Antitrust as Allocator of Coordination Rights

Abstract

The reigning antitrust paradigm has turned “competition” into a talisman, even as antitrust law has functioned in reality to allocate economic coordination rights. Thus, “competition” and its companion “efficiency” have been selectively deployed to attack disfavored forms of economic coordination, both within antitrust and without. These include horizontal coordination beyond firm boundaries, democratic market coordination, and labor unions. Yet on entirely different grounds, a specific exception to the “competitive order” has been written into the law for one type of coordination, and one type only: control over others rather cooperation with others, paradigmatically expressed by large, powerful firms.

By uclalaw