Excerpt from The Antitrust Paradigm (2019) that seems relevant today

Includes an update to my chapter on Competition Policy. Free to download at cepr.org/publications/books-and-reports/economic-consequences-second-trump-administration-preliminary

My new article “Trumpian Populism and the Changing Intellectual Landscape in Antitrust: Century-Old Resonances, the New Right, and the Possible End of an Era” looks at the views of current senior antitrust enforcement officials. 1/3

New Working Paper! Lucky to work with Shane Greenstein @shanegreenstein.bsky.social and Pai-Ling Yin on "New Economic Forces Behind the Value Distribution of Innovation." Abstract and link follow. lnkd.in/ew6UHk3v

Looming problems from BLS statistics politicization. Social security benefits and many long term labor market contracts are indexed to the CPI. BLS makes the CPI. Recipients care about indexed cost of living increases, a lot. /1

I recently reviewed Louis Kaplow’s book "Rethinking Merger Analysis." The review evaluates the book’s discussion of market definition, coordinated effects, entry, efficiencies, and the welfare standard. Available in The Antitrust Source or at ssrn.com/abstract=533...

Are you wondering how to make monopoly digital platforms more competitive? I have a new book with answers. Intro article here in ProMarket: www.promarket.org/2025/06/26/a...

Lunch with some DC area antitrust professors. With @profgavil.bsky.social @lancierifilippo.bsky.social Dale Collins and @stevesalop.bsky.social

While the second Trump administration's initial moves in #antitrust enforcement suggested continuity, more recent actions outside the realm of antitrust enforcement have the potential to change #competitionpolicy dramatically, explains @jbbecon.bsky.social. cepr.org/publications... #EconSky

📢 New CEPR #eBook out NOW! 📚 "The Economic Consequences of the Second Trump Administration: A Preliminary Assessment" Editors: Gary Gensler, @simonhrjohnson.bsky.social, @upanizza.bsky.social, @wederdim.bsky.social Free download: cepr.org/publications... #EconSky

I have a new book! Digital Platform Regulation. Fun analysis of what society should do to get some competition out of of our favorite gatekeeper platform. Relevant to the DMA and US antitrust remedies. And free! Download here: som.yale.edu/centers/thur...

When AAG Slater roots her “America First Antitrust” (www.justice.gov/opa/speech/a...) in “conservative values,” she recalls judicial thinking from over a century ago. 1/5

Six years old…and still worth reading 🙂

NEW: After the second Trump administration initially appeared to maintain significant continuity in antitrust enforcement, the president more recently thrust the agencies into turmoil. Those later actions create troubling risks to the economy and the rule of law, writes @jbbecon.bsky.social.

Threats to Competition Policy in the Second Trump Administration: Is Antitrust Enforcement Following Alice Down the Rabbit Hole? My new blog post: www.promarket.org/2025/04/11/t...

What do these three hypothetical examples, suggested by antitrust investigations, have in common? A thread summarizing my newly posted paper: ssrn.com/abstract=511.... 1/9

How concerns about political misuse of the antitrust laws looked as the 1st Trump admin got underway, from The Antitrust Paradigm

Just want to plant the seed: the Antitrust Law Journal, which has a wide reach, is very serious about broadening its author base--not just in terms of identity but in terms of viewpoints/perspectives. As an ed bd member I'd love to talk with potential authors who may not have considered this option!

Super interesting paper by @jbbecon.bsky.social on the policy impact of two of my antitrust idols (@timobres.bsky.social and @stevesalop.bsky.social) academic.oup.com/antitrust/ad...

Good historical perspective by Jon Baker on antitrust’s use of economists, with some pushback on the theory that they either reflect or determined the rise of neoliberalism. academic.oup.com/antitrust/ad...

Just published: How economists influence antitrust: the contributions of Tim Bresnahan, Janusz Ordover, Steve Salop, and Bobby Willig. #EconSky doi.org/10.1093/jaen...

How do economists influence antitrust? My essay frames and draws on profiles of four IO economists influential in antitrust: Tim Bresnahan (@timobres.bsky.social), Janusz Ordover, Steve Salop (@stevesalop.bsky.social), and Bobby Willig. Available at ssrn.com/abstract=4630062

@proffionasm.bsky.social explain why we think market power has grown and antitrust needs strengthening, and comment on recent papers by Carl Shapiro & Ali Yurukoglu and Nathan Miller. You can find our comment @promarket.bsky.social, here: www.promarket.org/2024/10/01/m...

