The Consumer Welfare Standard: From The Antitrust Paradox to Hipster Antitrust

George Mason Law Review

02/16/2018 - 08:00 to 18:10

Recently, there have been a series of challenges aimed at “reinvigorating” antitrust enforcement agencies and institutions and calling into question the economic approach to antitrust. The “Hipster Antitrust” movement represents a departure from the longstanding nonpartisan consensus that rigorous economic analysis is a key ingredient to robust competition policy – a consensus that finds its roots in Robert Bork’s, The Antitrust Paradox. This latest challenge to the modern antitrust paradigm calls for the rejection of the consumer welfare standard and the incorporation of non-economic considerations, such as fairness, income inequality, and other broader social issues, into standard antitrust analysis. This symposium will highlight these current debates in the context of their application in merger policy, common ownership and passive investment, vertical restraints, and the goals of antitrust. Participants will discuss the new challenges to the modern consumer welfare oriented antitrust paradigm and suggest any necessary changes moving forward for antitrust enforcement.

 

8:00 AM  -  8:45 AM

Registration

Founders Hall Multipurpose Room

 Registered 
8:50 AM  -  9:00 AM

Welcome and Opening Remarks

All Panels will be held in Founders Hall Auditorium
 

Tommy Rucker, Symposium Editor, George Mason Law Review

Gregory Conko, Interim Executive Director, Law & Economics Center

 Registered 
9:00 AM  -  9:25 AM

Fireside Chat

SPEAKERS INCLUDE:

The Honorable Douglas H. Ginsburg, Senior Judge, US Court of Appeals for the DC Circuit and Professor of Law, George Mason University Antonin Scalia Law School

Herbert Hovenkamp, James G. Dinan University Professor, University of Pennsylvania Law School and Wharton School of the University of Pennsylvania

 Registered 
9:30 AM  -  10:45 AM

Panel 1: Merger Policy and the Consumer Welfare Standard: Time for a Change?

PANELISTS:

Wayne Dale Collins, Of Counsel, Shearman & Sterling LLP

Paul Denis, Partner, Dechert LLP

William A. Galston, Ezra K. Zilkha Chair and Senior Fellow in Governance Studies, The Brookings Institution

Michael Kades, Director of Markets and Competition Policy, Washington Center for Equitable Growth

Howard Shelanski, Partner, Davis Polk & Wardwell LLP and Professor of Law, Georgetown University Law Center

MODERATOR:

Bruce C. McCulloch, Partner, Freshfields Bruckhaus Deringer

 Registered 
11:00 AM  -  12:15 PM

Panel 2: Common Ownership and Passive Investments: The Next Frontier for Section 7?

PANELISTS:

Susan A. Creighton, Partner, Wilson Sonsini Goodrich & Rosati

Jonathan Klick, Professor of Law, University of Pennsylvania Law School

Daniel P. O’Brien, Executive Vice President, Compass Lexecon

Isabel Tecu, Associate Principal, Charles River Associates

MODERATOR:

Thomas A. Lambert, Wall Chair in Corporate Law and Governance and Professor of Law, University of Missouri School of Law

 Registered 
12:15 PM  -  1:30 PM

Luncheon Keynote Address

Keynote Speaker:

Luke M. Froeb, Deputy Assistant Attorney General for Economics, Antitrust Division, US Department of Justice

 Registered 
1:30 PM  -  2:10 PM

China Antitrust Roundtable

SPEAKERS INCLUDE:

Roger P. Alford, Deputy Assistant Attorney General for International Affairs, Antitrust Division, US Department of Justice

The Honorable Douglas H. Ginsburg, Senior Judge, US Court of Appeals for the DC Circuit and Professor of Law, George Mason University Antonin Scalia Law School

Abbot (Tad) Lipsky, Jr., Director of Competition Advocacy Program, Global Antitrust Institute and Adjunct Professor of Law, George Mason University Antonin Scalia Law School

James F. Rill, Senior Counsel, Baker Botts LLP

Jianzhong Shi, Professor of Law, Vice President of China University of Political Science and Law, Member of Expert Advisory Group of Anti-Monopoly Commission under the State Council of China

Joshua D. Wright, University Professor and Executive Director, Global Antitrust Institute, George Mason University Antonin Scalia Law School

 Registered 
2:20 PM  -  3:30 PM

Panel 3: Revisiting Vertical Antitrust Enforcement

PANELISTS:

Jonathan B. Baker, Research Professor of Law, American University Washington College of Law

Jonathan B. Sallet, Partner, Steptoe & Johnson LLP

Michael G. Vita, Acting Director of the Bureau of Economics, Federal Trade Commission

Paul Yde, Partner, Freshfields Bruckhaus Deringer LLP

MODERATOR:

Bruce H. Kobayashi, Associate Dean for Research & Faculty Development, George Mason University Antonin Scalia Law School

 Registered 
3:45 PM  -  5:00 PM

Panel 4: What are the Goals of Antitrust? What Should They Be?

PANELISTS:

Allen Grunes, Founder, The Konkurrenz Group

Diana L. Moss, President, American Antitrust Institute

Jan Rybnicek, Senior Associate, Freshfields Bruckhaus Deringer LLP

Hal Singer, Principal, Economists Incorporated, Senior Fellow, Regulatory Studies Center, The George Washington University, and Adjunct Professor, McDonough School of Business, Georgetown University

MODERATOR:

Joshua D. Wright, University Professor and Executive Director, Global Antitrust Institute, George Mason University Antonin Scalia Law School

 Registered 
5:00 PM  -  5:10 PM

Closing Remarks

 Registered 
5:10 PM  -  6:10 PM

Reception



George Mason University Antonin Scalia Law School
3351 Fairfax Drive Founders Hall Auditorium
Arlington , VA 22201
US