Antitrust Litigation Isn't Enough. Biden Needs to Go Further

Think of them as prohibitions on unfair business practices comparable to speed limits for drivers.At a time when Congress seems unlikely to pass a new antitrust law, the Biden administration can still act without legislation, using the expansive power of the FTC. Through the appointment of committed antimonopolists to the FTC, the Biden administration could enact rules for corporate consolidation that prohibit mergers based on specific market share and concentrations thresholds. By reinstituting such market share and concentration tests, a merger like the one between Sysco and US Foods would probably not have been contemplated in the boardroom, let alone proposed.In addition to merger rules, the FTC should outlaw unfair methods of competition in which a firm uses its market dominance or financial firepower to muscle out rivals. A new FTC should ban these pricing practices by corporations with a market share above a specified threshold.The Biden administration has the authority to enact rules of fair competition that check corporate power over society.