The FTC would do well to remember that being big does not preclude a company from being outflanked by new competitors
Todd G. Buchholz, a former White House director of economic policy under president George H.W. Bush and managing director of the Tiger hedge fund, is the recipient of the Harvard Department of Economics’ Allyn Young Teaching Prize.
Under the Biden administration, the FTC has discarded decades of antitrust law and instead cooked up a stew of simmering grievances against successful companies, including luxury handbag makers. But this aggressive approach will likely achieve little beyond stifling innovation and exalting mercurial bureaucrats.
Each of these fast-growing upstarts drove prices lower. But the FTC no longer seems concerned with consumer bargains. Instead, it focuses on soft – and more inscrutable – variables such as fairness and worker welfare. Moreover, Ms. Khan’s team has dragged numerous companies to court to prevent sensible mergers based on unsound legal theories. Thankfully, in most cases, judges have recognized the FTC’s overreach. In 2022, the FTC unsuccessfully tried toMeta from acquiring a fitness company called Within Unlimited, accusing Meta of attempting to “buy its way to the top.”
Ftc Amazon Company Luxury Article Director Meta Capri U.S. Supreme Court Justice Lina Khan Louis Brandeis
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