Antitrust and the Challenges of Competition in Digital Markets

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These are unprecedented times for antitrust concerns about the market power and conduct of big technology companies, in particular Facebook, Google, Amazon, and Apple. The companies face an onslaught of regulatory and judicial scrutiny around the world. In the United States, the Department of Justice, Federal Trade Commission, and state attorneys general are all investigating possible anticompetitive practices and/or have filed major antitrust lawsuits. Congress is pursuing multiple investigations, and the House Judiciary Committee released an extensive report last October detailing harms resulting from the alleged dominance of "online platforms." At least six bills have been introduced in Congress to expand or clarify the application of antitrust laws to "Big Tech," and vocal advocates for antitrust scrutiny of Big Tech now occupy important positions in the DOJ, the FTC, and the White House. Elsewhere in the world, the European Commission is investigating and has filed charges, and China's State Administration for Market Regulation has increased its focus on these issues. At the heart of these issues is the impact major tech platforms have on competition, competitors, the economy, our democracy, and on billions of consumers/users. Core to the consideration and resolution of these issues is the question of what role antitrust and competition law should play in addressing those impacts and whether current antitrust theory and enforcement practices are adequate for that role in the US and around the world. This seminar will closely study the development of antitrust and competition law in the United States and Europe and its application to today's digital markets. After an overview of the fundamental laws and theories underlying antitrust law, we will briefly review the evolution of antitrust theory and enforcement over the last 40 years, from the Chicago School to…