GAI Response to the United States Department of Justice(“DOJ”) Antitrust Division’s Public Roundtable on Anticompetitive Regulations
Price regulation and antitrust are alternative mechanisms to control market forces in the presence of market failure.2 As the Division accurately points out in its description of this Roundtable, regulation accompanied by centralized decision making supplants competitive market processes and threatens to harm competition.3 Or, as Judge Frank H. Easterbrook succinctly states it: “Regulation displaces competition.”4 The determination of prices through the dynamic interaction of supply and demand is a fundamental characteristic of well-functioning markets. Prices serve a critical signaling function in market economies, allowing market participants to adjust their behavior in response to the relative values of goods being bought or sold.5 Government control over prices is inherently less efficient in responding to ever-changing conditions compared to the ordinary market forces that exist in competitive markets. Regulatory schemes “require centralized decisions instead of a free market process” and “set static rules devoid of the dynamic realities of the market.”6
Featured News
FTC Targets Oil Executive John Hess Over Alleged Collusion with OPEC
Sep 30, 2024 by
CPI
Chevron Clears Major Hurdle in Hess Merger as FTC Approves Antitrust Review
Sep 30, 2024 by
CPI
Germany Targets Microsoft in Latest Antitrust Action Against Big Tech
Sep 30, 2024 by
CPI
Judge Dismisses Antitrust Claims Against Thomson Reuters in Legal Search Battle
Sep 30, 2024 by
CPI
Epic Games Files Fresh Antitrust Lawsuit Targeting Google and Samsung
Sep 30, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh