Vance Ginn Economic Consulting
  • Home
  • About
  • Media
  • Blog
  • Presentations
  • RESEARCH
  • CV
  • Home
  • About
  • Media
  • Blog
  • Presentations
  • RESEARCH
  • CV

The FTC's Radical Case Against Amazon

10/4/2023

0 Comments

 
Picture
A recent survey found that 25 out of 100 Americans buy items on Amazon at least once per week. But the Biden administration’s Federal Trade Commission’s (FTC) decision to sue Amazon in federal court for supposedly violating antitrust law last week could change that for consumers.   

Specifically, the FTC claims that “Amazon’s ongoing pattern of illegal conduct blocks competition, allowing it to wield monopoly power to inflate prices, degrade quality, and stifle innovation for consumers and businesses.” 

This federal case will waste a lot of time and taxpayer money as 
it has no basis.  

In the Pelican Institute’s 
recent research, we highlighted the radicalism by those looking to make political points regarding antitrust enforcement instead of following the half-century, objective consumer welfare standard.  

As history has proven, empowering people in the marketplace rather than bureaucrats in government results in more efficient and effective outcomes and better supports liberty and prosperity.
 

The FTC’s Chair, 
Lina Khan, and Assistant Attorney General Jonathan Kanter of the Department of Justice’s antitrust division, have been doubling down on the administration’s aggressive approach to antitrust enforcement. This is the latest example, and they haven’t had a good track record. 

Antitrust laws were designed to protect consumers and promote fair competition but rarely achieve these goals. Inevitably, businesses become the antitrust enforcement targets, resulting in less economic growth, innovation, and job creation, leading to higher prices and hindered prosperity.
 

In short, consumers and employers are hurt by antitrust overreach, which will result from this sham case against Amazon by the FTC. And it will mean other companies must increase their legal team because they may be next. 
 

Protecting consumer welfare, which refers to the value consumers receive above the price they pay for goods and services, should be the driving force behind antitrust enforcement. This acknowledges that consumers have the sovereignty to make decisions supporting the competitive market process. 
 

If not, we will have much less consumer satisfaction, which would be unfortunate because of the administration’s radical approach in the Amazon case. Instead, common sense should lead the way so that Amazon can continue to provide the satisfaction demanded by consumers rather than be directed by government.
 ​

Originally posted at Pelican Institute. 
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Vance Ginn, Ph.D.
    ​@LetPeopleProsper

    Vance Ginn, Ph.D., works to let people prosper.

    Follow him on X: @vanceginn

    View my profile on LinkedIn

    Archives

    November 2023
    October 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    January 2015
    November 2013
    September 2013
    May 2013
    February 2013
    August 2012
    July 2012
    January 2012
    May 2011
    April 2011

    Categories

    All
    Antitrust
    Biden
    Book Reviews
    Budgets
    Capitalism
    Carbon Tax
    Commentary
    Congress
    COVID
    Debt
    Economic Freedom
    Economic Prosperity
    Economy
    Education
    Energy Markets
    Fed
    Freedom Conservatism
    Free Trade
    Ginn Economic Brief
    Healthcare
    Housing
    Immigration
    Inflation
    Interview
    Jobs Report
    Let People Prosper
    Licensing
    Louisiana
    Margin Tax
    Medicaid
    Minimum Wage
    News
    Occupational Licensing
    Opportunity Project
    Pensions
    Podcast
    Poverty
    Property Taxes
    RAB
    Regulation
    Research
    Rules
    School Choice
    Socialism
    Social Media
    Spending Limits
    Taxes
    Tax Foundation
    Technology
    Testimony
    Texas
    This Week's Economy
    Transparency
    Video
    White House

    RSS Feed

Proudly powered by Weebly