In recent months, the Federal Trade Commission (FTC) has entered a new era of politicization. Once lauded for its nonpartisan efforts to protect consumers, the new FTC is taking radical steps to empower itself and push forward a political antitrust agenda. Here’s what’s happening: — The new FTC has discarded the objective economics-based consumer welfare […]
As we saw a couple weeks ago, “big is bad” is thrown around too often and without full understanding of the nuance. However, the large scale of a company allows it to offer immense benefits to consumers. A recent Twitter thread from FTC Commissioner Christine Wilson explains how firms’ economies of scale translate to affordable goods for consumers—and […]
Late last month, FTC Commissioner Christine Wilson gave a speech at the British Institute of International and Comparative Law entitled, “Remembering Regulatory Misadventures: Taking a Page from Edmund Burke to Inform Our Approach to Big Tech.” Wilson’s speech itself—which draws on lessons learned from failed, heavy-handed regulations on the train and airline industries—is available here, […]
Yesterday, the Financial Times editorial board pointed to four areas of increased regulatory scrutiny of leading tech services: bias, privacy, intermediary liability, and antitrust. Below are key developments to help understand each issue. Additionally, it’s critical to remember that tech continues to buck trends that plague the broader economy, fueled by competition. Investment and R&D […]
This week, the FTC held its sixth in a series of hearings about competition policy in the 21st century. Below are a few highlights from some leading experts in the field. Data is a widely available resource, not a commodity Daniel Sokol, University of Florida Levin College of Law: “Big data: There’s no one company […]
As FTC hearings on competitiveness and consumer welfare continue this week, wanted to flag the Information Technology and Innovation Foundation (ITIF) new paper by senior fellow Joe Kennedy, titled, “Why The Consumer Welfare Standard Should Remain The Bedrock Of Antitrust Policy.” Kennedy’s core arguments are below. Contrary to critics, the consumer welfare standard goes well […]
On Wednesday, Assistant Attorney General Makan Delrahim spoke at the University of Haifa in Israel, saying “big platforms were once themselves start-ups,” and that regulators should “be cautious in any enforcement decision to not undermine the very innovation incentives that competition aims to protect.” Delrahim focused parts of his speech on data, raising numerous points […]
In case you missed the latest FTC hearings on competition and consumer welfare, we’ve amassed the 7 best highlights from experts. Quotes are below with the video linked. 1. Josh Wright, George Mason University Antonin Scalia Law School: Compared to the E.U., the U.S. relies on empirical evidence of actual harm, not suspicion over potential harm. […]
Below are highlights from the Senate Judiciary Committee Subcommittee on Antitrust, Competition Policy and Consumer Rights hearing with Assistant Attorney General for Antitrust Makan Delrahim and Federal Trade Commission Chairman Joe Simons. Videos are hyperlinked with the quote. Sen. Mike Lee (R-UT), Chairman of Subcommittee on Antitrust, Competition Policy and Consumer Rights: “These critics are […]
Earlier today at the Constitution Center, the Federal Trade Commission held the second hearing in its Competition and Consumer Protection in the 21st Century series. Competition policy experts from across both the country and the political spectrum convened in Washington, D.C. to discuss the current state of antitrust law. Highlights below. It’s important to remember […]
Hostility to innovation and technology diminishes the incredible Internet-enabled opportunities that leading tech services provide: empowering consumers, driving prices down and increasing choice, and providing platforms to help entrepreneurs grow their businesses. It has given us a golden era of entertainment, knowledge, and everything from fashion startups, to booming mom and pop stores, to the latest app.
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