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1、 itif.org Antitrust Undone:How Competition Enforcers Are Undermining Competition JONATHAN M.BARNETT|MARCH 2026 Refashioning U.S.antitrust in the mold of the EUs weaker probative burdens and categorical prohibitions would adversely impact U.S.global competitiveness and innovative dynamism,particularl

2、y in the tech ecosystem.KEY TAKEAWAYS America pioneered antitrust,anchoring it in the consumer welfare standard.But Europes structuralist approachepitomized by the Digital Markets Actnow shapes global competition policy,challenging the U.S.model at home and abroad.Whereas the U.S.framework requires

3、proof of harm to competition and is neutral toward firm size,the EU model prioritizes decentralized markets and“fair”competition.Populists across the U.S.political spectrum now advocate for that model.The past 50 years have shown which is better.The U.S.effects-based model has coincided with dynamic

4、 cycles of creative destruction and cutting-edge technological progress,while Europes structuralist approach aligns with a growing innovation deficit.DMA-style presumptions reduce underenforcement risk but increase false positives.By condemning conduct without balancing efficiencies,they suppress sc

5、ale and scope-driven business models central to digital markets and long-term innovation.In platform markets,scale and scope can lower costs,enable ecosystems,and fund risky R&D.Structuralist merger challenges,including“killer acquisition”theories,can chill start-up exits,deter venture capital,and d

6、elay technology diffusion.This is a critical juncture for antitrust:We can preserve an evidence-based framework that balances error costs or adopt ex ante regimes favoring certain market structures.The latter would be a serious policy error in innovation-driven markets.INFORMATION TECHNOLOGY&INNOVAT