Antitrust enforcers released a draft update outlining new rules today that officials say will make it easier to crack down on mergers and acquisitions that could substantially lessen competition in the US.
Now the public has 60 days to review the draft guidelines and submit comments to the Federal Trade Commission (FTC) and the Department of Justice (DOJ) before the agencies’ September 18 deadline. A fierce debate has already started between those in support and those who oppose the draft guidelines.
Any corporation should be serving the democratically elected government of a country – not the other way around. If a merger or acquisition is deemed harmful to the competitive landscape, and thus to consumers, a government should be able to just stop it. The same applies to corporations who grow too large, too rich, too powerful – if a company’s actions start to dictate significant parts of the market or even economy, they are a threat to the stability and functioning of the society it’s claiming to be a part of, and as such, they should be able to be split up or their actions otherwise remedied to protect society.
In other words, any steps the Us FTC and DOJ take to take control over runaway corporations are positive.