Radical Antitrust


"Corporations span across borders, which makes them liberating, but they are governed by a principle of profit and not democratic accountability. Instead of breaking up their economies of scale, radical antitrust is about making them accountable to the people they hold power over. Indeed, democratizing and changing the power structure of existing corporations may be the most effective pathway to an international form of democracy. Immediate policies in this direction include stakeholder representation on boards, more thoughtful limits on mergers and acquisitions, and fewer investors exerting control over multiple companies within an industry."

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Horizontal Shareholding and Antitrust Policy

Fiona Scott Morton, Herbert Hovenkamp

Antitrust, Clayton Act, Conflicts of interest, Index funds, Institutional Investors, Mergers & acquisitions, Mutual funds, Ownership, Securities enforcement

Anticompetitive Effects of Common Ownership

José Azar, Martin C. Schmalz, Isabel Tecu

Competition, Ownership, Diversification, Pricing, Antitrust, Governance, Product Market

The Agency Costs of Agency Capitalism: Activist Investors and the Revaluation of Governance Rights

Ronald J. Gilson and Jeffrey N. Gordon

agency capitalism, agency costs, activist investors, hedge funds, governance, mutual funds

Productivity and Misallocation in General Equilibrium

David Rezza Baqaee, Emmanuel Farhi

aggregation in inefficient economies

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