Expand the consumer welfare standard beyond price
What the document says“the consumer welfare standard must guide FTC action, but, in appropriate situations and with strong evidence, this standard must be expanded to include more factors than just price.”
The consumer welfare standard asks whether conduct harms consumers, in practice mostly through higher prices. The chapter asks that the same standard of proof used to show harm to competition also apply to the efficiencies offered to justify a practice, and separately says the agency must consider the role of government itself in maintaining market concentration, since compliance costs favor large firms.
What the document actually says“the consumer welfare standard must guide FTC action, but, in appropriate situations and with strong evidence, this standard must be expanded to include more factors than just price.”
Keep judging by harm to shoppers. But weigh more than price alone.
Antitrust asks whether shoppers are harmed. In practice that means higher prices. The book says other harms should count too.
The chapter records that conservatives disagree about the agency's role at the most basic level. It asks directly whether the Commission should enforce antitrust or even continue to exist, and notes that some conservatives think antitrust enforcement should sit solely with the Department of Justice.
No action is recorded against this proposal. That is not evidence that none has been taken. See what the tracker does not yet cover.