Bloomberg Quotes Maurice Stucke
Lance Lambert, in his April 5th article, “Here’s How They Play Monopoly in America, and Who Wins: Market concentration in the U.S. has reached a three-decade high, while the government has opened fewer antitrust cases,” quotes Maurice Stucke.
“When you have significant economic power, that can bring political power and anti-democratic pressures,” said Maurice Stucke, a law professor at the University of Tennessee and a former Justice Department attorney. “We’re starting to see highly concentrated industries, profits accruing to a handful of firms, and fewer startups. And then you look at the impacts it could have on innovation and wealth inequality.”
The Obama administration did block several mergers in its second term, stopping mega-deals like Anthem Inc.’s merger with Cigna Corp. Stucke said the federal government needs to crack down harder on mergers, which can contribute to increased market concentration.
Stucke, who spoke at last week’s conference, said attendees were interested in how President Donald Trump might approach antitrust matters. . . .
The obvious concern, Stucke said, is that Trump will treat monopolies the way his Republican predecessor did. Still, he said, Trump could very well surprise people.
“Everyone says it’s going to be like the Bush administration,” Stucke said. “But I’m looking at Makan, and depending on who he brings in as his deputies, there could be really strong intellectual leadership. I don’t see him as an ideologue wedded to the old economic beliefs.”
The article is available here.