AVOIDING A PIE IN THE FACE

Antitrust law has been here before. About fifty-five years ago, inflation was just beginning to creep up. Political and labor unrest characterized a national dissatisfaction with the status quo. And antitrust enforcers were pressing the law to its edges--and winning. These were just a few of the ingredients that would change US politics over the next two decades. Here, Walter offers a word of caution: tread carefully. To the extent that reformers still want to address concentrated labor markets through antitrust law, they should proceed mindful of reform's fragile political support and potential backlash.