Herbert Hovenkamp: History & Presence of USA Antitrust Law | Goals & Schools of Competition & more

Prof. Herbert Hovenkamp (NYT: "the dean of American antitrust law") – James G. Dinan University Professor at the University of Pennsylvania Law School
Discussing the history and contemporary issue of US antitrust law with Prof. Herbert Hovenkamp. It is a great opportunity to ask one of the most authoritative and impactful voices in the field about the evolution and current affairs underpinning the functioning of competition in the jurisdiction-trendsetter. Herbert Hovenkamp is a legendary figure. One may agree or disagree with his position (While he was the most cited author in my thesis, today I think I disagree with quite a few of his points). Yet one cannot stop appreciating the depth and merits of his knowledge and argumentation.
We focused the conversation on digital markets. But we have also addressed a host of other issues.
I found particularly appealing Prof. Hovenkamp’s ideas about the role of economics in the current antitrust law. He identifies three main arguments of economics’ fierce critics and offers his response to these three claims.
We also looked at:
The goal/s of antitrust
The current situation in the US antitrust
The left of antitrust (Neo-Brandeis/Anti-Monopoly School)
The right of antitrust (Chicago School)
The role and ideological preferences of judiciary
The role and ideological preferences of enforcement agencies
How productive/harmful the ideological discrepancies between the institutions are
New (Draft &) Merger Guidelines
How much of resistance the agencies face when proposing new proactive tools
Two versions of Consumer Welfare Standard (pre- and post-Bork)
Did we go too far with applying (almost) religiously the Consumer Welfare Standard
Are we going too far with refuting categorically the Consumer Welfare Standard
DoJ complaint in the Apple Case and their reasoning on the application of Consumer Welfare Standard
Increasing role of polycentricity in antitrust
Using antitrust to solve broader societal problems (Swiss army knife)
Using other tools to solve antitrust problems
The Digital Markets Act
The power and the increasing impact of jurisdictions with digital authoritarian governance – should we worry, should we learn more
Is it important for a mature technologically advanced jurisdiction to be a seat for domestic Big Tech
Is there enough competition between digital platforms
The history of monopoly breakups in US antitrust: how successful the remedy was, what should we learn from it
Is search the natural monopoly and what does it mean
The role of AdTech and the prospect of AdTech related US antitrust cases
The origins of the term Antitrust “Populism”: is it offensive
The difference between “Populism” and “Progressivism” and where does the Neo-Brandeisian fit better
The populist criticism of economics: three main claims and three responses by Herbert Hovenkamp
US antitrust law after the Presidential election
Recommendations to students
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The Digital Markets Research Hub is an independent academic initiative aiming at scrutinising the functioning of competition/regulation in digital markets. We host one-to-one interviews with leading policymakers, regulators and practitioners. We also organise online mini-workshops inviting high-profile experts and academics in various fields of digital competition law & policy to discuss the most vibrant issues of the ongoing regulatory reforms in digital markets. While having our clear normative stand on the matters discussed within the hub, we value different views and invite relevant stakeholders and thinkers representing the whole spectrum of reasonable positions on how to regulate competition in digital markets. All our materials are available at YouTube channel, which you are very welcome to subscribe to. The interview is organised & conducted by Prof. Oles Andriychuk, Newcastle Law School, UK