Friday, July 23, 2021

Under Biden Free Enterprise Means Government Control

Richard M. Ebeling Richard M. Ebeling  – July 20, 2021

George Orwell famously coined the term “newspeak” in his 1949 anti-utopian futuristic novel, 1984, in which commonsense words were reversed in their meaning. Thus, “peace” meant “war,” and “love” meant “hate.” In our current world of political correctness, “equal rights” means “privilege,” and “freedom” means “oppression.” Now, with President Biden’s recent executive order on “active” enforcement of antitrust laws, “more market competition” really means “greater government regulation.”

On July 9, 2021, the White House released Joe Biden’s “Executive Order on Promoting Competition in the American Economy.” The Executive Order begins by hailing the value and benefits of competition, economic freedom and consumer choice, and then highlights what is said to be the dangers to these positive elements of American society:

“A fair, open, and competitive marketplace has long been a cornerstone of the American economy, while excessive market concentration threatens basic economic liberties, democratic accountability, and the welfare of workers, farmers, small businesses, startups, and consumers… Yet over the last several decades, as industries have consolidated, competition has weakened in too many markets, denying Americans the benefits of an open economy and widening racial, income, and wealth inequality… We must act now to reverse these dangerous trends, which constrain the growth and dynamism of our economy, impair the creation of high-quality jobs, and threaten America’s economic standing in the world.”

The White House “Fact Sheet” accompanying the Executive Order for the media emphasized that, “Today’s historic Executive Order established a whole-of-government effort to promote competition in the American economy. The Order includes 72 initiatives by more than a dozen federal agencies to promptly tackle some of the most pressing competition problems across our economy. Once implemented, these initiatives will result in concrete improvements to people’s lives.”.............

Biden’s Antitrust War on Business Bigness..............

Little Would Be Left Free of Government Control..........

Bureaucratic Interest in Finding What Justifies Regulation...............

Antitrust Regulation Meant to Punish Market Success..............

The Meaning of “Monopoly” in the Market..........

The Dynamic Workings of Free Market Competition..............

Market Competition Best Understood as a Process Through Time............

.Government Intervention as the Cause of Monopoly Problems...........

Government Regulation as the Serious Source of Concentrated Power....To Read More....

 

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