Hipster Antitrust

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Hipster Antitrust refers to the movement to shift the focus of United States antitrust law from the maximization of consumer welfare to include other goals, such as income inequality, unemployment, and wage growth.

Description[edit]

Senator Cory Booker has been described as an ally of the Hipster Antitrust movement,[1] and has called on the United States Department of Justice Antitrust Division and Federal Trade Commission to focus their enforcement efforts more on helping workers.[2] The movement has also been called the "New Brandeis Movement", a reference to former Supreme Court Justice Louis Brandeis.[3]

The term "appeals to nostalgia for old-fashioned antitrust enforcement".[4] The term originally began as a Twitter hashtag, and rose to prominence when Senator Orrin Hatch used the term during multiple speeches on the United States Senate floor.[5][6][7][8] Some proponents of the movement believe the term is pejorative.[9]

Origin[edit]

The term was coined by Konstantin Medvedovsky,[when?][10] an attorney at Dechert, and popularized by former Federal Trade Commissioner Joshua D. Wright.[11][12]

Conferences[edit]

The term has since been the subject of both academic conferences,[13] research papers,[14] and academic journals.[15]

References[edit]

  1. ^ "US: 'Hipster Antitrust' ally joins The Senate Judiciary Committee | Competition Policy International". www.competitionpolicyinternational.com. Retrieved 2018-02-20.
  2. ^ "Booker calls on antitrust regulators to start paying attention to workers". Vox. Retrieved 2018-02-20.
  3. ^ Duhigg, Charles (2018-02-20). "The Case Against Google". The New York Times. ISSN 0362-4331. Retrieved 2018-02-20.
  4. ^ Levine, Matt (2018-09-10). "Keep Your Bitcoins in the Bank". www.bloomberg.com. Retrieved 2018-09-10.
  5. ^ "Hatch Speaks on Growing Controversy Over Antitrust Law in the Tech Sector - Press Releases - United States Senator Orrin Hatch". www.hatch.senate.gov. Retrieved 2018-02-20.
  6. ^ "Senator Leans Into Avocado Toast Trend to Make a Point". Time. Retrieved 2018-02-20.
  7. ^ Dayen, David (2017-08-07). "Orrin Hatch, the Original Antitrust Hipster, Turns on His Own Kind". The Intercept. Retrieved 2018-02-20.
  8. ^ "Hatch Speaks Again on 'Hipster Antitrust,' Delrahim Confirmation". Orrin Hatch Official site. 2018-02-20. Retrieved 2017-09-25.
  9. ^ "Amazon's Antitrust Antagonist Has a Breakthrough Idea". Retrieved 2018-09-10.
  10. ^ Medvedovsky, Kostya (2017-06-19). "Antitrust hipsterism. Everything old is cool again". @kmedved. Retrieved 2018-02-20.
  11. ^ "Do Not Mistake Orrin Hatch for #HipsterAntitrust". WIRED. Retrieved 2018-02-20.
  12. ^ "Hipster antitrust hits the Senate: The Tipline for 4 August 2017". globalcompetitionreview.com. 2017-08-04. Retrieved 2018-02-20.
  13. ^ "George Mason Law Review's 21st Annual Antitrust Symposium – Law & Economics Center". masonlec.org. Retrieved 2018-02-20.
  14. ^ Daly, Angela (2017-08-02). "Beyond 'Hipster Antitrust': A Critical Perspective on the European Commission's Google Decision". SSRN 3012437. Cite journal requires |journal= (help)
  15. ^ "Antitrust Chronicle – Hipster Antitrust | Competition Policy International". www.competitionpolicyinternational.com. Retrieved 2018-09-10.