In the intricate realm where law meets economics, the Department of Justice’s (DOJ) and Federal Trade Commission’s (FTC) proposed revisions to their merger guidelines serve as a stark reminder of the perils that accompany regulatory misdirection. Announced in July 2023, the draft guidelines swiftly garnered criticism from all corners of the political spectrum, with legal scholars puzzled by case-law citation errors and economists dismayed at what they perceived as a significant regression in analysis.

The draft guidelines seem to echo philosophies circulating through law schools, suggesting that law is merely a power play and economic argument is a tool for serving the powerful. If the DOJ and FTC succeed in imprinting antitrust with such beliefs, the ramifications could destabilize the very foundations of world-class American businesses — and the livelihoods of American workers.

Read Dr. Jamison’s complete Op-Ed at National Review.