Below, we have provided the full transcript of the interview with Prof. Daniel Crane, the Frederick Paul Furth Sr. Professor of Law at the University of Michigan Law School, recorded on September 8, 2021.
This interview was done as part of the Antitrust Brainstorming Board created by CPI with the support of the CCIA.
Thank you, Prof. Crane, for sharing your time for this interview with CPI.
A video of the complete interview is available HERE.
Do you think the current antitrust framework works for consumers?
Daniel CRANE:
Framework of course could mean a number of different things. If we mean the consumer welfare standard in particular, which is what lots of people mean by framework. To the extent that what antitrust policy is focused on is preventing acts that harm the competitive functioning of the market, then I think that’s actually the right framework. If the question is how has that standard been applied in fact, I think we could do a better job in some areas, particularly in horizontal mergers, which I know we’ll talk about. Then if by framework we’re including institutional arrangements, which is something I’ve long been interested in, then I think we could also do better in a number of ways. I think for example the federal agencies need more funding to do more work. I would prefer to see more public enforcement funded by Congress and less reliance on private enforcement, which I think often does not particularly serve the consumer or the
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