Controlling Mergers and Market Power

"John Kwoka's latest contribution to the debate over merger enforcement in the U.S. is a powerful call for action. Bill Baer, Visiting Fellow - Governance Studies, Brookings Institute John Kwoka is one of our leading scholars in antitrust policy and industrial organization economics. His earlier book ""Mergers, Merger Control, and Remedies,"" described empirical evidence that merger control has lost its edge and that many studied mergers have harmed competition. Here he draws on that evidence and proposes a dozen inter-related policies addressing what should be done to restore or improve merger control, which is central to government antitrust enforcement. Enforcers, practitioners, judges, academics, and students around the world will want this book on their shelves and will take it down often. Joseph Farrell, Professor of Economics, University of California, Berkeley John is the rare economist who understands that the purpose of antimonopoly law is to protect our democracy and to make every individual more free, more secure, and more prosperous. John has demonstrated conclusively that the failures of the reigning philosophy of competition are not restricted to a few corners of the economy, but are systemic in nature. John has long been a leader in the fight against dangerous concentrations of power and control, and his new work continues to light the way forward. Barry Lynn, Executive Director, Open Markets Institute Professor Kwoka's most recent contribution, ""Controlling Mergers and Market Power,"" marks an important milestone in advancing the case for stronger merger enforcement. The volume makes the essential connection between economic evidence of under-enforcement in the U.S. and its likely role in creating and sustaining the problem of rising concentration. This approach gives significant weight to Kwoka's detailed policy recommendations for strengthening merger enforcement. The work provides an essential resource for enforcers, legislators, and policymakers for implementing meaningful change in an area of antitrust law that has indelible effects on competition, consumers, and workers. Diana Moss, President, American Antitrust Institute This book is important. It sets out a comprehensive program for expanding merger enforcement to stop the inevitable consolidation that has occurred over the past 30-40 years. Kwoka's agenda includes the Agencies paying attention to their own Guidelines, placing greater attention on the structural presumption, expanding enforcement of potential competition and vertical mergers. Based on the results of his own and others' studies, he also calls for the Agencies to ""just say no,"" rather than mandate remedies that turn out to be unable to prevent anticompetitive effects. I hope that enforcers read Kwoka's book and take it to heart, and legislators insist that they do. Steven Salop, Professor of Economics and Law, Georgetown University If you want a sensible menu of feasible actions to strengthen merger enforcement under the antitrust laws of the United States, John Kwoka's book - short but powerful - is a must-read. Lawrence White, Stern School of Business, New York University"