Public control of business in the United States has proceeded, in most sectors of the economy, on the assumption that free, open competition in the market should be the primary regulator. It is felt that consumer welfare will be maximized by such an organization of the economy. Courts, governmental agencies, and, to a certain extent, private agencies have performed the role of ensuring that free markets are not displaced by other, less desirable alternatives.
Kenneth S. Carlston & James M. Treece,
Antitrust and the Consumer Interest,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol64/iss5/2