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


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

By Walter Olson. June 13, 2018.

Cato Studies

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.

The Microsoft Decision - Part 2 of 2: Prospects for the Company, Implications for Antitrust,

By Robert A. Levy. TechKnowledge No. 13. 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.