“Not much in social science makes sense except in light of power struggle … Brandeis was very much about this, but the consumer welfare standard ignored it.”

In conversation with @linakhanFTC, @DAcemogluMIT says you can't understand the economy without accounting for power.👇🧵 2/ Acemoglu was endorsing @FTC's “fidelity to the realities of how markets function," in Chair Khan's words.

It's an approach guided by a more diverse set of economic perspectives—and by Americans’ actual experience of markets—rather than solely by assumption-laden theories.

In its latest suit against Apple, @JusticeATR reveals a LOT of new info on how the company wields power against consumers and smaller companies.

Skeptical? Here’s a 🧵 that busts some Apple myths.

Spoiler alert: it's more than just green bubbles.👇 “But Apple is innovative!”

Apple’s greatest innovations were the result of dynamic & competitive markets. Today, its own executives admit that its monopoly power allows the company to ship products that are simply “good enough.”

Competition, not complacency, drives innovation.

Amid reports @FTC will sue to block the Kroger-Albertsons mega-merger, you might have noticed a PR push claiming the deal will somehow lower food prices for shoppers.

That’s bogus. Economic research and the companies’ own internal documents say otherwise.👇🧵 2/ In a recent press release, Kroger claims (without evidence) that investments in chains it previously acquired resulted in savings for shoppers—saying the same will happen with Albertsons.

But economic studies overwhelmingly find that supermarket mergers INCREASE prices.📈

ICYMI: Yesterday, @FTC released an updated Amazon complaint containing substantial previously-redacted information. It’s now clear that Amazon is knowingly and intentionally harming consumers & sellers.

Here are some highlights.👇🧵 2/ Many of the new revelations provided specifics on how, contrary to what people often think of the company, Amazon has often raised prices for consumers.

A whole unredacted CHAPTER on pricing algorithm “Project Nessie” was one striking example.

https://x.com/econliberties/status/1720107287237272043?s=20

🚨HUGE: The @FTC and @JusticeATR released their highly-anticipated, updated merger guidelines earlier this morning.

That may sound wonky, but trust us, this is a BIG deal. Here’s why.🧵👇

ftc.gov/news-events/ne… 2/ Since the 1980s, merger policy has been a disaster.

Ticketmaster-Live Nation. Google-DoubleClick. Northrop-ATK. Facebook-Instagram. CVS-Caremark-Aetna. Hertz-Dollar. American-U.S. Airways. Disney-Fox.

We’ve got a crazy story to tell you about “ethics” in government and how it impairs our ability rein in corporate monopoly power.

Follow along, and make sure to let us know what you think. 👇🧵 2/An ethics officer has advised @linakhanFTC to recuse herself from a case involving Meta. Why?

Not bc she is financially benefiting from the company (ethics rules prevent Chair Khan from holding stock).

It’s because she has criticized the business practices of the company.🤔

🚨BREAKING: Live Nation-Ticketmaster reports total 2022 income of $732 MILLION, which is 125% higher than 2019, their pre-pandemic year and most-profitable on record.
livenationentertainment.com/2023/02/live-n… This is just another proof point that Live Nation-Ticketmaster is raking in cash at the expense of fans, artists, and everyone who ACTUALLY makes live events special.

Wonder why that hasn't made it into the report.

🚨NEW: As state legislatures kick off, @Pat_Garofalo and @LeeHepner detail how state lawmakers can rein in monopoly power by tackling big corporations’ unfair tactics — and which states are already doing so.

Read the full oped in @Governing.⬇️🧵
governing.com/now/a-new-oppo… The piece explains how states can use an “abuse of dominance” standard to ensure big corporations can’t exploit their size to gain an unfair advantage, box out would-be competitors, stifle innovation, or harm workers.

Minnesota, New York, and Pennsylvania are already doing so.

🚨NEWS: Antimonopoly champion @RepCicilline just announced he’ll be resigning later this year.

Throughout his tenure, he’s been a focused leader in the fight to rid American society from monopoly power’s corrupting influence. Here’s some clips that show that leadership.👇 📺 2/ Here’s @RepCiclline calling out how concentrated corporate power corrupts our democracy and harms our society.👇

WOW: @SecVilsack told Congress that since the meat market is so consolidated, the government would HAVE to keep buying food from @JBSFoodsUSA — even though it's tied to bribery scandals. [h/t @marcia_brown9]

Here’s some facts on JBS’ power over food.👇🧵
politico.com/news/2023/01/1… 2/ JBS is the world’s largest meat processing company and one of the world’s worst corporate actors.

It’s the poster child for evils wrought from corporate consolidation. It also gets 100s of millions in government contracts and bailouts, washingtonpost.com/politics/this-…

Think you’re already paying too much for your groceries?

