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Antitrust Policy During the Clinton Administration

  • Economics


Antitrust Policy During the Clinton Administration eScholarship provides open access, scholarly publishing services to the University of California and delivers a dynamic research platform to scholars worldwide. Competition Policy Center UC Berkeley Title: Antitrust Policy During the Clinton Administration Author: Litan, Robert E., Studies Program, Brookings Institution Shapiro, Carl, Haas School of Business and Economics Department, University of California, Berkeley Publication Date: 07-01-2001 Series: Recent Work Publication Info: Competition Policy Center Permalink: Keywords: antitrust, economics Copyright Information: All rights reserved unless otherwise indicated. Contact the author or original publisher for any necessary permissions. eScholarship is not the copyright owner for deposited works. Learn more at Litan and Shapiro on Antitrust Policy, Page 1 Antitrust Policy During the Clinton Administration∗∗∗∗ Robert E. Litan and Carl Shapiro† July 2001 1. Introduction For at least twenty years, a broad, bi-partisan consensus has prevailed regarding the goal of U.S. antitrust policy: to foster competitive markets and to control monopoly power, not to protect smaller firms from tough competition by larger corporations. The interests of consumers in lower prices and improved products are paramount. When these interests are served by large, efficient firms, even firms with substantial shares of well-defined markets, the consensus view is that antitrust policy should applaud, not stand in the way. However, when those large and powerful firms wield their power to exclude rivals in unreasonable ways, antitrust policy should act to preserve competition, both on prices and regarding product improvements stemming from innovation. Since the 1970s, these principles have been widely accepted, and antitrust law and policy have funda

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