The American Economic Liberties Project (AELP) is hosting its 2024 Anti-Monopoly Summit this week, with speakers from the Biden administration’s Federal Trade Commission (FTC) and the Department of Justice (DOJ) Antitrust Division in attendance. The summit will focus on Neo-Brandeisian interpretations of antitrust law, which are seen as detached from economic realities and consumer interests.
Antitrust laws play a crucial role in promoting competition in free and open markets, which is essential for a strong, diverse, and dynamic economy. However, the traditional consumer welfare standard of antitrust law is being challenged by the Biden administration’s FTC and DOJ Antitrust Division. In favor of a more interventionist approach, this shift grants government bureaucrats greater power to block mergers and acquisitions for politically motivated reasons.
The U.S. Chamber of Commerce supports healthy market competition because it benefits consumers by driving down prices, fostering higher quality products and services, providing more choices, increasing innovation, and contributing to the country’s global economic success. The AELP conference highlights the serious implications of the current antitrust landscape under Neo-Brandeisian interpretation.
It is concerning that the trajectory of the DOJ Antitrust Division and FTC under this view threatens to undermine U.S. economic vitality and competitiveness instead of supporting it. This shift has serious consequences for consumers and businesses alike, making it important to understand how antitrust laws are being interpreted today in order to make informed decisions about our economy’s future
