President Biden has inaugurated a new era of American antitrust. His agenda reworks obsolete and discredited 20th-century economic theories to target 21st-century businesses (particularly in the tech sector). Led by his appointees, the Federal Trade Commission (FTC) and Department of Justice’s (DOJ) Antitrust Division have replaced traditional antitrust tests — which prioritize sound economics, competition, efficiency, and consumer welfare — with vague and subjectivepresumptions against big business and mergers per se. This misunderstanding of economics is already stifling an airline merger which could benefit consumers and enhance competition.
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