Dear Readers,
In this special edition of the Antitrust Chronicle® we feature pieces from contributors to CPI’s policy roundtable sessions on “Antitrust Policy in the 21st Century: Is There a Need for Reform?” held in July of this year.
The sessions touched on several key topics facing practitioners, legislators, and enforcers as we face into the third decade of this century.
Of course, top of the agenda was the question of how antitrust rules should be enforced in the digital economy. As the reports pile up, and legislators prepare to take action, the debate continues. Some authors (such as Eleanor Fox & Harry First) take the view that a regulatory approach is required, with new ex ante rules to be set and enforced by a body such as the FTC.
Others (including John Harkrider) argue that digital markets do not merit special treatment, and antitrust rules should not be used as an excuse to punish successful firms to the detriment of innovation and consumers.
Leaving aside the question of big tech, Maureen Ohlhausen also addresses the rule of antitrust in the aftermath of COVID-19. While the antitrust rules have not required any substantial modification, we can expect to see parties increasingly invoke prospective bankruptcies as justification for mergers. While this is unsurprising, enforcers must maintain a steady hand on the tiller as the economy navigates further choppy waters.
Lastly, please take the opportunity to visit the CPI website and listen to our selection of Chronicle articles in audio form from such esteemed authors as Herbert Hovenkamp, Richard Gilbert, Nicholas Banasevic, Giorgio Monti, Alison Jones, and William Kovacic among others. This is a convenient way for our readers to keep up with our recent and past articles on the go, in the gym, or at the beach.
As always, thank you to our great panel of authors and to Professor Randy Picker for skillfully moderating these roundtables.
Sincerely,
CPI Team*
*With the support of Axinn & Wilson Sonsini. CPI thanks the sponsors for their support with this Antitrust Chronicle®. CPI always strives to deliver balanced and enriching content and conversation to benefit the antitrust community worldwide.
