In this issue:
This issue we analyze two recent highly important antitrust court decisions. The significance of N.Car. Dental is driven home by the fact that professional licensing boards regulate nearly 1/3 of the U.S. workforce. Per Herb Hovenkamp, a key question is “how much federalism” vs. “how much national competition policy.” And FTC. v. St. Luke’s presents two possible lessons: (i) the ACA doesn’t (yet) impact antitrust analysis, and (ii) high post-merger market shares create a presumption of harm that can only be rebutted by proving a negative.
The First Critical Court Decision: North Carolina Dental
The Dental case reflects greater paternalism, protecting North Carolina citizens from their own deficient governmental decisions. Herbert Hovenkamp (University of Iowa)
As for market participants who are regulated by these boards, the Court’s novel ruling brings both potential benefits and costs. Kenneth W. Field, Michael H. Knight, & Bevin M.B. Newman (Jones Day)
North Carolina Board of Dental Examiners v. FTC: How States Will Respond to Improve Competition and Accountability in State Regulatory Boards