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Ends, Means, and Antitrust
Published on June 30, 2017 at 06:40PM
Analyst Ben Thompson on the European Commission’s $2.7 billion fine levied on Google for anti-competitive behavior: The United States and European Union have, at least since the Reagan Administration, differed on this point: the U.S. is primarily concerned with consumer welfare, and the primary proxy is price. In other words, as long as prices do not increase — or even better, decrease — there is, by definition, no illegal behavior. The European Commission, on the other hand, is explicitly focused on competition: monopolistic behavior is presumed to be illegal if it restricts competitors which, in the theoretical long run, hurts consumers by restricting innovation.
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