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Lessons For Competition Law From The Economic Crisis: Can "Too Big To Fail" Trigger Useful Antitrust Intervention?, Jesse W. Markham
Lessons For Competition Law From The Economic Crisis: Can "Too Big To Fail" Trigger Useful Antitrust Intervention?, Jesse W. Markham
Jesse Markham
This article examines whether, and the extent to which, antitrust law could contribute to a broader regulatory effort to control the too-big-to-fail problem. The article begins by exploring the nature of the problem. Against this backdrop, antitrust policy and rules are considered to evaluate whether antitrust might play a meaningful role. The article concludes that antitrust law, if vigorously enforced with attention paid to the need to avoid too-big-to-fail problems can be a useful public policy tool to address the problem, although it can come nowhere near solving it or preventing recurrences of recent systemic failures.
Lessons For Competition Law From The Economic Crisis: The Prospect For Antitrust Responses To The 'Too-Big-To-Fail' Phenomenon, Jesse Markham
Lessons For Competition Law From The Economic Crisis: The Prospect For Antitrust Responses To The 'Too-Big-To-Fail' Phenomenon, Jesse Markham
Jesse Markham
This article explores the failure of antitrust law to prevent or intercede to remedy the catastrophic failures of large enterprises. Given the historic focus of antitrust on problems relating to the dangers of out-sized business enterprise, the failure of antitrust in this regard raises interesting questons about whether its mission has drifted from the law's original intent. The article explores the current relationship between antitrust rules and "bigness" and offers a modest proposal for reviving antitrust as a public policy tool that might help to address the too-big-to-fail phenomenon.