Antitrust as Public Interest Law: Redistribution,Equity,and Social Justice

Abstract

This article proposes the use of antitrust law to reduce poverty and address inequality. It argues that the antitrust laws are sufficiently malleable to achieve such goals. The current focus of antitrust on the efficiency-only goals does not only lead to increasing inequality further but is also inconsistent with the history of antitrust. This history is presented through the lens of the public interest that emerges into the balance between private property and competition policy. Tracing the public interest at different historical moments, we get to see how it has been broad enough to encompass social welfare concerns. Over time, the public interest concern of antitrust was narrowed to exclusively cover consumer welfare and its allocative efficiency. Once we frame antitrust as public interest law, in its broadest sense, we are empowered to use it to address inequality. A proposal to do so is exposed in this article.