What Democratic Contenders Are Missing in the Race to Revive Antitrust


The Atlantic has the article What Democratic Contenders Are Missing in the Race to Revive Antitrust. There is not enough emphasis in the article of this excerpt.

By the 2000s, the ideas of the conservative Chicago School had become mainstream in antitrust circles. Robinson-Patman, a law intended to protect small businesses, was an easy target for Chicago School critics narrowly focused on efficiency and low consumer prices. Their attacks found a receptive audience in the federal judiciary. Among insiders, Robinson-Patman is now known as “zombie law.” It remains on the books, but regulators no longer bother trying to enforce it.

The naivete of this view of ant-trust is just astounding. The trusts and monopolies can get away with whatever they want if consumer prices are not raised. Corporations have figured out that if they hammer on suppliers and employees from their position of power, the courts won’t blink an eye. Never mind that monoply practice has always been to drive competitors out by lowering prices, only to raise them after they have driven all the competitors out. Big pharma is using that tactic today in obviously obscene ways. Where are the courts if they still belioeve that raising consumer prices is the one harm worthwhile stopping?

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