On May 11, Assistant Attorney General Christine Varney announced plans to restore an aggressive enforcement policy against corporations that engage in anti-competitive behavior. Specifically, the Justice Department was revoking legal guidelines that were adopted in September 2008 that made it more difficult to pursue antitrust cases. “The recent developments in the marketplace should make it clear that we can no longer rely upon the marketplace alone to ensure that competition and consumers will be protected,” explained the new head of the Antitrust Division. This policy reversal could be a shot across the bow of the tech industry, with Google and Intel now fearing the sort of legal action that plagued Microsoft in the 1990s. But should the government be going after profitable companies during weak economic times? What makes a merger anti-competitive or a business action monopolistic? How much does antitrust enforcement ultimately benefit the consumer? Please join us for an exploration of these and other issues that lie at the intersection of legal and economic theory and practice.
Featuring Benjamin H. Friedman, Research Fellow in Defense and Homeland Security Studies, Cato Institute; Spencer Ackerman, Senior Writer, WIRED Magazine; and Julian Sanchez, Research Fellow, Cato Institute; moderated by Laura Odato, Director of Government Affairs, Cato Institute.
In the new issue of Cato Policy Report, Cato President and CEO John A. Allison argues that the Federal Reserve is increasing the long-term risk in our financial system through both its monetary and regulatory policies. Also in this issue, James D. Gwartney looks at the incomplete “public choice revolution,” and explains how mainstream economics is leaving both current students and the general public with a misleading, false, and romantic view of government and the operation of the democratic political process.
Featured BookRenowned development economist Deepak Lal draws on 50 years of experience around the globe to describe developing-country realities and rectify misguided notions about economic progress.
More Bang for Your Buck
The Cato Institute tops a new measure of think tank performance in the United States, according to a recent report. Cato bested all other U.S. think tanks in the main category of “Aggregate Profile per Dollar Spent.” “I’m grateful to the Center for Global Development for showing that Cato gives its sponsors something I wish government gave more of to taxpayers: bang for the buck,” said Cato CEO John Allison.