My Antitrust professor in law school was a self described libertarian, and he and others who share his views all pretty much adopt the Chicago School view on Antitrust. That view, put simply, says that corporate consolidation is fine as long as it doesn’t lead to higher prices.

This is a short-sighted view, for two reasons: first, it ignores the role of competition in fostering innovation as well as keeping prices down; and second, it doesn’t consider how a merger today may lead to higher prices tomorrow, even if for the time being priced remain low.

In short, libertarians are not necessarily pro-competition, as their antitrust doctrine shows.