CLEN Discussion Group: How scientific is Antitrust?
In this Discussion Group, Professor Michael Jacobs will present 'How scientific is Antitrust?'.
Fifty years ago, decrying the state of Antitrust analysis as an essentially political exercise, Robert Bork observed thet most antitrust commentators of the day were "playing tennis with the net down", engaged in a game that had no rules and whose outcomes were at best whimsical and at worst anti-consumer. A lot has changed in the past fifty years. Economics has overtaken antitrust analysis, and given it a purpose and a logic that it lacked in Bork's day. But despite the clear progress brought to it by the use of economics, Antitrust remains, in important ways, a political exercise: indeterminate, uninformed, and uncertain of its footing. If it's not exactly a case of "plus ca change plus c'est la meme chose", it bears a surprisingly close resemblance to one.
Professor Michael Jacobs, DePaul University
Professor Michael Jacobs
Michael Jacobs is a leading United States antitrust scholar and Distinguished Research Professor of Law at DePaul University. He advised on the drafting of the Chinese AntiMonopoly Law and consults with antitrust enforcement agencies in the United States, Europe and Asia. In 1998–99, he was a Visiting Scholar with the Australian Competition and Consumer Commission (ACCC) and in 2000 he was the Fulbright Distinguished Chair (in competition law) for Italy. For the past 10 years, he has been a special consultant to law firm Ashurst Australia.