Tag: antitrust law and enforcement abandons consumer welfare standard

Quote of the Day: Antitrust Enforcement, and the Purpose of Economics

 

This quote comes from an op-ed in the Wall Street Journal, Monday, April 4, by Phil Gramm and Christine Wilson titled “The New Progressives Fight Against Consumer Welfare.”  They are describing the new anti-trust regime in the “Biden” Administration, now led by Lina Khan at the Federal Trade Commission; Tim Wu, a special assistant to the White House National Economic Council; and Rohit Chopra at the Consumer Financial Protection Bureau.

They note that in the past, anti-trust law and enforcement were “anchored in consumer welfare”.  Here are a few pithy quotes from the article.