High-Stakes Antitrust

Abstract

After nearly twenty years of a 'less is more' approach to antitrust, the U.S. Department of Justice under the Clinton administration took action against Microsoft, Visa and Mastercard, and American Airlines. Were the antitrust activities of the later Clinton years an aberration, or do they signal a return to an era in which Washington second-guesses market outcomes rather than simply setting ground rules for competition and allowing markets to respond on their own? In High Stakes Antitrust, noted scholars with divergent opinions examine the impact and validity of the Justice Department’s actions. Some believe that changing technology and market conditions justified the Justice Department’s aggressive stance, while others argue that the Department exceeded its authority. They all agree, however, that the impact of the Clinton administration’s antitrust policies will be felt for quite some time.