Commentary

In contrast to a recent paper that argues the decline in antitrust enforcement over recent decades is due largely to the political influence of big business, Herbert Hovenkamp argues that small businesses and trade associations have historically had more influence over antitrust policy, often lobbying for less competition and higher prices.

Hamid Mehran discusses proposals for reforming bankers' compensation to better align incentives and risk-taking. Mehran contends market-based, self-regulating compensation structures would enhance governance and financial stability more effectively than punitive bonus caps or clawbacks imposed by regulators.

Four economists discuss the trends in the global economy they are tracking in 2024

Following the Federal Trade Commission’s 2021 publication of “Nixing the Fix: An FTC Report to Congress on Repair Restrictions,” private “right to repair” cases have multiplied against companies that leverage their market power in a “primary equipment market” (e.g., tractors) to force their customers also to purchase their offerings in “aftermarkets” (e.g., tractor repairs) that otherwise would be competitive. Daniel McCuaig argues that the application of the 1992 Supreme Court decision in Eastman Kodak Co. v. Image Technical Services, Inc. to these cases misunderstands that case and improperly shields monopolists from competitive pressures, including in Epic’s recent case against Apple.

Three artificial intelligence experts at the University of Chicago disclose the trends and issues regarding AI that they'll be watching for in 2024.

Jonathan B. Baker provides his reactions to the final 2023 Merger Guidelines, including why they strengthen enforcement and where the antitrust enforcement agencies can further clarify their merger analysis.

The European Union’s Digital Markets Act (DMA), designed to regulate Big Tech, supplements current antitrust laws that pursue case-by-case analyses of business conduct with general rules to block potentially anticompetitive behaviors. Detractors criticize the DMA for its lack of nuance. Supporters applaud its general principles as a necessary bulwark against Big Tech’s market powers, which current case-by-case analysis has been unable to rein in. However, neither side appreciates the true complexity of the DMA or how its principles interact to prevent anticompetitive behavior, writes Alba Ribera Martínez.

All eyes are on labor this year. Hiba Hafiz, Boston College: 2023 was a big year for labor antitrust. We saw the rise and fall of...

Four experts on antitrust in Europe discuss the trends and cases they're watching in 2024.

Steven C. Salop evaluates the final version of the 2023 Merger Guidelines on vertical merger analysis and certain rebuttal arguments. He finds that the final Guidelines successfully incorporate developments in the economic scholarship and update antitrust enforcement with the tools to analyze non-horizontal mergers in an increasingly digital economy.