From The New York Times:
Chicago School Professor Fights ‘Chicago School’ Beliefs That Abet Big Tech
Luigi Zingales, a finance professor at the University of Chicago’s Booth School of Business is taking aim at the traditional “Chicago School” position that antitrust law should place consumer interests (e.g. lower prices) above the concerns of smaller business rivals. Lingales, and others, warn that when it comes to Big Tech, for example, this hands-off ideology is enabling a handful of massive companies to stifle competition and harm consumers. The recent slate of antitrust inquiries into Big Tech would seem to represent a sea change in how the government approaches competition law. Click here to read the article in The New York Times, and click here to read Dan Mogin and Jonathan Rubin’s analysis of how the prevailing emphasis on short-term effects as the be-all-end-all of antitrust law has removed any backstop to protect competition or consumers. A dynamic conversation is afoot about the need to roll back certain Chicago School innovations that undermine true consumer welfare.