Lawmakers Fail to Understand the Benefits of Economies of Scale

A year ago, President Joe Biden signed Executive Order 14036 on promoting competition in the American economy. Since then, the Department of Justice’s (DoJ) Antitrust Division and the Federal Trade Commission (FTC) have launched a single-minded crusade against “big tech” and other concentrated industries, as well as proposed mergers. The agencies appear determined to disrupt […]

CALERA’s Merger Changes Could Harm Consumers

In February 2021, Senator Amy Klobuchar (D-MN) introduced legislation designed to make it harder for corporations to engage in mergers and acquisitions. The Competition and Antitrust Law Enforcement Reform Act (CALERA) makes sweeping changes to existing antitrust law, solidifying a shift from the consumer welfare standard towards a ‘big is bad’ approach. In other words, […]