University of Michigan Journal of Law Reform Volume 49 2015 The New Road to Serfdom: The Curse of Bigness and the Failure of Antitrust Carl T. Bogus Roger Williams University Follow this and additional works at: https://repository.law.umich.edu/mjlr Part of the Antitrust and Trade Regulation Commons, Banking and Finance Law Commons, and the Business Organizations Law Commons Recommended Citation Carl T. Bogus, The New Road to Serfdom: The Curse of Bigness and the Failure of Antitrust, 49 U. MICH. J. L. REFORM 1 (2015). Available at: https://repository.law.umich.edu/mjlr/vol49/iss1/1 This Article is brought to you for free and open access by the University of Michigan Journal of Law Reform at University of Michigan Law School Scholarship Repository. It has been accepted for inclusion in University of Michigan Journal of Law Reform by an authorized editor of University of Michigan Law School Scholarship Repository. For more information, please contact
[email protected]. THE NEW ROAD TO SERFDOM: THE CURSE OF BIGNESS AND THE FAILURE OF ANTITRUST Carl T. Bogus* This Article argues for a paradigm shift in modern antitrust policy. Rather than being concerned exclusively with consumer welfare, antitrust law should also be concerned with consolidated corporate power. Regulators and courts should con- sider the social and political, as well as the economic, consequences of corporate mergers. The vision that antitrust must be a key tool for limiting consolidated cor- porate power has a venerable legacy, extending back to the origins of antitrust law in early seventeenth century England, running throughout American history, and influencing the enactment of U.S.