Abstract

http://ssrn.com/abstract=1942045
 
 

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Crony Capitalism and Antitrust


Maurice E. Stucke


University of Tennessee College of Law

October 10, 2011

CPI Antitrust Chronicle, October 2011
University of Tennessee Legal Studies Research Paper No. 164

Abstract:     
In August 2011, the United States brought a landmark antitrust lawsuit to prevent the merger of two of the nation’s four largest mobile wireless telecommunications services providers, AT&T Inc. and T‑Mobile USA, Inc. But why are so many elected officials asking the Obama administration to intercede in the Department of Justice’s lawsuit to force a settlement? Why are they approving a merger that would likely lead to higher prices, fewer jobs, less innovation, and higher taxes for their constituents? Does it have anything to do with the money they are receiving from AT&T and T-Mobile?

This Essay examines the recent lobbying efforts in the AT&T/T-Mobile merger. AT&T spent $11.69 million on political lobbying in the first six months of 2011. In addition to hefty campaign contributions, it lobbied lawmakers with $52 steaks and $15 gin-and-cucumber puree cocktails.

But lobbyists, as this Essay outlines, are not the problem. The problem is the combination of lax campaign finance rules and antitrust’s prevailing legal standard, a flexible fact-specific rule of reason.

Number of Pages in PDF File: 8

Keywords: Antitrust, Clayton Act, Lobbying, AT&T, Mergers, Rule of Reason

JEL Classification: K21, L40, L49

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Date posted: October 11, 2011 ; Last revised: January 19, 2014

Suggested Citation

Stucke, Maurice E., Crony Capitalism and Antitrust (October 10, 2011). CPI Antitrust Chronicle, October 2011; University of Tennessee Legal Studies Research Paper No. 164. Available at SSRN: http://ssrn.com/abstract=1942045

Contact Information

Maurice E. Stucke (Contact Author)
University of Tennessee College of Law ( email )
1505 W. Cumberland Ave.
Knoxville, TN 37996
United States
865-974-9816 (Phone)
HOME PAGE: http://law.utk.edu/people/maurice-e-stucke/

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