Weekend Reading: Annie Wood Besant (1878): The Law of Population: Its Consequences and Its Bearing Upon Human Conduct and Morals

From two years ago, Liz Hipple saying very smart things about what is it stake in the debate over antitrust policy:

Liz Hipple: Understanding the Importance of Antitrust Policy for U.S. Economic Competitiveness and Consumer Choice: "Changes in antitrust policy’s presumptions about the competitive consequences of increases in concentration. Over the past 50 years, those presumptions shifted from a viewpoint that held that even modest increases in concentration would result in above-competitive prices and profits to one in which it was believed that tougher merger standards sacrificed cost efficiencies, which presumably would be passed along to consumers. While antitrust policy has moderated somewhat from that so-called Chicago school view, the FTC enforcement data from 1996 through 2011 nonetheless demonstrate that there has continued to be a shift away from merger enforcement actions in all but the most concentrated markets. Furthermore, while the latest merger guidelines, published in 2010, emphasize the multiplicity of relevant factors beyond just cost efficiencies in evaluating the likelihood of possible harms from a merger, they also further relax the thresholds for the levels and changes in concentration at which a merger might be presumed to lessen competition...

#noted #2019-10-06