LPE Originals
Seven Reactions to the FTC’s Policy Statement on Unfair Methods of Competition
Seven friends of the blog offer their initial reactions to the FTC’s recent policy statement on unfair methods of competition.
LPE Originals
The Economics of Reaction
By
Erik Peinert
The economic style of thinking has undeniably constrained progressive ambitions. Yet this framing overlooks a secondary role that the economic style plays in political life: it provides cover for explicitly conservative and reactionary arguments by cloaking them in seemingly apolitical, technical expertise.
LPE Originals
When It Comes to the History of Economics, Don’t Think like an Economist
In charting economists’ pernicious influence on public policy, Beth Popp Berman contrasts an “economic style,” which focuses on efficiency, choice, and competition, with an alternative approach that favors equality, stability, and democratic participation. But that framing is not faithful to the actual debates that took place, out of which the economic style achieved its dominance, because it gives no account of the alternative economic views and theories that were displaced.
LPE Originals
Recovering Contingency within American Antimonopoly and Democracy
William Novak’s New Democracy demonstrates that the long progressive era was devoted to a reconfiguration of the very nature of modern American capitalism. Yet we must not lose sight of the different visions of state, economy, and democracy that comprised the progressive project.
LPE Originals
The Public Benefit of Liberalizing Coordination between Small Economic Players: The Australian Experience
To conclude our symposium on Root & Branch Reconstruction in Antitrust, this post offers a glimpse into an alternative universe where horizontal coordination among small players is embraced as a social good.
LPE Originals
Can Contract Workers Organize as Joint Venture Associations?
While a properly designed association of contract workers could pass muster under current Sherman Act antitrust jurisprudence, any such association will face serious practical impediments.
LPE Originals
The Antitrust Case Against Gig Economy Labor Platforms
In the fight to regulate the gig economy, unions, workers, and their allies have only fought half the battle: they have tried to defend the definition of employment against technology-enabled erosion. Antitrust prohibitions against vertical restraints, which prevent firms from exercising control in the absence of an employment relationship, offer a complementary strategy to address the threat posed to workers by the gig economy.
LPE Originals
Merger Policy for a Fair Economy
Over the past four decades, a tidal wave of corporate mergers has resulted in industry concentration, higher prices, and reduced productive capacity. The U.S. wireless industry in the 2010s offers a case study of the public benefits of strong anti-merger law.
LPE Originals
Root and Branch Reconstruction in Antitrust: A Symposium
Given the shortcomings of the prevailing antitrust framework, a growing chorus of voices is calling for a ground-up reconstruction of competition law and policy. But what would that look like? This symposium offers an affirmative vision of the new antitrust.
LPE Originals
The Dawn of Antitrust: An Egalitarian Interpretation of the Sherman Act
The conventional interpretation of American antitrust law has neglected its democratic and egalitarian origins. As the Sherman Act’s legislative history makes evident, its primary target was the concentration of economic power, rather than coordination among workers, farmers, and other smaller producers.
LPE Originals
Towards a Media Democracy Agenda: The Lessons of C. Edwin Baker
Powerful monopolies have captured our core communication infrastructures, subjected them to the unbridled pursuit of advertising revenues, and generated profound social harms. Media democracy, as a political and intellectual project, seeks to provide solid theoretical foundations from which to understand and respond to this worsening crisis.
LPE Originals
Taking a “Whole of Government” Approach to Pharma’s Monopoly Power
Americans pay excessively high prices for prescription drugs. To make medicines more affordable, the Biden Administration must confront the pharmaceutical industry’s monopoly power.
LPE Originals
DOJ & FTC Fireside Chat: Worker Bargaining and the Antitrust Laws – 19th Century through the Present
By
LPE Editors
The Department of Justice (DOJ) Antitrust Division and the Federal Trade Commission (FTC) have announced an agenda for their upcoming virtual workshop regarding competition in labor markets. On Tuesday, December 6th, Prof. Sanjukta Paul will be engaging in a “Fireside Chat: Worker Bargaining and the Antitrust Laws – 19th Century through the Present,” in dialogue with…
LPE Originals
Fair Competition Policy without a Fair Competition Philosophy
By failing to articulate a vision of fair competition, the White House has delegated the task of moral exposition to its cabinet secretaries and agency leaders. This move may not prove fatal to the aspirations of antimonopolists, as some agencies are well positioned to do the work.
LPE Originals
Coalminers and Coordination Rights
In the two decades before the Hepburn Act’s enactment, two entities vied for the right to coordinate the price and distribution of coal. The first—a group known as the Joint Conference of Miners and Operators of the Central Competitive Field—was the child of the United Mine Workers.The second—a group of coal-hauling railroads known as the Seaboard Coal Association—was the child of J. P. Morgan and the Pennsylvania Railroad. Understanding their struggle for power (and why capitalists rather than workers won), can help us better understand the stakes of antitrust.