Lawmakers and regulators are calling for blanket changes to longstanding antitrust regulations to counteract what some perceive to be market dominance by a handful of large technology firms. Some lawmakers are calling for the breakup of these firms and significant business restrictions, even if these actions invariably lead to a decrease in consumer welfare. While our system of jurisprudence stresses the presumption of innocence – “it is better that ten guilty persons escape, than that one innocent suffer” – these policymakers and regulators are willing to err on what may be good conduct upfront, rather than remedy bad conduct later. These actions, if implemented, will be very costly to consumers.
This ConsumerGram is available here.