Hearing #1 On Competition and Consumer Protection in the 21st Century - Sept. 13-14 at Georgetown University Law Center
Freedom to prosper is at the core of the American Dream, so when regulating business there must be an effort made to support the growth and progress of small businesses. Too many regulations can have the effect of stifling smaller and newer businesses that are more sensitive to financial and other constraints, making it unduly difficult to operate and grow. Care must be taken to ensure that the regulatory environment is conducive, and not obstructive, to small business. Care must be taken to ensure that large companies are not allowed to rig the market to their favor and to the disfavor of small business by controlling the type of legislation that gets enacted, and the types of rules that get promulgated. Care must be taken to ensure that the novel technologies, new business models, new ideas conceived by small business are supported and allowed to thrive. This calls for a balance of power between small and large businesses so that the latter may not have undue influence over the progress of the former. Any regulations around competition and consumer protection must honor these principles in order for Americans to prosper. Another ongoing and unresolved problem in the US today is that we continue to have a business landscape where the majority of companies, large and small, are owned by a few mogul-type companies at the very top. The US marketplace is like a monopoly where massive corporations own many many companies beneath them. The owners of these monopolizing corporations ( like Monsanto) wield great power over the national economy, and great influence over all things economy-related. Hence, their power extends to controlling the direction of our national political discourse, to the enactment of key legislation, and to the design of our foreign affairs policies. This cannot be to our nations benefit to allow a group of mysterious tycoons to essentially rule our country from behind the scenes. We must take our power back so that we call the shots, we direct the political discourse, we determine what are the pressing issues, we make the policy decisions, we chart out our future, and we rule over ourselves. To this end, regulations ought to be made to protect our leaders in the economic and political spheres from the predatory, intimidating, and blackmailing tactics of these uber rich merchant banker monopolists. Regulations ought to be designed to cut the spread and extent of their power over our nation. Regulations ought to be made to keep them from destroying our businesses, our livelihoods, and our prosperity at their slightest whim.