Dear WSJ: You Were Right About Antitrust
Editor, The Wall Street Journal
To the Editor:
Your case against the F.T.C.'s opposition to Whole Foods' merger with Wild Oats is 100 percent economically wholesome ("Whole Foods Fiasco," Dec. 31).
Before the antitrustinistas batter us further with their self-righteous restrictions, I challenge them to present a single compelling instance of an actual merger that resulted in consumer harm. Just one.
I've studied business and antitrust history for many years and can think of not one such case. Given the paucity (to put it mildly) of evidence that free-market mergers harm consumers, it's grotesque that bureaucrats who know only textbook models are statutorily armed to prevent private entrepreneurs from experimenting with different ways to enhance efficiencies.
Sincerely,
Donald J. Boudreaux
Don Boudreaux is the Chairman of the Department of Economics at George Mason University and a Business & Media Institute adviser.
