Schumpeter v. Brandeis v. Chicago: The Antitrust Debate of Our Times

Tuesday, June 15, 2021 - 10:00 AM to 11:30 AM
Virtual Webinar

Antitrust is at a crossroads. The escalating techlash has brought to the fore antitrust reformers who want to reinvigorate the antimonopoly crusade of early 20th century Supreme Court Justice Louis D. Brandeis, for whom a firm’s size was a sure sign of its character. These self-proclaimed “Neo-Brandeisians” challenge the prevailing view of competition law that has long been dominated by the Chicago School, which holds up consumer welfare as its North Star and uses prices as a key navigational instrument. But while Neo-Brandeisians and Chicagoans disagree on the need to reform antitrust policy, neither places adequate emphasis on innovation. Both sides err on that critical point. As economist Joseph Schumpeter has articulated, disruptive innovation increasingly characterizes our economy. The process of what he called “creative destruction” also shapes competitive constraints. Therefore, innovation needs to be at the center of a new, dynamic approach to antitrust.

ITIF launched the Schumpeter Project on Competition Policy in the Innovation Economy and an expert panel responded to the presentation of an important ITIF report outlining a set of guiding principles for “dynamic antitrust.”

06/15/2021 10:0006/15/2021 11:30America/New_YorkITIF Event: Schumpeter v. Brandeis v. Chicago: The Antitrust Debate of Our TimesVirtual WebinarMore information:
Philippe Aghion
College de France, LSE, & INSEAD
Richard Gilbert
Professor Emeritus
UC Berkeley
Maureen K. Ohlhausen
Section Chair - Antitrust & Competition Law Partner
Baker Botts
Samuel Palmisano
Chairman & Former CEO
Center for Global Enterprise & IBM
Aurelien Portuese
Director, Antitrust and Innovation Policy
Information Technology and Innovation Foundation
David Teece
Executive Chairman
Berkeley Research Group
Robert D. Atkinson
Information Technology and Innovation Foundation
Schumpeter v. Brandeis v. Chicago: The Antitrust Debate of Our Times