In a true free market, businesses succeed or fail based on their ability to meet consumer’s needs and wants better than their competitors. Thus, businesses that remain successful will constantly try to find new ways to entice consumers away from their competitors. A rather obvious truth, however for almost 100 years, this basic truth escaped enforcers of America’s antitrust laws.
Instead of focusing on consumers, those charged with enforcing antitrust laws focused on how a business’ actions impacted “competition.” Meaning, regulators focused on how successful businesses affected other companies for a majority of the first century. This led them to adopt what could be called a” big is bad” approach to antitrust enforcement.
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