It is one thing for government to regulate business. But it is the height of chutzpah for career politicians and bureaucrats to lecture America’s dynamic, innovative, risk-taking private sector on what business competition is, as the Biden Administration’s Competition Council is doing.
The Council was launched on July 9, 2021 by an Executive Order to “establish a whole-of-government effort to promote competition in the American economy.” It touts an array of mandates and proposals for numerous industries: transportation, agriculture, banking, technology and more.
In reality, the U.S. economy is more competitive than ever, especially for companies in the high-tech sector like Amazon, Meta, and Alphabet. The Council’s mission is business bashing, pure and simple.
Lexington Institute’s Paul Steidler discusses this in an Op-Ed in RealClearMarkets here.
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