8. Speaking truth to market power

1 For an overview of the (sometimes heated) debate, see John M. Newman, ‘Anti-Hipster Antitrust’, University of Miami School of Law, 16 September 2019.

2 Rutger Claassen and Anna Gerbrandy, ‘Rethinking European Competition Law: From a Consumer Welfare to a Capability Approach’, Utrecht Law Review, 2016, Vol. 12, No. 1, 1‒15.

3 Ariel Ezrachi, ‘Sponge’, Journal of Antitrust Enforcement, 2017, Vol. 5, No. 1, 49‒75.

4 See Article 3(3) of the Treaty on European Union, and Articles 7, 9, 11, and 101(3) of the Treaty on the Functioning of the European Union. See also Simon Holmes, ‘Climate Change, Sustainability and Competition Law’, draft article, 26 September 2019, available at: https://www.law.ox.ac.uk/sites/files/oxlaw/simon_holmes.pdf (accessed January 2020).

5 See Gerhard Hofmann, ‘Anchoring sustainability in competition’, 15 June 2015, by the Forschungsgruppe Ethisch-Ökologisches Rating (the Ethical Ecological Rating Research Group), part of the Goethe University Frankfurt, available at: http://blog.ethisch-oekologisches-rating.org/nachhaltigkeit-im-wettbewerb-verankern/ (accessed January 2020).

6 See Adil Abdela, Kristina Karlsson and Marshall Steinbaum, ‘Vertical integration and the Market Power Crisis’, The Roosevelt Institute Issue Brief, April 2019; Jonathan B. Baker et al., ‘Five Principles for Vertical Merger Enforcement Policy’, Georgetown Law Faculty Publications and Other Works, April 2019, available at: https://scholarship.law.georgetown.edu/facpub/2148 (accessed January 2020).

7 Letter from the Rt. Hon. Lord Tyrie to the Secretary of State for Business, Energy & Industrial Strategy, dated 21 February 2019, available at: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/781151/Letter_from_Andrew_Tyrie_to_the_Secretary_of_State_BEIS.pdf (accessed January 2020).

8 Zephyr Teachout and Lina Khan, ‘Market Structure and Political Law: A Taxonomy of Power’, Duke Journal of Constitutional Law & Public Policy, 2014, Vol. 9, No. 1, 37‒74. See also Adam Ozanne, Power and Neoclassical Economics: A Return to Political Economy in the Teaching of Economics, Palgrave Macmillan, 2015.

9 European Commission, ‘Communication on SMP guidelines’, 26 April 2018, Paragraph 3.1 (58).

10 Allison Schrager, ‘A Nobel-winning economist’s guide to taming tech monopolies’, Quartz, 27 June 2018.

11 Ioannis Lianos, ‘The Principle of Effectiveness, Competition Law Remedies and the Limits of Adjudication’, CLES Research Paper No. 6, published 10 August 2014.

12Spencer Weber Waller, ‘Antitrust and Democracy’, Loyola University Chicago School of Law, 11 December 2017.

13 Elyse Dorsey, Jan Rybnicek and Joshua D. Wright, ‘Hipster Antitrust Meets Public Choice Economics: The Consumer Welfare Standard, Rule of Law, and Rent-Seeking’, Competition Policy International, 18 April 2018.

14 ProMarket blog, ‘Restoring Antimonopoly Through Bright-Line Rules’, Stigler Center at the University of Chicago Booth School of Business, posted 26 April 2019.

15 Robert Pitofsky, ‘The Political Content of Antitrust’, University of Pennsylvania Law Review, 1979, Vol. 127, No. 4, 1051‒75.

16 Niamh Dunne, ‘Commitment Decisions in EU Competition Law, Journal of Competition Law and Economics, 2014, Vol. 10, No. 2, 399‒444.

17 Mark Zuckerberg, ‘The Internet needs new rules. Let’s start in these four areas’, Washington Post, 30 March 2019.

18 Department for Business, Energy & Industrial Strategy, ‘Corporate Governance Reform: The Government response to the green paper consultation’, published August 2017.

19 State of California Department of Justice Press release, ‘California Reaches Agreement with Tesoro to Protect Jobs and Monitor Gas Prices’, 17 May 2013.

20 Federal Communications Commission, ‘Applications of Comcast Corporation, General Electric Company and NBC Universal, Inc. for Consent to Assign Licenses and Transfer Control of Licensees’, #FCC-11–4, 20 January 2011.

21 Peter Allen and Julie Henry, ‘Revealed: how two boys blew whistle on the public school fees “ cartel ”’, The Telegraph, 13 November 2005.

22 Office of Fair Trading, ‘Schools: exchange of information on future fees’, The National Archives No. CA98/05/2006, 20 November 2006.

23 Harry First and Eleanor M. Fox, ‘Philadelphia National Bank, Globalization, and the Public Interest’, Antitrust Law Journal, 2015, Vol. 80, No. 2, 307‒52.