Consumer welfare standard

The Roots of America’s Competition Revolution

Proponents of the current transformation in America’s competition policy managed to shape legislative reform proposals, push public antitrust agencies to boost enforcement, and successfully...

Congress’ Antitrust War On China and American Consumers

The latest bills currently debated in Congress regarding Big Tech—the US Innovation and Competition Act that was passed by the Senate this...

Antitrust Law’s Current Stance Toward Workers Violates Its Original Purpose to Balance Power With Powerful Firms

Antitrust law’s present-day bias against democratic cooperation and in favor of top-down corporate control has contributed more broadly to the institutional weakness and perceived...

"The Lack of Competition Has Deprived American Workers of $1.25 Trillion of Income"

French economist Thomas Philippon, author of the recent The Great Reversal, explains how Europe got to be better at free markets than the US and how...

Why the FTC Should Focus on Labor Monopsony

Economic theory tells us that firms are more likely to exploit labor market power than product market power in the United States today. And...

Editors’ Briefing: This Week in Political Economy (June 30–July 7)

Scott Pruitt resigns from the EPA; a new report finds that digital platforms are not fully complying with the EU’s new privacy rules; Google,...

Ohio v. Amex, Supply Chain Fairness, and the Inadequacy of Antitrust’s Consumer Welfare Standard

SCOTUS Forum. The University of Kentucky's Ramsi Woodcock argues that the problem with the Ohio v. Amex ruling is not that the Supreme Court got the outcome...

New Study Shows Just How Bad the US Labor Market’s Competition Problem Really Is

In recent decades, antitrust policy has all but ignored the issue of monopsony power. Yet a new paper shows that across the US economy,...

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Tech Platforms and the Antitrust Duty to Deal

Why is there a widespread view that existing American antitrust law is ill-equipped to address dominant platforms that exclude or discriminate against...

Study: the Covid-19 Eviction Moratoriums Helped Reduce Food Insecurity and Mental Stress

A new study investigates the impact of 2020 Covid-19 rental eviction moratoria on the wellbeing of US households, finding that eviction moratoria...

Cogs and Monsters: Is Economics Destined to Remain a Dismal Science?

In her bold new book Cogs and Monsters: What Economics Is, and What It Should Be, Cambridge professor Diane Coyle offers a...

Is there a “California Effect” in Data Privacy Law? Why the EU is Not the World’s Privacy Cop

It is common lore in data privacy law and other fields that stringent regulatory standards (such as the ones introduced in the...

Governments Were Forced to Restrict Civil Liberties to Deal With Covid-19. More Flexible Constitutions Could Prevent That From Becoming the New Normal

A new paper argues that exploitation of gaps within democratic constitutions during emergencies, such as the Covid-19 pandemic, has the potential to...