Class 3. Consumer Welfare and Other Goals I

"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."
Northern Pacific Railway Co. (1958)

All Consuming

by Economist (Jan. 29, 2022)

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)

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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.")
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