When corporate giants wield their pricing power as a weapon to smash pygmies, consumers win – but only for a while. That is why regulators must be vigilant. This week, Andrew Cuomo, New York attorney general, filed an anti-trust complaint against Intel, following a case that has already led to regulatory action in Europe and Asia.

The pricing discounts that suppliers like Intel give to large volume customers are welcome, even when those discounts reinforce the inherent advantages of a market leader in an industry which, like semiconductors, relies heavily on scale economies. But if price discounts are used as a predatory weapon, prompt action is essential.