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| Tim Phillips |
Americans for Prosperity believes that using antitrust law to punish successful competitors eliminates incentives for innovation. The government should not be able to pick winners and losers in the marketplace! Competition is the best check on the power of individual firms. Americans win when businesses compete for customers, and the more competition, the better.
Do you want to know 3 more reasons why this approach to antitrust law won't work? Allow me to explain further —
Breaking up tech companies won't stop political power from being "thrown around."
Antitrust laws, used in the way Sen. Warren and others suggest, do not stop political power from being "thrown around." Instead, they take regulatory power away from the proper enforcement agencies, such as the Federal Trade Commission, and give it to politicians — further politicizing the industry.
Competition benefits consumers.
Antitrust laws are meant to address instances of collusion, price-fixing and other anti-competitive behavior. They're not meant to stop the competitive process.
Competition is what gave us the technology we enjoy today, and it will give us the products we'll be enjoying in the future. When consumers get to control demand, the supply is higher quality at more affordable prices.
Punishing successful companies won't help "the next generation of great American tech companies."
Google, Facebook and other companies became successful through competition, by meeting market demands with quality products. Punishing them removes the incentive to keep innovating. It also removes incentives for "the next generation of tech companies" to grow their businesses and become successful.
When businesses are not encouraged to innovate and grow, consumers end up missing out while tech companies from other countries move ahead of the United States as global industry leaders.
The bottom line is that government should not be in the business of picking winners and losers in the tech industry — or any other industry.
In fact, I appeared on Fox Business yesterday to share why antitrust laws don't help American consumers. You can watch my appearance here.
America is home to some of the best and brightest minds. If left unburdened by heavy-handed government intrusion, the sky's the limit.
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Tim Phillips @TimPhillipsAFP is President of Americans for Prosperity.
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