President Biden’s July 9 executive order ("E.O."), “Promoting Competition in the American Economy,” purports to promote competition. Let’s just say the order presumes a whole lot. Its false presumptions lead to policies that weaponize a blunt instrument: antitrust.
The White House claims that the E.O. addresses anticompetitive problems arising from consolidation in industrial sectors such as banking, hospitals, agriculture, technology and biopharmaceuticals. Unfortunately, the “trust busting” order is long on concentrating Big Government’s power and short on fostering competition.
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