Last week, we spoke about the French Apple App Tracking Transparency (ATT) case released last week by the French Competition Authority. This week, let’s discuss common consumer welfare standards. While in the US, consumer welfare focuses on (short-term) price effects, in Europe, it encompasses price and non-price factors such as freedom of choice and fairness. But, in a digital age, a reset to the origins of antitrust is ongoing. Last week, FTC Acting Chairwoman Rebecca Kelly Slaughter noted that “[t]he FTC has an obligation to ensure that the economic system and the markets are not rigged to benefit the big and powerful at the expense of consumers, workers, and entrepreneurs, who rely on competitive and fair markets.” Yesterday, the White House officially nominated Professor Lina Khan as an FTC Commissioner, a proponent of a broader consumer welfare standard in the US. Is it a sign of convergence between the US and the EU? If yes, on which goals? Professor Stucke even argues happiness is a potential goal that competition authorities should consider. More broadly, is it the last days of the Chicago school and “the more economic approach”?
(source: Ecole du positif)
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