Freer Markets, A New Antitrust

We must change our posture from being adversarial to business through restrictive and protectionist regulation to light-handedly policing the marketplace to ensure that transactions are fair to all parties.

Pro-competitive policies at their core are non-partisan, and very American.

Competition in a freer market place simply means that more new businesses may enter the economy to compete on the price and quality of their product. More new business is one way to spur innovation. And more new businesses, particularly small business, means more new jobs in the local economy.

New market entry and basic trust that there is fairness in the market are two fundamental aspects of a healthy economy. Important at any time and critical in times of economic recovery or transition, local government’s approach to economic development is more than a matter of stimulus through funding. Stimulus by helping new entrepreneurs get off the ground is a matter of community-building, educational engagement, clear and administrable rules, and the promotion of trust in all market transactions through responsive enforcement of those rules.

A new antitrust’s mission would be to create clear rules for a fair and vibrant economy that serves the joint interests of the public, consumers, and the business community. This refactoring is the same mission that local regulators always had, protecting health, safety, the environment, and the welfare of our community. But in understanding today’s challenges, we must understand welfare to be multi-faceted. We must protect economic competition by creating a fair and open market for all.