Two meanings of dynamic competition

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This is a recording of a speech given by Aurelien Portuese at a joint Institute of Economic Affairs and Information Technology and Innovation Foundation conference called 'The Meaning of Competition: Assertive Antitrust Enforcement and The Digital Economy' on Thursday 4th November 2021.

In May 1946, Hayek delivered the seminal Stafford Little Lecture at Princeton University, laying out his influential ideas of competition as a rivalrous process by which information is discovered. Celebrating the 75th anniversary of the lecture, the conference reinvigorated Hayek’s legacy in these times of aggressive antitrust enforcement in the digital economy. Jointly organised by the Schumpeter Project on Competition Policy at the ITIF, and the IEA’s Regulatory Affairs Programme, we debated current conceptions and misconceptions of the meaning of competition in the digital era.

Aurelien Portuese is director of The Schumpeter Project on Competition Policy. The Schumpeter Project advances a dynamic framework for competition policy in which innovation is a central concern for antitrust enforcement, not a secondary consideration. He is also an adjunct professor of law at the Global Antitrust Institute of George Mason University, and at the Catholic University of Paris.

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