Bill Baer is a former Assistant Attorney General for Antitrust and a former Director of the FTC’s Bureau of Competition. He currently is a visiting fellow in Governance Studies at the Brookings Institution.
Bill Baer argues that the United States’ history with promoting national champions through industrial policy shows how protection and the diminution of competition often backfires on the favored companies and the state. He writes that industrial policy must complement competition policy.
In trying to get their merger approved, Penguin and Simon & Schuster claimed massive, but unverified cost savings. They also have promised that their...