A policy at peace with itself: Antitrust remedies for our concentrated, uncompetitive economy

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Frequent news of corporate mergers has generated an increased interest in antitrust issues in recent years. This paper examines the history of antitrust legislation in the U.S., discusses the longstanding debate around its purpose, and offers data to demonstrate that, in recent years, it has failed to stem the tide of corporate concentration or decreased competition—with serious consequences. The authors conclude by recommending four reforms to antitrust enforcement that should enjoy consensus.

  1. Reinvigorate the structural presumption and tighten enforcement standards for horizontal mergers.
  2. Update the Non-Horizontal Merger Guidelines
  3. Institute an enforcement regime to deal with predatory pricing
  4. Reduce the costs of antitrust enforcement

A policy at peace with itself: Antitrust remedies for our concentrated, uncompetitive economy