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Antitrust Policy and Industrial Policy: A View from the U.S

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  • White, Lawrence J.

Abstract

This paper discusses the tensions between antitrust policy and industrial policy from a U.S. perspective. In the late 1970s and the 1980s, in the wake of the slowdown of the U.S. economy and the apparent ascendancy of the Japanese economy, the pluses and minuses of a formal industrial policy were debated in the U.S.; but there was never an explicit adoption of anything that had the appearance of a formal industrial policy. Nevertheless, there is a long tradition of governmental intervention in the U.S. that is at odds with the spirit and letter of antitrust policy's pursuit of more competitive and efficient markets.After offering definitions of antitrust and of industrial policy, this paper offers details on the types of governmental intervention that are at odds with antitrust. It then provides some reflections on the reasons for these tensions and conflicts.

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Bibliographic Info

Paper provided by Regulation2point0 in its series Working paper with number 556.

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Date of creation: Jan 2008
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Handle: RePEc:reg:wpaper:556

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  1. Paul Joskow & Nancy L. Rose, 1987. "The Effects of Economic Regulation," Working papers 447, Massachusetts Institute of Technology (MIT), Department of Economics.
  2. Richard A. Posner, 1971. "Taxation by Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 22-50, Spring.
  3. Richard A. Posner, 1974. "Theories of Economic Regulation," NBER Working Papers 0041, National Bureau of Economic Research, Inc.
  4. Paul L. Joskow & Roger Noll & William Niskanen & Elizabeth E. Bailey, 1994. "Economic Regulation," NBER Chapters, in: American Economic Policy in the 1980s, pages 367-452 National Bureau of Economic Research, Inc.
  5. David F. Bradford, 1998. "The Economics of Property-Casualty Insurance," NBER Books, National Bureau of Economic Research, Inc, number brad98-1, May.
  6. Lawrence J. White, 2006. "The Residential Real Estate Brokerage Industry: What Would More Vigorous Competition Look Like?," Working Papers 06-06, New York University, Leonard N. Stern School of Business, Department of Economics.
  7. Winston, Clifford, 1993. "Economic Deregulation: Days of Reckoning for Microeconomists," Journal of Economic Literature, American Economic Association, vol. 31(3), pages 1263-89, September.
  8. repec:reg:rpubli:102 is not listed on IDEAS
  9. Paul L. Joskow, 1973. "Cartels, Competition and Regulation in the Property-Liability Insurance Industry," Bell Journal of Economics, The RAND Corporation, vol. 4(2), pages 375-427, Autumn.
  10. Noll, Roger G., 1989. "Economic perspectives on the politics of regulation," Handbook of Industrial Organization, in: R. Schmalensee & R. Willig (ed.), Handbook of Industrial Organization, edition 1, volume 2, chapter 22, pages 1253-1287 Elsevier.
  11. Blair, Roger D. & Kaserman, David L., 2009. "Antitrust Economics," OUP Catalogue, Oxford University Press, edition 2, number 9780195135350.
  12. Jacques Pelkmans, 2006. "European Industrial Policy," Bruges European Economic Policy Briefings 15, European Economic Studies Department, College of Europe.
  13. David F. Bradford, 1998. "Introduction to "Economics of Property-Casualty Insurance, The"," NBER Chapters, in: The Economics of Property-Casualty Insurance, pages 1-4 National Bureau of Economic Research, Inc.
  14. Crandall, Robert W. & Winston, Clifford, 2004. "Does Antitrust Policy Improve Consumer Welfare? Assessing the Evidence," Working paper 263, Regulation2point0.
  15. Clifford Winston, 1998. "U.S. Industry Adjustment to Economic Deregulation," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 89-110, Summer.
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