“On Friday, President Biden signed a sweeping executive order intended to curb corporate dominance, enhance business competition and give consumers and workers more choices and power. The order features 72 initiatives ranging widely in subject matter — net neutrality and cheaper hearing aids, more scrutiny of Big Tech and a crackdown on the high fees charged by ocean shippers.
The president called his order a return to the “antitrust traditions” of the Roosevelt presidencies early in the last century. This may have surprised some listeners, since the order offers no immediate call for the breakup of Facebook or Amazon — none of the trustbusting that is antitrust’s signature idea.
But Mr. Biden’s executive order does something even more important than trustbusting. It returns the United States to the great antimonopoly tradition that has animated social and economic reform almost since the nation’s founding. This tradition worries less about technocratic questions such as whether concentrations of corporate power will lead to lower consumer prices and more about broader social and political concerns about the destructive effects that big business can have on our nation.”