Antitrust is thought by some to be the bulwark of free enterprise. Without the continued vigilance of the Justice Department and the Federal Trade Commission, so the argument goes, large corporations would ruthlessly destroy their smaller rivals and soon raise prices and profits at consumers’ expense.

But antitrust has a dark side. The time for modest reform of antitrust policy has passed. Root-and-branch overhaul of what Alan Greenspan referred to a generation ago as a ‘‘jumble of economic irrationality and ignorance’’—and what modern scholarship has shown repeatedly to be a playground of special pleaders—is called for.

More on Antitrust


Where’s the Real Harm from Google, Amazon, Facebook and Apple?

By Ryan Bourne. MarketWatch. June 18, 2019.

Big Is Not Always Bad: Why We Shouldn’t Rush to Break up the Tech Giants

By Ryan Bourne. UK Telegraph. June 6, 2019.

AT&T Ruling Tells Government: It’s Not 1948 Anymore

By Walter Olson. June 13, 2018.

Cato Studies

Is This Time Different? Schumpeter, the Tech Giants, and Monopoly Fatalism

By Ryan Bourne. Policy Analysis No. 872. June 17, 2019.

Antitrust Enforcement in the Obama Administration’s First Term: A Regulatory Approach

By William F. Shughart II and Diana W. Thomas. Policy Analysis No. 739. October 22, 2013.

The Microsoft Decision - Part 1 of 2: The Appeal Ends, The Trial Resumes,

By Robert A. Levy. TechKnowledge No. 12. July 11, 2001.

Cato Reviews & Journals

Big Tech’s Big-Time, Big-Scale Problem

Geoffrey A. Manne and Justin (Gus) Hurwitz. Policy Report. May/June 2018.

The Return of Antitrust?

Alan Reynolds. Regulation. Spring 2018.

Debunking the ‘Network Effects’ Bogeyman

David S. Evans and Richard Schmalensee. Regulation. Winter 2017/2018.


A New Course for Antitrust

Featuring . June 16, 2009. Policy Forum.

Antitrust in the High-Tech Marketplace: The Real Irrational Exuberance?

Featuring . January 29, 2004. Policy Forum.