Throughout its 100-year-plus history, U.S. antitrust policy has studiously ignored the issue of global economic competitiveness. Indeed, in their zeal to maintain competitive balance between players in America’s domestic markets, U.S. antitrust enforcers have often harmed U.S. companies while helping their foreign counterparts. This has diminished U.S. international competitiveness, especially in advanced industries. The latest example is the Justice Department’s possible intervention to block Microsoft from acquiring video game maker Activision, a move that would benefit the Japanese company Sony at the expense of U.S. competitiveness.
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