Thread by @econliberties

Today, Economic Liberties is proud to release “The Courage to Learn."

It's a deeply researched case for abandoning the consumer welfare approach & a comprehensive, new antitrust and competition policy agenda for Congress & the Biden administration.
economicliberties.us/our-work/coura…

2/ As @sarahmillerdc explains, “The Courage to Learn tells a previously untold but crucial story about how America’s economy works and why it’s not working well for so many of us.”

3/ “The Courage to Learn” examines the real-world implications of the widespread adoption of the “consumer welfare standard,” which encourages consolidation under the banner of efficiency.

Spoiler alert: it hasn’t been good.

4/ It takes a close look at the Obama admin, showing how consumer welfare adherents subverted President Obama’s public pledges to structure markets to be fairer and more stable — something President Obama has himself acknowledged.
nymag.com/intelligencer/…

5/ And it explains how specific competition policy choices allowed monopolies to hijack our economy, resulting in everything from layoffs at @WaltDisneyCo and local newspapers to increased prices for farmers and hospital patients.

*BUT* it also includes a path forward.

6/ There is now a growing constellation of efforts at the local, state, and federal level to address monopoly power, and President-elect Biden has an opportunity to lead the way.

Part III of “The Courage to Learn” offers a blueprint.

7/ As early as Day One of his administration, President-elect Biden can protect workers, small biz, communities & our democracy from corporate concentration.

Antitrust laws are some of the more powerful economic tools available to do so.

8/8 From enforcing fair competition goals at the @FTC & @TheJusticeDept to strengthening antitrust enforcement and appointing committed staff, Biden can begin reversing corporate concentration immediately. 👏

We hope he will.