Obama's Antitrust Agenda
Daniel A. Crane
University of Michigan Law School
Regulation, Vol. 32, No. 3, pp. 16-20, Fall 2009
President Obama has vowed to reinvigorate U.S. antitrust enforcement, returning it to the “big is bad” legal philosophy of the early-20th century. That philosophy was displaced in mid-century by “Chicago school” legal theories that concluded that many business activities opposed by pre-Chicago law were actually good for consumers, incentivizing efficiency and lowering prices. In the past two decades, Chicago theories have been challenged by “post-Chicago” theories that, while accepting many of Chicago’s fundamental insights, assert that Chicago is overly permissive. Despite this clash between Chicago and post-Chicago thought in both academia and the judiciary, Obama’s antitrust goals are unlikely to succeed, as both Chicago and post-Chicago are highly skeptical of pre-Chicago views.
Number of Pages in PDF File: 6
Keywords: antitrust, Sherman Act
JEL Classification: D42, K21, L12, L40, L43
Date posted: October 12, 2009
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