Procter & Gamble

In the age of Uber and Snapchat, antitrust law needs an update

In the age of Uber and Snapchat, antitrust law needs an update

Consumer watchdog groups have denounced the pending AT&T and Time Warner merger, claiming that it would put too much power in the hands of too few.

They needn’t worry. Powerful hands are losing their grip. The gig economy, low financing rates and speedier technology have created a more accessible marketplace that requires less trust-busting by federal officials.

Every high schooler learns about the “robber barons,” the 19th century industrialists who stomped on competitors and ruled over trains, steel and oil. President McKinley launched the trust-busting era to bring down those titans. But here is what the schoolbooks leave out: During that period, consumer...

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