Hipster antitrust policy is actually conservative

Antitrust policy is having a moment. Led by Federal Trade Commission Chair Lina Khan, US President Joe Biden's administration is turning its attention to suspect activity not only in Big Tech and Big Oil, but also in Big Alcohol, Big Hotel and Big Concert. The rationale for this new push, however, is ambiguous: Is antitrust law a tool to protect consumers from higher prices, or to defend small...