Monopolies and Tech Giants: The Insights You Need from Harvard Business Review by unknow

Author:unknow
Language: eng
Format: epub
Publisher: Harvard Business Review Press
Published: 2020-04-20T16:00:00+00:00

TAKEAWAYS

Market consolidation is on the rise, bringing with it several negative economic consequences. It is exacerbating income inequality among consumers and increasing wage disparities among workers, further widening between-firm inequality.

✓   The framework that has guided antitrust enforcement for the last four decades is coming under intense scrutiny, but there are multiple schools of thought regarding the best path forward.

✓   Both conservatives and progressives invoke “consumer welfare” as antitrust’s core concern, but they offer divergent interpretations of this concept. Populists regard the consumer welfare standard as inadequate because it pays no attention to the political dimension of antitrust.

✓   To reverse these troubling trends, antitrust agencies should:

Tighten the enforcement standards for horizontal mergers

Reverse mergers if evidence shows anticompetitive effects

Update their guidelines to reflect the reality that vertical integration can have anticompetitive effects

Develop new tools to deal with predatory pricing

Reduce the transaction costs of antitrust enforcement

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