Antitrust for the Modern Era

Antitrust law is ill-adapted to perform its modern role, which includes
securing competition in the digital-economy arena and enforcement
measures against tech-giants and online platforms. Recent academic
writings have consequently called for radical changes in antitrust law.
Some have argued that the remedies currently available under antitrust
law are insufficient, and others have even contended that new approaches to antitrust law's traditional goals are mandated. This Article
suggests that such profound changes are, for the most part, unnecessary.
The Article suggests an alternative measure. Specifically, it suggests that
much can be achieved by updating antitrust law's starting point-market definition. Adopting this new starting point requires no legislative
amendments or major shifts in the fundamental understanding of antitrust law. It can be done within existing frameworks and doctrines.
The alternative starting point suggested in this Article carries three main
benefits. First, it allows antitrust law to be readily applied in areas in
which it is currently failing. Second, it allows market definition-the
cornerstone of most antitrust analyses-to overcome a major theoretical
problem associated with it. Finally, it overcomes the practical shortcomings of the traditional starting point. Thus, the proposal in this Article
not only adjusts antitrust law to modern markets, but also streamlines
its application in traditional markets.