Antitrust, the body of law aimed at protecting consumers from exercises of market power, is inherently limited in what it can accomplish. Accordingly, courts and antitrust enforcers should strive to optimize the law’s effectiveness. This Legal Memorandum assesses the degree to which the Supreme Court of the United States and the federal antitrust enforcement agencies have respected the limits of antitrust and embraced an optimizing approach. It concludes that the Court under Chief Justice John Roberts has done an admirable job in attempting to maximize antitrust’s social value but that the federal enforcement agencies have not.
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