New York State Senate has just passed a wide ranging antitrust law which appears to have some serious teeth.

It eschews Robert Bork’s corrupt and hypocritical sham that ignored the whole history, and recast antitrust as something that only applied when consumers were immediately charged more money.

The changes in the law:

• It lowers the presumption of market dominance from 80%+ to 40%.
• It allows private plaintiffs to file under the law.
• It makes “Unilateral power to set wages or contractual provisions that restrict workers from moving from their current employer to a competitor,” evidence of market dominance.
• Dominant firms would forbidden from, predatory pricing.

There is a good primer here. 

This has not passed the state assembly yet, and it is not clear if “Ratfaced Andy” would sign the bill into law.

You are getting a lot of bullsh%$ about how this will harm small business, but that’s a lie.

Business who would be subject to this would people like Google, Apple, Amazon, Facebook, and dominant hospitals in a regions, who all need to be taken down for the good of society:

The New York state Senate passed legislation Monday making it easier for plaintiffs to win antimonopoly lawsuits, in the latest state-led effort to rein in large technology companies in the absence of action by Congress.

The antitrust bill was opposed by business groups and backed by unions and other critics of corporate giants such as Amazon.com Inc. and Alphabet Inc.’s Google. To become law, it must also pass the state assembly and be signed by the governor.

Monday’s 43-20 party line vote represented an incremental victory for advocates of tougher antitrust laws, who will seek to use it as a springboard to tougher laws in other states and at the federal level.

“We have a problem in this country. We have a problem that there is tremendous market power in very, very few hands,” said New York state Sen. Michael Gianaris, a Democrat and the bill’s lead sponsor, at a virtual press conference Monday. “Small startups and medium-sized businesses don’t have the opportunity to grow and innovate.”

………

Mr. Gianaris said he would continue fighting for the New York bill if it doesn’t become law during the state legislature’s current session, which ends this week. No further legislative days are scheduled this year, although more could be added.

If the bill isn’t passed this year it would have to be reintroduced next year. New York Gov. Andrew Cuomo’s office had no immediate comment.

Congress is considering changes to federal antitrust law, but those efforts haven’t advanced significantly this year as lawmakers focus on other priorities. States including Maryland and Florida have enacted new statutes aimed at powerful tech companies.

The proposed New York law takes broader aim. It would make it unlawful for a company “with a dominant position in the conduct of any business…to abuse that dominant position.” A company would generally be presumed dominant if it had a greater than 40% market share.

That is a more plaintiff-friendly standard than current U.S. antitrust laws at the federal and state level. Generally under those laws, a company is considered a monopoly if it controls two-thirds of a market, and its conduct isn’t considered anticompetitive unless it can be shown to harm consumers.

It’s very late in the session, so there is a good chance that it won’t pass this year, but it should be back next year.