History Will Be Kind To Neither Lina Khan Nor Joe Biden
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Amid the doom and gloom of President Joe Biden’s bitter farewell address was a dire warning about “an oligarchy taking shape in America.” Yet days earlier, Lina Khan, who upon taking over the Federal Trade Commission (FTC) in 2021 vowed “to protect the public from corporate abuse,”couldn’t name one thing she would have done differently when pressed three times by CNBC’s Andrew Ross Sorkin.

Both can’t be correct. Either Khan achieved her stated goal, or Biden was sounding the alarm on a clear and present danger. With legacy on both their minds, let’s take a look back at the real record on competition under Biden-Khan. Here are three of the lowlights.

First, Khan’s Federal Trade Commission (FTC), along with former Assistant Attorney General for the Antitrust Division Jonathan Kanter, used their public offices to launch wars on American innovators. From Meta to Amazon to even grocery stores like Kroger and Albertsons, size and success were viewed as inherent negatives and in need of immediate attention from regulators.

Their zealous overreach occurred when China was nipping at the heels of American innovation, and even surpassing it in certain areas. As AI-related national security threats grew, Khan and her commission turned their ire not toward foreign adversaries, but toward homegrown success stories, pursuing an investigation that involved ‘compulsory orders’ to five U.S. tech companies regarding their investments in AI.

In his farewell address, President Biden urged that “the Land of Liberty, America - not China - must lead the world in the development of AI.” If this is the case, then why did he empower unelected officials to throw roadblocks at the very tech firms on the front lines of harnessing these new technologies?

Second, the Biden-Khan antitrust agenda failed to reduce inflation or grow the economy, contributing to voters’ pessimism and a sweeping Trump victory. Along with now former Senator Bob Casey, Khan peddled the ridiculous and false narrative that private sector companies were to blame for inflation when it was the Biden Administration’s surge in spending. And consider the FTC’s role in the collapse of the proposed merger between Amazon and iRobot that led to 350 American jobs needlessly lost. Press reports indicated the FTC was poised to reject the iRobot-Amazon deal before the companies scrapped the merger.

Meanwhile, European Commission regulators acknowledged that they were “in close contact” with the FTC throughout their investigation into the acquisition. Khan’s coziness with European regulators became an unfortunate pattern throughout her tenure. She was more interested in colluding with foreign bureaucrats than advancing the interests of American businesses.

Finally, while not generating the fanfare of the Department of Justice (DOJ) or Federal Bureau of Investigation (FBI), the Biden-Khan FTC morphed into a nakedly political entity. This once independent agency, who for its century-long existence operated behind the scenes protecting the American consumer and promoting competition, became a vehicle for progressives to rewrite the fundamental rules of the economy.

Khan even hit the campaign trail in the lead-up to the election, appearing with firebrand progressives like U.S. Senator Bernie Sanders and U.S. Representative Alexandria Ocasio-Cortez.

Unlike the 82-year old Biden, America hasn’t heard the final word from Khan, more than five decades the president’s junior. She gives voice to the wild-eyed ideas of the progressive left and speaks to their dreams of a European-style socialist welfare state where success is something to demonize rather than celebrate.

Biden and Khan may care about their legacy, but the die was cast long ago on both. The history books won’t be kind to either.

A former United States Senator and Ambassador, Scott Brown is the chairman of the Competitiveness Coalition. 


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