

Class 3. Consumer Welfare and Other Goals I
Class Note
"The Sherman Act was designed to be a comprehensive charter of economic liberty aimed at preserving free and unfettered competition as the rule of trade. It rests on the premise that the unrestrained interaction of competitive forces will yield the best allocation of our economic resources, the lowest prices, the highest quality and the greatest material progress, while at the same time providing an environment conductive to the preservation of our democratic political and social institutions."
In Defense of the Consumer Welfare Standard


In Defense of the Consumer Welfare Standard, Economist (Jan. 29, 2022)
Trans-Missouri (1897)


Addyston Pipe (6th Cir. 1898)









Contemporary Debate: Noncompetes
The Federal Trade Commission proposed a new ban on noncompete clauses, which the agency says hurts workers and competition. Companies argue they protect trade secrets (Jan. 2023)



JetBlue's Proposed Acquisition of Spirit Airlines




OPTIONAL: The Best and Worst Airlines of 2022, WSJ (Jan. 18, 2023) ("JetBlue Airways finished last for the second consecutive year, a notch below budget-minded Frontier Airlines and two spots behind merger partner Spirit Airlines.")
OPTIONAL: The Best and Worst Airlines of 2021, WSJ (Jan. 18, 2022) ("JetBlue ranked last overall, down from seventh in 2020, in part due to its delays and below-average performance in on-time arrivals. Of JetBlue’s approximately 262,800 completed flights, 14.3% were delayed 45 minutes or longer.")


Source: Wall Street Journal


Source: Wall Street Journal