“The best antidote to the disruptive power of innovation is overregulation,” once wrote Tim Wu, now the White House’s adviser on competition policy. Paradoxically, a long-time “anti-monopoly evangelist” Tim Wu has recently admitted that “Europe has been interested in promoting competition within its own economy. We are thinking about the same thing ourselves.” This European inspiration for U.S. lawmakers and the Biden administration has a name: the Digital Markets Act (“DMA”). But as Aurelien Portuese writes for Competition Policy International, this European regulation is on a collision course with innovation, and looms in the hazards of overregulation.
