Those who demand a revival of antitrust regulation to “promote competition” may not realize that they’re inciting a revival of cronyism to suppress competition.
by Veronique de Rugy
Reason.com
Does anyone truly believe that our government—which consistently creates monopoly privileges for companies with its own cronyism—can be trusted to ensure that private markets remain competitive? Apparently so. Consider the resurgence of antitrust efforts against “Big Tech.” If history is our guide, going after disfavored companies will result in less competition, not more, along with fewer choices and higher prices for you and me.
Take the American Innovation and Choice Online Act recently approved by a Senate panel. This bill would block a handful of tech companies like Amazon and Apple from favoring their own products and services over those of competitors who also use these platforms. For instance, independent merchants who sell on Amazon claim to be punished if they sell their products for less on their own websites or on other sites like Walmart’s or Target’s.