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> Probably true, but antitrust law is based on consumer welfare. I don’t believe this is true. The law doesn’t set that criteria, but rather it’s a standard of
by ViViDboarder 6y ago
> Probably true, but antitrust law is based on consumer welfare.
I don’t believe this is true. The law doesn’t set that criteria, but rather it’s a standard of interpretation known as the Chicago School. This was established far after, but is not law.
There’s a lot of debate on whether or not we should continue to maintain the standard.
https://www.law.uchicago.edu/news/reassessing-chicago-school-antitrust-law https://www.law.uchicago.edu/news/reassessing-chicago-school...
Antitrust legislation was originally established to prevent monopoly power from giving a company influence that could challenge that of government and harm democracy.
- dcolkitt 6y agoIt is an interpretation, but one explicitly endorsed by 30 years of Supreme Court precedent. Given the current composition of the court, it's unlikely that we'll ever see the consumer welfare standard overruled in our lifetime.