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americans love to compete. more americans strongly agreed than any other surveyed country’s residents that they like situations where they compete.1 praised in various contexts,2 competition is the backbone of us economic policy. the us supreme court observed, ‘the heart of our national economic
the virtues of competition are not among them. nonetheless to effectively advocate competition, officials must understand when competition itself is the problem’s cause, not its cure. market competition, while harming some participants, often benefits society. but does competition always benefit society? this is antitrust’s blind spot. after outlining the virtues of competition, and discussing some well accepted exceptions to competition law, this article addresses four scenarios where compe