As More People Worry About Monopolies, an Economist Explains What Antitrust Can and Can’t Do

According to a growing chorus of critics, America has a “monopoly problem.” In response, pundits, politicians, and think tanks are renewing their interest in antitrust policy. But is America really dominated by monopolies? And is antitrust the answer? In a new paper, Carl Shapiro, a professor at the Haas School of Business at the University of California at Berkeley, reviews the evidence of growing concentration in the U.S. economy, discusses whether that constitutes a decline in competition, and outlines the role he sees for antitrust going forward.