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Competition is the core tenant that makes capitalism beneficial to broader society. Consolidation over the past few decades has limited the capacity for firms
by adam_arthur 2y ago
Competition is the core tenant that makes capitalism beneficial to broader society.
Consolidation over the past few decades has limited the capacity for firms to compete in many sectors.
So I appreciate the sentiment of what the FTC is trying to do, but they really come across as amateurs bringing far too many lawsuits and often with weak legal reasoning/argumentation.
In many of the cases they've brought there exists alternative, yet stronger arguments that could have been made.
I'd support congress legislating towards more competition (e.g. forcing open standards for things like APIs/chat clients/smart watches etc), or a more active FTC.
But the current approach is far too disorganized and weak.
- johnnyanmac 2y agoI mean, I'm not a lawyer so I won't really judge what's a good or bad argument. My impression is that forcing open standards is a much harder argument than an antitrust one. Open standards can come at a later step. And if you haven't kept up this year, Chevron being overturned is showing that the SCOTUS is more than happy to reduce FTC interference.
- adam_arthur 2y ago(Compelled) Open standards isn't an argument, it's an act of congress. Unfortunately Congress is largely old and non-technical so the problems present aren't very well recognized or understood. History will look at walled gardens as bad for competition and thus broader society.