Prosecution by Regulation: The Changing Nature of Antitrust Enforcement

Abstract

I argue that antitrust enforcement has evolved from a court centered form of law enforcement to an agency centered form of regulation. I then use legal process and public choice theory to both explain this transformation and assess the changes occuring within the Antitrust Division and the FTC and the continuing questions of dual enforcement now that both agencies act primarily as regulatory bodies. I conclude with the organizational and enforcement changes necessary to make antitrust eforcement effective in the modern regulatory era

Keywords: antitrust, enforcement, regulation, law enforcement

JEL Classification: K20, K21, K23, L40, L41, L42, L43, L44, L51