Thursday, April 05, 2007

FTC Chair Congratulates Antitrust Modernization Commission on Final Report

Federal Trade Commission Chairman Deborah Platt Majoras congratulated the Antitrust Modernization Commission (AMC) on its Report and Recommendations, issued on April 3 after a three-year review of U.S. antitrust laws and policies.

Majoras commended the members of the AMC “for reaching consensus on certain core principles” including:

 The endorsement of free-market principles and recognition that free-market policies “have driven the success of the U.S. economy and will continue to fuel the investment and innovation that are essential to ensuring our continued welfare.”

 The conclusion that U.S. antitrust law is “sound” and that U.S. antitrust policy has achieved an appropriate focus.

 The finding that consistent application of antitrust principles will ensure the effectiveness of the antitrust laws, and that new or different antitrust rules are not needed for the high technology sector or other “new economy” industries.

The Chairman is in the process of reviewing the AMC’s report in detail and promises to consider carefully all of the recommendations.

Text of the AMC’s Report and Recommendations appears at the Antitrust Modernization Commission’s website. Text of the April 3 statement by Chairman Majoras appears at the FTC website.

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