In this article published in Competition Policy International, Anne Layne-Farrar and co-authors, Koren W. Wong-Ervin and James Moore, discuss proposed legislation to remedy the (perceived) failures of current antitrust standards to prohibit anticompetitive conduct, particularly in high-technology markets. While efforts to address market failures are certainly worthy of discussion, the authors contend that various legislative proposals risk serious adverse consequences, including higher prices for consumers and reduced innovation and consumer choice.
This article begins with a brief discussion of the economic basis for regulation, followed by a summary of recently proposed legislation from Senators Elizabeth Warren and Amy Klobuchar. The article explores the risks posed by these draft bills through a retrospective examination of market developments following past interventions by antitrust agencies.
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