Lawyers, economists, and policymakers are gathering this week at the American Economic Liberties Project’s 2024 Anti-Monopoly Summit. With speakers from the Biden administration’s Federal Trade Commission (FTC) and the Department of Justice (DOJ) Antitrust Division, it will undoubtedly be a celebration of Neo-Brandeisian antitrust law interpretations that are completely divorced from economic realities and the interests of consumers.
Antitrust laws ensure competition in free and open markets, which is the foundation of any vibrant, diverse, and dynamic economy. Rather than enforcing the well-defined consumer welfare standard of antitrust law that has received decades of broad bipartisan support, the Biden administration’s FTC and DOJ Antitrust Division embrace an approach that grows the power of government bureaucrats to stop any merger or acquisition they don’t like for politically partisan reasons.
The U.S. Chamber of Commerce is a steadfast champion of healthy market competition as it not only benefits consumers through lower prices but also enables higher quality products and services, more choices, and greater innovation. The U.S. economy is the envy of the world.
The path the DOJ Antitrust Division and FTC are on should not be celebrated. The Neo-Brandeisian view serves only to undermine U.S. economic vitality and competitiveness. Check out what AELP’s conference agenda is really all about. It may seem funny, but we aren’t laughing.
