Mission Creep: Antitrust Exemptions and Immunities as Applied to Deregulated Industries

Traditionally scholars, judges, and practitioners have viewed antitrust and regulation as alternatives.) In the not-too-distant past, certain industries were subject to a traditional mode of regulation that limited the ability of a monopoly service provider to exit, barred competitor entry, and regulated the rates and services offered by the monopoly. An administrative agency would promulgate such regulation under authority derived from federal or state legislation. The agency would confer on the industry the right to some reasonable rate of return and an exclusive right to provide service within its territory in exchange for the provision of service to all comers, agency review of rates and costs associated with providing that service, and other hurdles that limited the ability of the firms within that industry to expand into other realms or charge higher rates.