Section 1

The continuum of political theories about Section 1:

Libertarian: don't impinge upon people's ability to make agreements with each other

• Founded on rights, not economics
• Counterargument: externalities, people not included in a contract are affected by the contract, some effects are quite harmful and should be regulated (e.g., pollution)
• Libertarian response: in the context of antitrust, selling at a higher price doesn't create an externality because people can choose whether to deal at the higher price

Populist right: unclear what they believe, writings of Josh Hawley are the best source

Center right: don't eliminate Section 1, but keep it simple

• To win a case, a plaintiff must prove actual effects, not likely effects

Center left: this is where the current approach to Section 1 lands

Progressive left (New Brandeis): an expanded version of the center left that increases the burden of proof for defendants

Maxian left: allow consolidation of firms, labor can only coordinate if firms do first