Consumer welfare standard
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 as the...
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 law can...
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 to effectively...
The Roots of America’s Competition Revolution
Proponents of the current transformation in America’s competition policy managed to shape legislative reform proposals, push public antitrust agencies to boost enforcement, and successfully pressure the...
Congress’ Antitrust War On China and American Consumers
The latest bills currently debated in Congress regarding Big Tech—the US Innovation and Competition Act that was passed by the Senate this month and...
Antitrust Law’s Current Stance Toward Workers Violates Its Original Purpose to Balance Power With Powerful Firms
Antitrust law’s present-day bias against democratic cooperation and in favor of top-down corporate control has contributed more broadly to the institutional weakness and perceived...
"The Lack of Competition Has Deprived American Workers of $1.25 Trillion of Income"
French economist Thomas Philippon, author of the recent The Great Reversal, explains how Europe got to be better at free markets than the US and how...
Why the FTC Should Focus on Labor Monopsony
Economic theory tells us that firms are more likely to exploit labor market power than product market power in the United States today. And...
Editors’ Briefing: This Week in Political Economy (June 30–July 7)
Scott Pruitt resigns from the EPA; a new report finds that digital platforms are not fully complying with the EU’s new privacy rules; Google,...
Ohio v. Amex, Supply Chain Fairness, and the Inadequacy of Antitrust’s Consumer Welfare Standard
SCOTUS Forum. The University of Kentucky's Ramsi Woodcock argues that the problem with the Ohio v. Amex ruling is not that the Supreme Court got the outcome...
