Posted by the U.S. Chamber of Commerce
By Sean Heather
Within the last month, Assistant Attorney General for Antitrust Makan Delrahim was reported to have said to a journalist:
I don’t measure the [DOJ] Antitrust Division’s success by the fines or convictions we get or how many cases in litigation we bring. I define U.S. antitrust law’s success as the fact that we have these innovators. We have the Googles and the Facebooks and the Microsofts and the Ubers and the Airbnbs coming out of the United States. How many of those innovative companies are coming out of Europe or Korea or China?
Much wisdom is reflected in this quote, and foreign antitrust authorities would do well to reflect on these issues. For Europe, there are five basic things that it continues to get wrong with its approach to antitrust enforcement.