A Supermarket Merger Is Not A Threat To Humanity
Grocery store giants Kroger and Albertsons have announced a proposed merger, but it’s a business combination that will likely come under undue antitrust scrutiny. Before the federal government and its Federal Trade Commission and/or Department of Justice open their big mouths in opposition, we should get a few things straight about mergers and government intervention.
The glaring problem with big government intervention is hypocrisy. The federal government boasts of being the largest purchaser on Earth as well as the largest employer in the United States. Given its debt-fueled spending, massive contracting and procurement and hiring heft backed up by unprecedented new legislation aimed specifically at federal consolidation, the only monopoly and monosony power to worry about is that of the federal government itself, throwing its weight around on ridiculous white elephant projects like federally funded electric vehicle (EV) charging station networks, the C&O canals, and contaminated lead pipes.
To see the arrogance on display in defense of their interventions, look no further than a joint press conference between Joe Biden and Attorney General Merrick Garland on Jan. 3, 2022, throwing punches at industries across the economy in service of Biden’s “Competition Policy” executive order aimed at consolidating federal monopoly power. Remember also the appalling calls for anti-market collusion between business and government by Biden and Vice President Kamala Harris at the Summit of the Americas, as well as the threatening deliberations of the so-called White House Competition Council.
A supermarket merger is not a threat to humanity. Federal consolidations underway are the real risks to the American economy and competition, so much so that it is private ventures that should be shielded from government antitrust predators.
Read the full article on Issues & Insights.