Market power

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,...

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...

Rep. Cicilline’s Nondiscrimination Bill Would Offer a Lifeline to Independent App Developers

Contrary to the naysayers, the American Choice and Innovation Online Act won’t result in naked iPhones or iPhones cluttered with hundreds of...

The House’s Recent Spate of Antitrust Bills Would Change Big Tech as We Know It

If enacted, the five bills that were introduced in the House this month would represent the most dramatic statutory changes to US...

Freiburg and Chicago: How the Two Worlds of Neoliberalism Drifted Apart Over Market Power and Monopolies

Early neoliberals tended to view market power and monopolies as phenomena that somehow had to be reined in by an institutional framework...

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...

The Profit Paradox: “What’s Good for Firms Is Not Necessarily Good for the Workers”

In an interview with ProMarket, Jan Eeckhout discusses his new book The Profit Paradox and explains how market power brings down wages,...

Concentration in the EU: Where It is Increasing and Why

Increasing concentration is not unique to the US—recent studies show that concentration is rising in Europe as well, although to a lesser...

Congress Is Leaning Towards a Big Tech Breakup

The dominant platforms have proven themselves to be ungovernable. Behavioral remedies, especially those that require continuous oversight, might be pushed aside. The...

How the FTC Protected the Market Power of Pharmacy Benefit Managers

Pharmacy Benefit Managers (PBMs) were established in the 1960s to control drug costs but have since morphed into one of the most...

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The Aristocracy of Talent: Business Intelligence

In the following excerpt from his new book, The Aristocracy of Talent: How Meritocracy Made the Modern World, Adrian Wooldridge traces "how universities...

Why Privacy Experts Need a Place at the Antitrust Table

Antitrust enforcers have tended to stay narrowly “in their lane,” failing to engage with how data is collected and used by digital...

Assessing George Stigler’s Economic Theory of Regulation

Despite its flaws and limitations, Stigler’s seminal article on the theory of economic regulation remains an important piece of scholarship worthy of...

“Old Chicago” and Freiburg: Why Ordoliberalism Was No “German Oddity”

Both the Chicago and Freiburg schools faced systemic fragility as the crucial property of societal orders. It was this fragility that served...

The Many Faces of Stigler’s Theory of Economic Regulation: Interest Group Politics Still Thrives—But Industry Often Comes Second

Stigler treats industry groups as the heavyweights in regulatory contests. But surprisingly often groups of farmers and workers knock them for a...