Sumary of Who Will Own Economic Populism? Biden’s New Competition Order, Antitrust Policy And Their Future:
- The matter is playing out in a broad debate about antitrust policy and what to do about tech companies, which may significantly change what America’s economy looks like.
- The order covers 72 distinct matters, some very specific and some broadly thematic.
- For example, a Wall Street Journal editorial endorsed the order to expedite deregulation of the hearing aid market by allowing Americans to purchase hearing aids over the counter rather than by prescription.
- Why are government mandates of all sorts micro-managing huge parts of the energy sector?
- Far more important than the specific items in the order itself, however, is the broader policy on competition and antitrust of which it is a part.
- The order calls on the leading antitrust agencies, the Department of Justice (DOJ) and Federal Trade Commission (FTC), to enforce the antitrust laws vigorously and “recognizes that the law allows them to challenge prior bad mergers that past Administrations did not previously challenge.
- Broadly speaking, the new call for tougher antitrust legislation is in line with many congressional Republicans.
- On the Senate side, Senator Josh Hawley (R-MO) is pushing a bill block big tech mergers and acquisitions outright.