Start with a simple fact: 17,000 jobs were lost when Spirit Airlines went under. Then, connect the dots: JetBlue offered to rescue Spirit, but former President Joe Biden’s Administration rejected the offer based on the belief that bigger companies are bad for workers and for consumers. Despite the evidence, much of Washington embraces this theory. And it’s wrong.
For years, government officials, academics, and journalists have repeated a simple story. Antitrust enforcement weakened beginning in the 1980s, mergers surged, industries consolidated, and competition declined. That story now underpins much of antitrust.
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