California’s COMPETE Act: May the Best Firm Lose
Gov. Gavin Newsom has signed Assembly Bill 1776, the so-called COMPETE Act, making California the first state to add a general prohibition on anticompetitive conduct by individual firms to its principal antitrust statute. Newsom’s announcement casts the law as a way to help small businesses and stop large companies from “shutting out competition.”
The law launches a significant experiment in antitrust federalism—the division of antitrust authority between federal and state governments. It is also one that risks replacing economically disciplined analysis with political…
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