Abstract and Keywords
The normative justifications for the antitrust laws differ from jurisdiction to jurisdiction. However, there is consensus in most jurisdictions today that the most important goals—if not the only goals—are to promote the welfare of consumers and enhance economic efficiency. Both efficiency and consumer welfare as rationales for antitrust enforcement can have different meanings or applications in different contexts. Important ongoing issues concern distinctions between consumer welfare and total welfare, dynamic and static efficiency, and short and long-run competitive effects. Further, it should be remembered that the rationales for antitrust enforcement have evolved over time, and it is likely that they will continue to evolve in the future.
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