Well, My Textbooks Say
31 December 2008
Editor, The Wall Street Journal
200 Liberty Street
New York, NY 10281
To the Editor:
Your case against the F.T.C.'s opposition to Whole Foods' merger with Wild Oats is 100 percent economically wholesome ("Whole Foods Fiasco," December 31).
Before the antitrustinistas batter us further with their self-righteous restrictions, I challenge them to present a single compelling instance of an actual merger that resulted in consumer harm. Just one.
I've studied business and antitrust history for many years and can think of not one such case. Given the paucity (to put it mildly) of evidence that free-market mergers harm consumers, it's grotesque that bureaucrats who know only textbook models are statutorily armed to prevent private entrepreneurs from experimenting with different ways to enhance efficiencies and serve consumers better.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Editor, The Wall Street Journal
200 Liberty Street
New York, NY 10281
To the Editor:
Your case against the F.T.C.'s opposition to Whole Foods' merger with Wild Oats is 100 percent economically wholesome ("Whole Foods Fiasco," December 31).
Before the antitrustinistas batter us further with their self-righteous restrictions, I challenge them to present a single compelling instance of an actual merger that resulted in consumer harm. Just one.
I've studied business and antitrust history for many years and can think of not one such case. Given the paucity (to put it mildly) of evidence that free-market mergers harm consumers, it's grotesque that bureaucrats who know only textbook models are statutorily armed to prevent private entrepreneurs from experimenting with different ways to enhance efficiencies and serve consumers better.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Monday May 25, 2009 at 9:49am