News Headlines Article

CVS bought your local drugstore, mail-order pharmacy and health insurer. What’s next, your hospital?
The Washington Post

There has been a lot of talk in academic and policy circles recently about the failure of antitrust law to put the brakes on a decades-long merger wave that has consolidated industry after industry into a handful of dominant players, in the process deterring innovation and entrepreneurship, slowing economic growth and widening the income gap between the rich and everyone else. Even pro-market conservatives not known for their regulatory zeal acknowledge there is a problem.

Two new books artfully marshal the arguments and the evidence: “The Myth of Capitalism,” by Jonathan Tepper, an economist and former hedge fund trader; and “The Curse of Bigness,” by Tim Wu, a professor at Columbia Law School in New York and adviser to the Obama administration.