Siamak Etefagh

Antitrust law is being touted as an answer to our inflationary economy. Unfortunately, as Austrians have noted, antitrust law does nothing to bolster competition and actually makes the economy less competitive.

As Joseph Schumpeter noted, markets need “creative destruction” to survive and advance. However, Europe‘s Digital Market Act (DMA)—while written to ostensibly protect competition—gives the digital economy uncreative destruction.

Regulators with the European Union want people to believe that the “dead hand” of government regulation actually enhances competition. The only thing their actions enhance is more government power.