Consumers and Citizens: The Future of the Consumer Welfare Standard in Global Merger Review

In the real world, maintaining free international trade can present significant challenges. As soon as less than full mobility of inputs and products, market imperfections, regulatory distortions, and economies of scale are introduced, there is a need for competition policy and enforcement to complement international trade policy. Also, markets of different products may be highly related to one another, even though they are extremely different from each other. This inherent network of relationships creates the necessity of intervening in certain markets to offset issues arising in other related markets.

Jesse Solomon, Gregory S. Morrison and Doni Bloomfield