Many ex post rationalisations of antitrust have been proposed: efficiency, freedom and fairness.
Here is an additional one based on transfers.
Governments expend resources to make individuals wealthier.
This is achieved through a variety of welfare programs, subsidies and tax measures.
A firm with monopoly power can undermine such payments by appropriating them.
Hence, societies would need antitrust laws to preserve the effectiveness of public transfers.
Some policy implications?
- Where individuals do not enjoy transfers, there is no place for antitrust;
- Where individuals enjoy transfers, there should be antitrust protection.
Applied to tech, there would be no State aid case against Apple.