Preface

• Pages: vii

vii

PREFACE

Competition as a public policy value has always been an important

mission of the ABA Section of Antitrust Law, but perhaps never so much

as during the economic crisis of 2008–2009. In the face of one of the

worst economic downturns since the Great Depression, it is tempting for

public policy to turn away from the principles of competition. That is

precisely why it was so important to hold the ABA Competition as

Public Policy Symposium in May 2009, and why we are publishing this

compilation of papers, speeches, and roundtable discussions from t he

numerous distinguished authors and speakers at the Symposium.

Competition a s Public Policy examines some of the most relevant

competition policy issues in the United States and around the world. In

Chapter I, Jim Wilson provides an overview of competition as public

policy and a summary of the S ymposium. Carl Shapiro‘s keynote

remarks on competition policy in distressed industries are found in

Chapter II. In Chapter III, Alfred Kahn provides his thoughts on analysis

in predatory pricing cases. In Chapter IV, Sam Peltzman discusses the

history of government regulation in the context of the 2008–2009

economic crisis. In Chapter V, Larry White explains some of the causes

of the current financial crisis and provides his thoughts on regulatory

policy going forward. In Chapter VI, Tim Greaney explores competition

policy in the context of health care in the United States. In Chapter VII,

Andrew Renshaw examines state aid in Europe and around the world.

Competition as Public Policy also features transcripts from each

panel discussion at the May 2009 Symposium. In Chapter VIII, Ned

Cavanagh, Jonathan Baker, Alan Meese, and Sam P eltzman review the

history of competition as a basis for public policy. In Chapter IX,

Maureen Ohlhausen, Jim Bushnell, and Frank Wolak examine

deregulation in the context of airlines and electricity. In Chapter X,

Dennis Carlton, Tom Barnett, and Larry White analyze competition

policy in the financial sector. In Chapter XI, Toby Singer, Judy Feder,

Tim Greaney, David Hyman, and Mike Mikan discuss the role of

competition in the health care industry. Finally, in Chapter XII, Andrew