Washington has many agencies with specialized jurisdiction over particular markets or issues. Competition is important and desirable in all of these markets. Economic theory, backed by numerous studies, predicts that increased competition and the ensuing market forces work best for meeting consumer needs. Regulatory agencies differ, however, in the extent...

U.S. businesses increasingly are coming under scrutiny from antitrust regulators across the Atlantic. At the European Commission alone, cases have been filed or are pending against leading technology firms--including Intel, Qualcomm, Apple, Rambus, and Microsoft--as well as some of the most successful pharmaceutical companies such as Pfizer and Merck. Does...