American Consequences - August 2021


Last month, President Joe Biden issued an “Executive Order on Promoting Competition in the American Economy.”

Never mind that the executive order’s title itself is an implicit insult to the American spirit of stop-at-nothing rivalry. It’s as if Joe wandered into the locker room of a Texas high school football stadium on a Friday night and told the quarterback, “You should play hard.” Americans will compete at anything . Pickleball. I rest my case. Nonetheless, Joe is worried... about something... But what? That’s not exactly clear because the executive order is 16 pages of bureaucratic bumwad seemingly written by junior underlings up all night with too much coffee and too many Yale law degrees. One repeatedly raised concern is “market concentration.” The phrase is vague but seems to mean that you can take the idea that A Big Monopoly Is Bad and expand it to Just Big Is Also Bad and maybe even to Better Is Not So Good Either.

Perhaps the nefarious global ping-pong market concentration is threatening a pickleball buyout. Monopolies, semi- monopolies, and

companies that seem to dominate their business

The problem with what Joe puts his finger on is that it’s a government finger. And we all know which finger the government gives us... sector are (unless their dominance is enforced by government power) self-repairing free- market breakdowns, as Toyota taught GM. Biden is not deterred by economic theory, let alone economic fact. He says, “... excessive market concentration threatens basic


August 2021

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