Regulators in developed economies are emboldened by a new perspective on what constitutes antitrust behavior. Those who pass regulations have become more focused on behavior that undermines fairness and balance in the marketplace, while those who enforce regulations have started to look at more than consumer prices as the cause of market imbalance, adding corporate overreach to the mix. Finally, lawsuits filed by institutions and individuals against corporations add a third level to the new antitrust perspective.
The old doctrine, known as the consumer welfare standard, monitored consumer prices and assessed penalties on companies that increased prices through questionable practices. The wider doctrine for antitrust regulation monitors corporate practices that suppress wages, stymie competition and fix prices. The new doctrine includes a focus on protection, fairness and accountability as part of the regulators’ effort to revive trust in public institutions.