This undisguised swipe at the states, which Posner holds responsible for the failure of his mediation in the Microsoft case, is unwarranted. During the Reagan administration, the states were just about the only entities doing anything to protect consumers' rights. I'd hate to see antitrust enforcement depend almost solely on the whim of the party controlling the White House. So the constant pursuit of that monopoly power becomes the central driving thrust of the New Economy. And the creative destruction that results from all that striving becomes the essential spur of economic growth.
Summers also compares the industrial and information economies.
That seems doubtful, coming from the senior economic official in an administration with the most active antitrust record in a generation. Rather, it seems to be a recognition of what motivates combatants in this high-stakes economic war. Posner and Summers have faith in the ability of markets to curb monopolistic practices in the short run. I don't and neither does the compelling body of opinion on the vocal antitrust side. The role of antitrust is to stop abuses by monopolists and to ensure a vibrant marketplace by tweaking the system.