Open Markets Applauds Senator Sanders’ “Bright Line” Standards Antitrust Plank
October 14, 2019
Today Presidential candidate Bernie Sanders released a plan to restructure American markets and corporations. “We strongly applaud these common-sense rules for ending dangerous concentrations of power in our economy,” said Barry Lynn, Executive Director of the Open Markets Institute. “Bernie Sanders has a simple rule. If a company is too big, it should be made smaller.”
In his plan, Senator Sanders said he would get rid of the consumer welfare standard, revamp the discredited Federal Trade Commission (FTC) by appointing vigorous enforcers, and impose ‘bright-line’ standards for mergers, setting simple market share thresholds. In April, the Open Markets Institute released its ‘bright-line standard’ plank for merger policy.
“These antitrust priorities would restore true market democracy in America,” said Lynn. “In addition, Sanders’ plan includes the critical anti-corruption measure of closing the revolving door that allows FTC commissioners to go to work for the corporations they regulate.”
Sandeep Vaheesan, Legal Director of the Open Markets Institute, added: “Senator Sanders also proposes to ban abusive contracts, such as mandatory arbitration and non-compete clauses, that prevent us from taking corporate wrongdoers to court and working where we want. Under his plan, corporations would not be able to strip us of our fundamental rights through the fine print.”
“In addition to making markets competitive and fair, Senator Sanders also aims to make corporations democratic. His plan would give workers an important voice in the decision-making of the firms that employ them and share in the profits that they help create.”
Sanders’ plan links to Open Markets’ Concentration Crisis report demonstrating concentration across the American economy. You can read the full report here.
Press Contact: Stella Roque at Open Markets Institute, [email protected]