The world is in economic turmoil, but the Bush administration isn't budging from its antiregulatory convictions.
The antitrust division of the U.S. Department of Justice has published a new set of guidelines that narrow the interpretation of abuse that would justify government intervention against monopolies. It is a deregulatory gift aimed at getting pesky antitrust enforcers off of the back of big business.
The new doctrine bends over backward to protect big firms from accusations of anticompetitive behavior. It requires proof that the harm done by a monopolist's actions are "disproportionately" greater than the potential gains to consumers.
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