FTC

The FTC Was Correct to Withdraw the Vertical Merger Guidelines

The 2020 Vertical Merger Guidelines, now withdrawn by the FTC, did not represent sound merger policy, argues Steven Salop; rather, they were...

Antitrust Law’s Unwritten Rules of Unfair Competition

Does the Sherman Act actually “protect competition, not competitors”? An examination of the case law reveals a more nuanced picture, in which...

Missing the Forest for the Trees: A Reply to Hovenkamp and Shapiro

The Federal Trade Commission’s now-abandoned 2020 Vertical Merger Guidelines were not some ideal economic document that the FTC foolishly disregarded; rather, they...

How Will the FTC Evaluate Vertical Mergers?

The Federal Trade Commission’s recent withdrawal of its 2020 vertical merger guidelines is flatly incorrect as a matter of microeconomic theory and...

What’s Behind Amazon’s Demand that FTC Chair Lina Khan Recuse Herself?

Amazon’s attempt to get Khan to recuse herself from any antitrust investigation into the company is not the first time that a...

Why the FTC Should Consider Size in Drug Mergers

Large pharmaceutical firms retain their dominance through size-related advantages in three areas: contracting, marketing and selling, and financing. When reviewing pharmaceutical mergers,...

In FTC vs. Facebook, the Government Lost the First Round. It Could Still Win the Fight.

Despite some compelling allegations, a federal judge dismissed the FTC's antitrust complaint against Facebook due to the agency’s failure to explain how...

Why the FTC Antitrust Case Against Facebook Was Dismissed

Many of the problems with the FTC complaint against Facebook that was dismissed in court last month appear to be fixable. However,...

American History Provides a Valuable Lesson on How Monopolists Use Exclusive Deals to Fortify Their Market Power

Since the Civil War, dominant firms have widely and repeatedly used exclusive agreements to exert, expand, and fortify their market power. History...

Identifying the Market In the Facebook Antitrust Case

Facebook can be a monopolist over a cluster of noncompeting products that do not fit the standard economic definition of a “market.”...

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Economic History Series

The Fall of American Manufacturing and the Rise of Health Care

Gabriel Winant

In an excerpt from his new book The Next Shift, University of Chicago historian Gabriel Winant explores how deindustrialization and the decline...

Antitrust and Competition

Antitrust and the FTC: Franchise Restraints on Worker Mobility

Herbert Hovenkamp

As currently formulated, antitrust’s rule of reason approach is not the best tool to deal with vertical noncompete agreements that limit worker...

Antitrust and Competition

How to Make the Market for Real Estate Agents More Competitive

Sophia Gilbukh, Paul Goldsmith-Pinkham, Michael Sinkinson

Delinking buyer and seller commissions will make markets for real estate agent services more competitive, allowing buyers and sellers to negotiate commissions...

Corporate Governance

Dislocation, Dislocation, Dislocation: Covid, the Retail Crisis, and REITs

Mark Pilkington

In an excerpt from his new book Retail Recovery, retail expert and author Mark Pilkington explores the impact of the sector's decline...

Corporate Governance

Addressing Climate Change Must Begin with Verifiable Carbon Accounting

Robert Kaplan, Karthik Ramanna

Robert Kaplan and Karthik Ramanna propose a new approach for verifiable accounting on indirect corporate emissions that would apply to all corporations,...

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