#303: Antitrust and Innovation

Tech Policy Podcast

TechFreedom

Technology

4.8 • 45 Ratings

🗓️ 18 October 2021

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

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Summary

The lively debate over the future of antitrust law continues. The Neo-Brandeisians want an aggressive, “big is bad” approach. The Chicago School defends the current system and its consumer-welfare standard. Which side has the better of the argument? Could it be that neither does? Aurelien Portuese, Director of ITIF’s Schumpeter Project on Competition Policy, joins the show to discuss the problems with antitrust populism, the flaws in the antitrust debate more generally, and his vision for a dynamic antitrust policy centered around innovation. In addition—naturally!—Aurelien has some thoughts to share on the great Joseph Schumpeter, the economist who popularized the term “creative destruction.” Also joining the show is TechFreedom Legal Fellow Andy Jung.

Transcript

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0:00.0	If you're the sort of person who listens to this show, you know that the future of American
0:11.9	antitrust policy is up for grabs.
0:15.8	On the one side of the populists, or Neobrandizians, although they're arguably revanchus seeking to return antitrust
0:24.2	to a more active, sociopolitical, or structuralist approach, they have the energy of a fresh,
0:31.2	young, revolutionary movement. On the other side are the defenders of the consumer welfare standard and more broadly, a light-touch
0:40.5	Chicago school approach.
0:43.8	This remains the governing regime and it's dominant in the courts, but I think it's fair
0:48.0	to say that there is an enthusiasm gap that is advantaging the advocates of the new populism
0:53.9	over the defenders of the status quo.
0:57.5	One thing I really like about our guest today is that he's bringing some freshness and some
1:03.1	sparkle to the side that's skeptical of big is bad antitrust policy. He wants to make sure
1:09.7	that the importance of innovation is not overlooked in debates about antitrust policy. He wants to make sure that the importance of innovation is not overlooked in
1:12.4	debates about antitrust, which strikes me as a very worthy goal. I think he might even argue
1:18.9	he's proposing a third way for antitrust, and I'll be interested to see if that's right and to
1:24.5	probe that claim a bit. This is the tech policy podcast. I'm Corbyn
1:29.8	Barthold. The aforementioned guest is Aurelian Portwase. He is the director of antitrust and
1:36.5	innovation policy at the Information Technology and Innovation Foundation.
1:41.8	Aurelian is also director of ITIF's Shumpeter Project.
1:46.2	That is of course Joseph Shumpeter being referred to.
1:49.4	And I hope we can talk about him and his work some today as well.
1:54.1	Also joining us is Tech Freedom's Own Andy Young.
1:57.8	The last time we had him on the show, he was Andy the law clerk.
	...

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