Antitrust Paradigm: Restoring a Competitive Economy

The book "The Antitrust Paradigm" is a guide to making the American economy more competitive at a time when tech giants have amassed vast market power. It argues that Chicago-style reforms intended to unleash competitive enterprise have instead inflated market power, harming the welfare of workers and consumers, squelching innovation, and reducing overall economic growth. Baker advocates for a middle path between laissez-faire and forced deconcentration, the revival of pro-competitive economic regulation, and the enforcement and jurisprudence can be updated for the high-tech economy.

\n Format: Hardback
\n Length: 368 pages
\n Publication date: 31 May 2019
\n Publisher: Harvard University Press
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The United States economy is facing a critical challenge of growing less competitive, particularly in the face of the immense market power held by tech giants. Large businesses have increasingly exploited their customers and suppliers, leveraging sophisticated pricing algorithms and customer data to gain substantial and persistent advantages over smaller players. In this new Gilded Age, companies such as Google and Amazon have assumed the roles of historical giants like Standard Oil and U.S. Steel.

Jonathan Baker, in his book "The Antitrust Paradigm," highlights how business practices that harm competition go unchecked, despite the law falling behind technology. The Supreme Court, influenced by the "Chicago school" of thought, has eroded the protections of antitrust since the Reagan years, contributing to the inflation of market power and the detriment of workers, consumers, innovation, and overall economic growth.

Baker's book offers a compelling argument for a middle path between laissez-faire and forced deconcentration. He advocates for the revival of pro-competitive economic regulation, with antitrust as its backbone. Drawing on the latest empirical and theoretical economics, Baker demonstrates how enforcement and jurisprudence can be updated for the high-tech economy. His prescription is straightforward: the sooner courts and antitrust enforcement agencies stop listening to the Chicago school and start paying attention to modern economics, the sooner Americans can reap the benefits of competition.

The growing dominance of tech giants poses a significant threat to the economic well-being of the United States. It is essential to address the issues highlighted in "The Antitrust Paradigm" and implement reforms that promote competition, protect consumers, and stimulate innovation. By taking a proactive approach to antitrust enforcement and jurisprudence, the United States can regain its competitive edge and ensure a prosperous future for all.

\n Weight: 674g\n
Dimension: 238 x 152 x 30 (mm)\n
ISBN-13: 9780674975781\n \n