Unfortunately, prices will only continue to rise with consolidation in the supermarket industry -- like the Kroger-Albertsons merger. Here’s why enforcers should block it.👇🧵 As with most cases of consolidation in retail, this is a bad deal for consumers, workers, and communities. Here’s @sarahmillerdc in @nytimes:

BREAKING: The @FTC just proposed a rule outlawing non-compete agreements under the antitrust laws.

Corporations use non-competes to block nearly 1 in 5 workers — or 30 million people — from freely changing jobs, negotiating for better pay, or starting businesses of their own.

https://twitter.com/noamscheiber/status/1611014858387951617

2/ By voting in support of today’s rule, Chair @linakhanFTC, @RKSlaughterFTC, and @BedoyaFTC took a historic stand for economic liberty, business dynamism, and fair competition.

Millions of people — and the U.S. economy overall — will be better off because of it.

With @chopracfpb testifying in Congress today, here’s all you need to know about his work at the @CFPB — in the form of headlines.

TLDR: He’s unafraid to take on Big Banks and Big Tech when they cheat consumers and thwart fair competition. latimes.com/business/story…

🚨 NEWS: Kroger just reported a *MASSIVE* $3.7 billion in operating profits this year.

That's a 37% increase over 2021!
ir.kroger.com/CorporateProfi… twitter.com/i/web/status/1… While Kroger is jacking up prices, they're also trying to merge with one of their biggest rivals. Albertsons.

As with most cases of consolidation in retail, this is a bad deal for consumers, workers, and communities. @sarahmillerdc put it well in @nytimes:

So excited to show off our #SpotifyWrapped for 2022!

We've had @linakhanFTC, @JusticeATR AAG Kanter, and @chopracfpb on repeat all year long.👏

Here's some of their greatest hits.🧵👇

https://twitter.com/econliberties/status/1537170344456474627

NEW: Live Nation-Ticketmaster reports record-breaking earnings this quarter.

They're raking in cash at the expense of fans, artists, and everyone who ACTUALLY makes live events special.

Wonder why that hasn't made it into the report.
actionnetwork.org/letters/tell-t… After a summer of price gouging fans, Live Nation-Ticketmaster is on track to have its most profitable year ever.

Total revenue for 2022 is $12.3B so far, which is 43% higher than what it was at this time in 2019, their pre-pandemic year and most-profitable on record.

NEW: As of today, over 10,500 people from across the country have sent letters to @JusticeATR urging them to #BreakUpTicketmaster.🔨🎟️

As we hit this exciting milestone, here’s a recap on why we launched this campaign, and what we hope it will achieve.
msn.com/en-us/music/ne… Some background: Thanks to a merger with Live Nation in 2010, Ticketmaster has almost total control over live music & sporting events.

With that power, they rip off fans, short change artists, & strong-arm venues.

@KristaKBrown & @FreedZach have more.👇
economicliberties.us/our-work/how-a…

BIG: We’re launching a campaign to #BreakUpTicketmaster w/ @fightmonopolies, @MorePerfectUS, @sportsfanorg, @FanFreedom, @ConsumerFed, @artistrightsnow, & @ncl_tweets.

Has your ticket buying experience been hell lately? Our campaign lays out why — and how you can take action.🧵 2/ The campaign features a new Quick Take from @KristaKBrown and @FreedZach that provides the nitty gritty on the @Ticketmaster-@LiveNation merger. 📃

ICYMI, last Friday was @FTC Commissioner Noah Phillips’ last day at the agency.

But on Monday, law firm @Cravath — which has represented Amazon, Facebook & more — announced he’s joining the firm as antitrust practice Co-Chair.

This won't surprise anyone paying attention.

https://twitter.com/Cravath/status/1581981047981428736

2/ During his tenure, Phillips almost always sided with Big Tech companies and corporations — even against bipartisan consensus.

Here’s some of those votes — and what R’s should know before nominating someone else. (h/t @RevolvingDoor) 🧵👇
therevolvingdoorproject.org/foia-request-i…

1/ We often hear how government and politics are dysfunctional, rife with lobbyist control. But in one area - competition policy to deal with corporate power - things are quietly going…well. Follow along as we try to convince you. 🧵 economicliberties.us/press-release/… 2/ One year ago, @POTUS rightly acknowledged that the past 40 years of encouraging monopoly power has been a terrible error.

Emphasizing small business, workers, and consumers, he gave the most significant speech on monopolies by a US President since FDR.

There is a serious problem with foreign propaganda in the United States. However, we are concerned about reports that the Department of Homeland Security has put together a ‘Disinformation Governance Board.’

Our statement and 🧵⬇️
economicliberties.us/press-release/… 2/DHS has been at the center of some of nation's most heated debates, including questions on immigration and unwarranted surveillance.

Conservatives worry President Biden will use this board to deter speech of which he does not approve. But this concern should go both ways.