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- The Biden Administration’s Antitrust Changes Would Be Great for Bureaucrats – and Bad for Consumers
The Biden Administration’s Antitrust Changes Would Be Great for Bureaucrats – and Bad for Consumers
The guidelines would ignore decades of academic findings about how firm concentration can have a positive impact on consumers’ welfare.
by Veronique de Rugy Reason.com
Last month, the Department of Justice (DOJ) and Federal Trade Commission (FTC) published a draft of proposed new guidelines for mergers and acquisitions. Sounds like a problem reserved for people who sit in board rooms, right? Not exactly. Such rules will affect all of us.
If implemented, the proposal will preemptively block private sector corporate transactions with little regard for the actual impact on consumers. This power grab by progressives in President Joe Biden’s administration would shift antitrust law from standards that corporations and courts can understand to a series of vague and ambiguous “guidelines” that only give bureaucrats greater power over corporate America.