Borkian Antitrust Under Assault

There are several ways to approach antitrust legislation and enforcement. For example, the Chicago School of Antitrust, led by Judge Robert H. Bork, advocates for increased expertise in enforcement over economic ideologies. However, it faces constant criticism for inconsistent premises and antitrust populism. Critics argue that Borkian antitrust incorporated modern economic theories into The Sherman Act, which was likely passed at the behest of small businesses. Critics also argue that Borkian antitrust relied on unrealistic assumptions, such as perfect competition and market rivalry. Neo-Brandeisians and other antitrust figures have advocated for a more populist approach, while both Democrats and Republicans acknowledge the limitations of the consumer welfare standard.With such a diverse approach to antitrust issues, we must take a closer look at the Borkian hypothesis itself, its pitfalls and potential benefits, so that we may create a better way going forward. This chapter examines issues of consumer welfare, competitiveness, and various other key matters on antitrust.