Trust-Busting: Labor's Forgotten Cause
What is it about?
The article argues for a paradigm shift in antitrust law -- that rather than being concerned exclusively with consumer welfare, antitrust should be concerned with consolidated corporate power -- and why this matters to American workers.
Why is it important?
At present, antitrust law is concerned exclusively with consumer welfare, which is defined as total industry output and consumer prices (which are inextricably linked). Despite a venerable history to the contrary, antitrust today ignores the political and sociological implications of corporate giantism and industry consolidation. In its fixed focus on consumer welfare, antitrust law all but ignores worker welfare. Modern antitrust doctrine leads to fewer employers, lower wages, and diminished freedom for workers. It also increases the political power of corporations, which is used to weaken collective bargaining. Antitrust reform is, therefore, vital to the labor movement.
The following have contributed to this page: Prof. Carl T. Bogus