antitrust law currently tends to disregard non-consumer harms and the potential influence of companies on policymaking. A new paper explores how antitrust...

Populism at the FTC Upsets the Antitrust Religion of Consumer Welfare: A Reply to Sokol and Wickelgren

Institutional change, on any fundamental level, will have those that seek to defend the status quo up in arms. But in order...

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Antitrust and Competition

Antitrust Misunderstands Innovation. This is how we fix it.

Ketan Ahuja

Antitrust misunderstands innovation by focusing almost entirely on incentives to innovate to the neglect of questions regarding the ability to innovate through...

Digital Platforms

How Should the Law Tackle Rapidly Evolving Financial Technologies?

Oscar Borgogno, Giuseppe Colangelo, Cristina Poncibò

The last half-century has witnessed an explosion of technology changing how the financial landscape functions for customers and new and legacy banking...

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The Road to Hayek: A Comprehensive History of Neoliberalism’s Forefather

Bruce J. Caldwell, Hansjoerg Klausinger

In their first of two volumes, economic historians Bruce Caldwell and Hansjoerg Klausinger access new archival material to explore the first fifty...

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International Policymaking Must Evolve

Paul Tucker

In this Q&A about his new book for ProMarket, Paul Tucker explains the changing global order and the need for academics, policymakers...

ESG

Capitalism Does Not Require a Tradeoff Between Planet and Profit

Alessio Terzi

Critics of capitalism claim that the economic system incorrigibly encourages the exploitation of the planet and is thus incompatible with efforts to...