The Limits of Antitrust in the New Economy

The rise of industrial concentration throughout the US economy has brought antitrust policy to the center of public debate. In many different sectors, a small number of large businesses are increasingly dominant. An increasing popular view amongst both academics and policymakers holds that this is a problem, one that can be reversed in large part by more aggressive antitrust enforcement. The other side of this debate normally takes a benign view of the rise of big business. Here I outline a thir