Structuring Competition to Foster Socially Beneficial Innovation

Daniel A. Hanley comments on how targeted antitrust enforcement can structure market competition to promote socially beneficial innovation.

By Daniel A. Hanley^[1]

I. INNOVATION IS A NOT A UNIVERSAL SOCIETAL GOOD

The structure of market competition is determined by the governing legal regime enacted by the state. Among other things, all property rights, contracts, and methods of competition defined as tortious are explicitly or implicitly determined by the state. By structuring the ter