Below, we have provided the full transcript of the interview with Prof. John Kwoka, the Neal F. Finnegan Distinguished Professor of Economics at Northeastern University, recorded on August 25, 2021.
This interview was done as part of the Antitrust Brainstorming Board created by CPI with the support of the CCIA.
Thank you, Prof. Kwoka, 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?
I think it’s clear to more and more people that the current antitrust framework has not worked for consumerists, but it’s also really not worked for workers, for farmers, and for entrepreneurs that are interested in entering markets and competing with large firms. And the evidence for that is everywhere. There’s now more and more evidence of anti-competitive mergers that have escaped challenges and gone through the process without being prevented. There’s the near absence of enforcement against vertical mergers and there’s a reluctance to challenge the tech companies. And so they’ve grown really without sufficient scrutiny and certainly without challenges as well. And the results really are everywhere. There are higher prices and fewer choices for consumers that otherwise wouldn’t be the case. There’s less entry and dynamism in the economy. There’s adverse effects on wages and prices, prices, for example, obtained by farmers. Growing profit margins, particularly for l…