Pandemics present two emergencies: a war against a pathogen and an economic recession. Historically, the US has been forced to relax its antitrust enforcement policies during its largest wartime mobilizations in order to urgently produce goods and services needed in the war effort. Likewise, when the COVID-19 pandemic began, companies should have been allowed to collaborate with each other and with the US government to adequately respond to the increased demand for healthcare goods and services. Guidance from antitrust agencies during the coronavirus pandemic suggested a willingness to allow such collaborations, but the guidance lacked specificity. This article suggests specific policies that the antitrust agencies should implement during pandemics in order to give companies confidence that they can legally engage in collaborations that will hasten the production and distribution of urgently needed healthcare goods and services. However, relaxing antitrust laws has historically caused and prolonged economic downturns. Thus, during a pandemic, the federal government should relax antitrust laws, but that relaxation could exacerbate the inevitable economic downturn caused by social distancing policies. Accordingly, this article suggests how the US government could use non-antitrust regulations to mitigate the systemic financial risk created by that relaxation in antitrust laws.

中文翻译：

---

大流行期间的竞争政策：如何在避免经济灾难的同时紧急生产医疗保健产品和服务

大流行带来了两种紧急情况：对抗病原体的战争和经济衰退。从历史上看，美国在其最大的战时动员中被迫放松其反垄断执法政策，以紧急生产战争所需的商品和服务。同样，当 COVID-19 大流行开始时，公司应该被允许相互合作并与美国政府合作，以充分应对对医疗产品和服务不断增长的需求。在冠状病毒大流行期间，反垄断机构的指导表明愿意允许这种合作，但指导缺乏特异性。本文提出了反垄断机构在大流行期间应实施的具体政策，以使公司相信他们可以合法地参与合作，从而加快急需的医疗保健产品和服务的生产和分销。然而，放宽反垄断法在历史上造成并延长了经济衰退。因此，在大流行期间，联邦政府应该放松反托拉斯法，但这种放松可能会加剧由社会疏离政策导致的不可避免的经济衰退。因此，本文建议美国政府如何利用非反垄断法规来减轻反垄断法放松所带来的系统性金融风险。从历史上看，放宽反垄断法会导致并延长经济衰退。因此，在大流行期间，联邦政府应该放松反托拉斯法，但这种放松可能会加剧由社会疏离政策导致的不可避免的经济衰退。因此，本文建议美国政府如何利用非反垄断法规来减轻反垄断法放松所带来的系统性金融风险。从历史上看，放宽反垄断法会导致并延长经济衰退。因此，在大流行期间，联邦政府应该放松反托拉斯法，但这种放松可能会加剧由社会疏离政策导致的不可避免的经济衰退。因此，本文建议美国政府如何利用非反垄断法规来减轻反垄断法放松所带来的系统性金融风险。