Standard Oil to Microsoft: Monopolization Cases and Their Effect on Consumers
In the last several months, the Department of Justice, FTC, and state attorneys general have filed five major complaints against Facebook and Google, the first significant monopolization cases since the Microsoft case. What can we learn from our experience with the Microsoft case as well as other monopolization cases going back to Standard Oil? Given that historical experience, can we expect the current cases to improve consumer welfare? The panel addressed the challenges presented by monopolization cases in these winner-take-all (or most) markets where technologies and market conditions are changing rapidly.
Robert Crandall, Adjunct Senior Fellow, Technology Policy Institute
Michael Katz, Professor Emeritus, University of California, Berkeley Haas School of Business and Department of Economics and Sarin Chair in Strategy and Leadership
Diana Moss, President, American Antitrust Institute
Randal Picker, James Parker Hall Distinguished Service Professor, University of Chicago Law School
Thomas Lenard (moderator), President Emeritus and Senior Fellow, Technology Policy Institute