We must improve bailout and antitrust policies to minimize the potential for undesirable outcomes driven by political considerations.

As if commandeering the banking, finance, and auto industries were not enough, a couple of weeks ago the Obama administration decided to throw a bomb at modern antitrust law.

American hospitals have undergone substantial changes in the last quarter-century due to changes in medical technology, changes in payment policies by Medicare and other third-party payers, and new forms of competition from outpatient care and specialty hospitals. Still, the future of the hospital sector is a major issue in all...

By next year, about two-thirds of American physicians will be working as salaried employees of large groups and hospitals. This movement has been underway for years. Over the last decade, the number of independent physicians was falling by about 2% a year. But these trends are now accelerating. 

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...

The antitrust consent decree is a major weapon used by the federal government to enforce antitrust laws. In the past, consent decrees have been wielded aggressively to dissolve major corporations and to change the business practices of entire industries. In his new book Antitrust Consent Decrees in Theory and Practice...