Two COURT cases this summer illustrate the decay of America's machine for policing competition. Telecoms and credit cards are problematic industries: concentration, prices and profits are high, and, despite the firms' rhetoric about innovation, the sophistication of the technologies being used is no better and sometimes worse than in the rest of the world. Antitrust regulators and the courts had an opportunity to review the evidence that consumers are getting a bad deal, and to consider remedies, but they fluffed it.
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