Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Investing

What Does a Pro-Competition Policy for an Innovation and Expression Agenda Look Like?

by December 17, 2024
December 17, 2024
What Does a Pro-Competition Policy for an Innovation and Expression Agenda Look Like?

Jennifer Huddleston

This blog is part of a series on technology innovation and free expression. 

Over the last several years, members of Congress on both the left and the right have introduced legislation to “rein in big tech.” However, these approaches aimed at America’s leading tech companies often represent a significant shift in competition policy, which would impact not only the leading players in the tech industry but also small companies, consumers, and a range of other industries. If policymakers want to ensure that the American consumer benefits from free-market competition in the tech sector — as well as more generally —what should they consider doing on a policy front?

I suggest that the 119th Congress, the new FTC and antitrust division of the Department of Justice, and the new presidential administration consider three elements.

First, Congress should consider codifying an objective law and economics approach to competition policy as illustrated by the consumer welfare standard. Currently, this approach exists merely in common law precedent. While in many cases a common law approach is more adaptive and preferable to statutory law, given the rise of radical theories that seek to use antitrust enforcement to achieve other policy goals, there is a risk that the objective standard could be taken away by a single decision. 

This would set up a cascade of economic and legal consequences. Codifying the sound economics behind the consumer welfare standard would lessen the likelihood that enforcers of either political persuasion could use antitrust law beyond its intended purpose and would ensure consumers benefit from the competition that occurs in a free market.

Second, policymakers should oppose attacks on successful American businesses from afar. This includes recognizing and condemning the type of actions seen from Europe and beyond that attempt to create a protectionist policy for their inferior local competitors and penalize these companies for their success. Unfortunately, in some cases, American policymakers like FTC Chair Lina Khan appear to be collaborating on such attacks on America’s most innovative companies.

Finally, innovation is often our best competition policy. Policymakers should pursue a broader pro-innovation policy that keeps barriers to entry low and thus encourages competition. This includes laws like Section 230 that make it possible for new platforms to carry user-generated content without fear of extortionate liability, as well as careful consideration of whether the compliance and regulatory burdens in policies around issues like data privacy or artificial intelligence could make it more difficult for smaller players to enter the market. 

When considering these issues, it is important to remember that while the underlying policy can impact the way competition plays out in the tech market, antitrust law is ill-equipped to resolve concerns beyond competition policy. 

0
FacebookTwitterGoogle +Pinterest
previous post
How to choose the best proxy provider in 2024?
next post
Liberal Supreme Court justice makes ‘cringe’ cameo performance on Broadway

You may also like

The Center for Immigration Studies Is Still Wrong...

March 6, 2024

Don’t Let Electricity Become the New Front in the...

April 5, 2024

Fiscal Accountability and Enhancing the CBO’s Role in...

September 11, 2024

I Shot the Tariff (But I Swear It...

June 6, 2025

Hawley Wants to Restrict Funding of Political Speech

November 3, 2023

Will the Precautionary FDA Slow‐​Walk Approval of a Promising...

May 31, 2023

Demystifying AI Experimentation and the Startup Ecosystem

May 1, 2024

New Arizona Data Shows School Choice Is Saving...

August 28, 2024

Emergency Aid or Budget Trick? Assessing Biden’s $100...

October 20, 2023

Medicaid and Emergency Room Use

July 11, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Trump warns of ‘serious consequences’ if Elon Musk funds Democrats

      June 7, 2025
    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,568)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved