ABSTRACT
Concern has been expressed that U. S. antitrust law may not be well suited to regulating the "new economy." Doctrines developed to deal with competition and monopoly in smokestack industries are not well adapted, it is argued, to dealing with the dynamic economy of the 21st century. The industries differ markedly from most of the industries in which modern antitrust doctrine emerged, and particularly from industries that manufacture traditional physical goods, such as steel, automobiles, pipe, wire, aluminium, railroad cars, road building materials, and cigarettes. One of the sources of the quality problem is that in most states the attorney general runs for office independent of the governor and is thus not part of the governor's administration and as a result does not receive much support from the governor in negotiating for appropriations from the legislature. The difficult factual questions presented by new-economy antitrust cases are not limited to technical areas, unfortunately.
