Some of the President’s 72 initiatives are laudable, but many of the initiatives represent a significant superiority of the government in efforts to run the economy to their detriment.
Similarly, I applaud the White House for calling for stricter antitrust enforcement – but that enforcement should be based on consumer protection standards.
For example, you can argue that social media giants are reducing consumer welfare by devouring competitors, or that online retailers keep prices down until they have a bigger share of the market and then increase prices.
I believe that technology companies pass the consumer test and it takes a lot of analysis to make those decisions. Nevertheless, the decades-old standard is not a license for anti-competitive behavior. The radical move to brush aside in favor of “big is bad” is unnecessary and could lead to politicized enforcement and consumers face higher prices while enjoying less diverse, inferior goods and services.
The stance of the Executive Ordinance is part of the broader project shared by the populist right and progressive left to shift economic policy away from reverence for market outcomes.
Politicians from both parties argue that the game against the workers is being rigged in favor of the elites. In 2019, Hawley stated that 70% of Americans have not seen an inflation-adjusted wage increase in 30 years. In 2016, Senator Bernie Sanders announced that workers’ living standards had fallen.For many, the American dream has turned into a nightmare, ”he said.