The Feds Are Redefining “Monopoly” at the Consumers Peril

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INTERVIEW ON THE PRICE OF BUSINESS SHOW, MEDIA PARTNER OF THIS SITE.

Recently Kevin Price, Host of the nationally syndicated Price of Business Show, interviewed Barbara Comstock.

Price and Comstock discuss the war on the standards for consumer protection that has stood the test of decades as they redefine “monopoly” without any historic or even logical basis.

Robert Bork believed in a strong focus on consumer welfare when it came to monopolies and antitrust law. Here’s a breakdown of his key views:

  • Consumer welfare as the primary goal: Bork argued that antitrust laws like the Sherman Antitrust Act were enacted to maximize consumer well-being, not necessarily protect small businesses themselves.
  • Competition, not competitors: According to Bork, antitrust intervention should target practices that directly harm consumers, like price fixing cartels. He saw protecting inefficient competitors from competition as hindering overall economic efficiency.
  • Focus on efficiency: Bork believed that monopolies could be beneficial if they led to lower costs and improved services for consumers. He argued against breaking up monopolies solely due to their size.
 
In the current cases, these criteria — the gold standard — are rarely, if ever considered.

According to a statement:

“Antitrust law protects American consumers from low-quality goods and services, but Google’s products are highly innovative and free for everyone. The Justice Department’s misguided lawsuit stretches antitrust law beyond its breaking point and risks breaking the very products that Americans love and use every day.”

Barbara represented Virginia’s Tenth Congressional District, was a senior appointee in the Justice Department, and worked as a Congressional aide. Her election marked her as the first woman elected to that seat. She was named as one of the “Top Ten Most Effective Lawmakers” in the 115th Congress by the Center for Effective Lawmaking, a joint effort of the University of Virginia and Vanderbilt University.

According to a statement from Ms. Comstock, “During her time in Congress, Barbara was a leader on technology and cybersecurity issues, chairing the Science, Space, and Technology Committee’s Research and Technology subcommittee, as well as serving on the Joint Economic Committee, the Transportation and Infrastructure Committee, and the House Administration Committee. Her legislative achievements include passing legislation to promote women and disadvantaged populations in STEM, as well as expanding research in the technology space. Barbara also was the leader on anti-sexual harassment legislation in Congress, and legislation to tackle the opioid crisis and gang crime. She partnered with Senator McCain to reauthorize multi-year firefighter grants to increase innovation and public safety. While in Congress, Barbara was the only woman in the Virginia congressional delegation and the only Virginia member to chair a subcommittee.”

 

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LISTEN TO THE INTERVIEW IN ITS ENTIRETY HERE:

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