There's a Competition Crisis, Not An Affordability Crisis

While the public’s attention is fixed on an external energy shock they cannot control, they are overlooking a far more damaging, self-inflicted wound to their standard of living. The real threat to the American wallet is a domestic policy failure, but it’s not an affordability crisis. The reason is simple: if firms want to stay in business, they must have a sufficiently large pool of customers who can afford to purchase their products or services. If firms’ offerings were truly unaffordable, the market would cease to exist.