4 ms·
Those are pretty weak sauce. The Reason piece is lazy drive-by snark. Calling the anti-trust standards of the 20c "hipster anti-trust" is just a-historical. B
by michael1999 2y ago
Those are pretty weak sauce.
The Reason piece is lazy drive-by snark. Calling the anti-trust standards of the 20c "hipster anti-trust" is just a-historical. Blocking consolidation of national chains is hardly some crazy innovation. In fact, it was Bork who was the rebel introducing the stricter "consumer harm" standard. People might argue which is the appropriate standard -- the one invented during the 1890s to break the most powerful trusts in history, or the one invented by a Regan appointee in 1980 to replace it. But the Reason snark does nothing except claim it.
At least the WSJ makes an actual argument about consumer harm. Unfortunately, their argument is: there has been so much consolidation in distribution, we need to consolidate retail to increase their bargaining power to balance. Given the geographical nature of grocery shopping, consolidation is likely to reduce consumer bargaining power further. That the WSJ fails to acknowledge the obvious fact that the greater power of a merged entity would act on both sides of the market is bad-faith.