Declan has got it exactly right here in commenting about the antitrust circus taking place between Google and Microsoft right now as the rhetorical war between them heats up and the feds—both in Congress and at the DOJ—get more and more involved in monitoring this market:
The underlying problem is that antitrust law is so malleable that it can be bent into virtually any shape that its practitioners desire. Given nearly any set of hard-nose business practices, some economist can be hired to claim that “predatory” prices are illegally low (hurting competitors) or illegally high (hurting consumers). No wonder Lester Thurow, the former dean of MIT’s business school, concluded that “the time has come to recognize that the antitrust approach has been a failure. The costs it imposes far exceed any benefits it brings.” And no wonder that some state attorneys general are now sniffing around to see if there’s a way for them to join the antitrust hunt.
And things are only going to get worse–far, far worse–in coming months.
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