My take on the Draghi report on competitiveness below. No conflict with competition at all - competition supports innovation, resilience, and healthy industrial policy. www.bruegel.org/first-glance...

Pleased to share that the fifth edition of my antitrust law casebook with Bill Kovacic and jbbecon.bsky.social has just been published. Our field is changing and the book provides updates and new perspectives. www.westacademic.com/Antitrust-La...

Our symposium has discussed the new paper, “The Political Economy of the Decline of Antitrust Enforcement in the United States.” In this article, one of the co-authors @ericposner.bsky.social responds to discussants’ critiques and comments. www.promarket.org/2024/02/16/b...

Business and economic thought instituted at least since the Reagan Revolution in the US have promoted firms’ narrowly self-interested, profit-maximizing conduct. This paradigm leads to social distrust and insufficient cooperation, @stevesalop.bsky.social explains www.promarket.org/2024/02/13/w...

Why has antitrust enforcement declined in the U.S. since the 1970s? Is it due to the preferences of voters, business influence, or an alternative explanation altogether? @jbbecon.bsky.social critiques the big business capture theory and suggests an alternative. www.promarket.org/2024/02/09/h...

Eleanor Fox evaluates “The Political Economy of the Decline of Antitrust Enforcement in the United States” by Professors Lancieri, @ericposner.bsky.social, and Zingales, praising its revelations on the depth of corporate capture while challenging its narrative. www.promarket.org/2024/02/07/t...

@sherman1890.bsky.social argues that small businesses and trade associations have historically had more influence over #antitrust policy than big business, often lobbying for less competition and higher prices. www.promarket.org/2024/02/05/t...

Why has antitrust enforcement declined in the US since the 1970s? Our new symposium will discuss findings of @ericposner.bsky.social, Luigi Zingales, and Filippo Lancieri’s paper, “The Political Economy of the Decline of Antitrust Enforcement in the United States.” www.promarket.org/2024/02/02/t...

The Antitrust Paradigm is now available in Chinese translation!

Herb, I am surprised by your strong statements here. Using your rules we would not investigate pay for delay because pharma is innovative, productivity is high, they patent, they spend on R and D, and we don’t see much collusion “The rate of innovation is high. They spend a lot of money on R&D.

Some comments on the JetBlue/Spirit merger opinion. My sense is that DOJ just barely won—the court seemed close to deciding the other way and it came close to inviting the merging firms to try again in the future. Here’s a summary. 1/6

I have posted on SSRN my My draft article for the RIO symposium on the new Merger Guidelines: "The 2023 Merger Guidelines: A Post-Chicago and Neo-Brandeisian Integration" Comments welcome! papers.ssrn.com/sol3/papers....

My comment on the new DOJ/FTC Merger Guidelines: www.promarket.org/2024/01/09/t... It explains that the MGs strengthen merger enforcement by finding common ground between post-Chicago & NeoBrandeisian approaches to reform. It also raises some questions about some details.

So was big business behind the decline of antitrust enforcement? See the debate between Eric Posner and Jon Baker in the the current Antitrust Law Journal (85 Anti.LJ 441 & 521).

Interesting pair of articles in Antitrust Law Journal this morning on the political economy of antitrust decline. Lancieri, Posner, Zingales blaming big business (85 Antitrust L.J. 441), and Jon Baker disputing it (85 Antitrust LJ 521).

Susan Athey and I just posted a note discussing the changes between the 2023 Merger Guidelines and the draft issued this summer.

USDOT settling with Southwest for $75 coupons over 2022 meltdown is a rookie mistake. That just incentivizes SW to raise price to other flyers, as shown in 1996 paper. Cost to SW is tiny, as is total benefit to customers. apnews.com/article/sout... faculty.haas.berkeley.edu/borenste/dow...

Revised version of Salop & Sturiale - Fixing "Litigating the Fix" (forthcoming Antitrust L.J.) to take Illumina into account. papers.ssrn.com/sol3/papers....

For antitrust merger guidelines aficionados: Bilal Sayyed recently interviewed Jim Rill, Paul Denis & me about the drafting of the 1992 Horizontal Merger Guidelines, with an eye toward lessons for today. Here: rethinking-antitrust.simplecast.com/episodes/6-t...

Two new papers Just published: “Not a Simple Story of Big Business Capture: An Essay on the Political Economy of Antitrust” ssrn.com/abstract=4497470   Just posted: “Four Industrial Organization Economists:  Tim Bresnahan, Janusz Ordover, Steve Salop, and Bobby Willig” ssrn.com/abstract=4630062