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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Antitrust and Competition

What Is an Effective Remedy in the Google Search Case?

Steven Salop
Steve Salop explores the basis for warranting strong remedies in the Google Search case and the set of remedies Judge Amit Mehta might consider for restoring competition in the search market by jump-starting the competitive process.
Antitrust and Competition

How Loper Bright and the End to the Chevron Doctrine Impact the FTC

Douglas Ross
Douglas Ross writes that for most of its history, the Federal Trade Commission did not rely on the Chevron doctrine to enforce its mandate to prohibit “unfair methods of competition” and “unfair or deceptive acts or practices.” Thus, Loper Bright will not significantly alter the FTC’s historical role in regulating competition. However, the Chevron doctrine could have been a useful ally to the current FTC, which under Chair Lina Khan has pursued more ambitious rulemaking, such as to ban noncompete clauses. Without the Chevron doctrine, the FTC will face a more arduous path to defending its new rules as they are challenged in the courts.
Antitrust and Competition

Taking Stock of EU’s Case Against Google Shopping Before Final Ruling

Christian Bergqvist
On September 10, the highest judicial authority in the EU, the Court of Justice, will rule on Google Shopping, closing a case opened 15 years ago and instrumental in changing the narrative on Big Tech. Christian Bergqvist summarizes the history of Google Shopping and discusses its possible outcomes.
Commentary

How Loper Bright and the End to the Chevron Doctrine Impact the NLRB

Sharon Block
Sharon Block writes that after Loper Bright, there remain many questions about how the courts will treat the discretionary rulemaking authority of the National Labor Relations Board to protect workers’ right to choose to join unions and act collectively. While precedent suggests the NLRB could retain most of its power to issue and enforce rules, the recent history of a Supreme Court that has shown little favor toward workers or government intervention suggests a narrower reading of the NLRB’s authority may be coming.
Antitrust and Competition

How Big Tech’s AI Startup Alliances Could Harm Competition

John B. Kirkwood
John B. Kirkwood explains six ways in which Big Tech’s alliances with AI startups could harm competition, making clear that the antitrust agencies have good reasonto monitor and investigate them.
Commentary

How Loper Bright and the End to the Chevron Doctrine Impact the IRS

Blaine Saito
Blaine Saito writes that the end to the Chevron deference doctrine could lead to a return to the National Muffler standard that grants judicial deference to long-standing agency rules and rules promulgated contemporaneously with Congressional statute. This may mean that the courts overturn newer taxation rules, though the Internal Revenue Code provides explicit discretionary rulemaking power to the Treasury and Internal Revenue Service, which should further limit Loper Bright’s impact on the agency.
Antitrust and Competition

Big Tech Investments in AI Startups Do Not Raise Competitive Red Flags

Vivek Ghosal
Vivek Ghosal reviews the data, economics, and market conditions of the growing artificial intelligence market and finds that it is quite dynamic in terms of evolving partnerships and firms, and is relatively competitive. Thus, Big Tech investments into AI startups do not warrant investigation by the government at this time.
Commentary

A Bottom-Up Proposal for Coordinated International AI Supervision

Oscar Borgogno
Artificial Intelligence (AI) is poised to permeate across different industry sectors, offering unprecedented opportunities alongside significant risks. Effective governance necessitates coordinated cross-border efforts to build institutional expertise, dispel misconceptions, foster innovation, and align global safety priorities. Advocating structured dialogue and a bottom-up approach, Oscar Borgogno and Alessandra Perrazzelli present a proposal which aims to avoid institutional redundancy and legal unpredictability for individuals and firms.
Antitrust and Competition

What Does the Google Antitrust Decision Mean and Where Will It Take Us?

Erik Hovenkamp
Erik Hovenkamp reviews the findings of Judge Amit Mehta’s ruling against Google for monopolizing the internet search market and discusses what the case will mean for the other ongoing Big Tech cases and the future of antitrust.
Commentary

How the Massive Google SEO Leak Plays Into the Marketplace for Search

Utsav Gandhi
Utsav Gandhi discusses the findings of the May 2024 Google SEO leak, which gave analysts a novel, albeit speculative, look into how Google might choose to promote and demote content. The findings have possible implications for businesses and news organizations struggling to compete for views and suggest that transparency could become an increasing factor in the future search market as new, artificial intelligence-powered competitors enter the market.
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The publication of the Stigler Center at The University of Chicago Booth School of Business

ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.