WASHINGTON—Following the confirmation of President Biden’s nominee to the Federal Trade Commission, Lina Khan, the Information Technology and Innovation Foundation (ITIF), the leading think tank for science and technology policy, released the following statement from ITIF's director of antitrust and innovation policy, Aurelien Portuese:
Lina Khan’s confirmation as FTC commissioner is the result of growing bipartisan support for a populist approach to antitrust.
As antitrust populism is inevitably going to become the governmental policy stance on antitrust, American consumers and innovation may soon be collateral damage. Consumers may no longer be able to benefit from large companies' economies of scale. Innovation may slow down as less efficient and less innovative companies will be able to seek legal protection against aggressive, yet beneficial competition.
In a time of increased global competition, antitrust populism will cause lasting self-inflicted damage that benefits foreign, less meritorious rivals.