The Antitrust Paradigm

The names may change, but the story remains the same: From Standard Oil in the early 1900s to AT&T in the mid-1980s and Microsoft in the late 1990s, US antitrust laws have sought to temper concentrated corporate power and monopolies for the sake of consumer welfare. Today, Google, Facebook, Apple and Amazon face scrutiny for what many allege are business practices that stifle innovation, thwart new market entrants, and harm customers and suppliers. According to professor Jonathan B. Baker’s scholarly and insightful analysis, American antitrust enforcement has resulted in slow growth and wealth inequality rather than its promised consumer well-being. The time has come, he writes, for a paradigm shift that revitalizes competition in the US economy.