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Most people have heard the term “antitrust.” One generally thinks of huge corporations when antitrust is bandied. Many associate the word with Microsoft because of its long running antitrust battle with the government. But the antitrust laws apply to any organization, big or small, that attempts to use its monopoly or dominant market position to restrain trade. Antitrust laws are quite complex, but they can be summarized as a collection of laws that are supposed to promote fair competition that benefits consumers. The best known aspect of the antitrust laws is to prevent or limit monopolies. A monopoly can, and will, abuse its market position by charging outrageous prices or force undesirable choices simply because there is no alternative. (Remember British philosopher Lord Acton: “Absolute power corrupts absolutely.”) The penalties for violating antitrust laws can be severe, including criminal charges.

Saturday, July 28

EDITOR,

EDITOR,