What the new Draft Merger Guidelines could mean for the economy (with Maggie Goodlander)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 19 September 2023

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Earlier this summer, the Justice Department and Federal Trade Commission (FTC) released a draft update of their Merger Guidelines, “which describe and guide the agencies’ review of mergers and acquisitions to determine compliance with federal antitrust laws.” Maggie Goodlander from the Justice Department joins the podcast to discuss why mergers can weaken competition and harm consumers and workers, and how these proposed guidelines can help bring competition back by making it harder for big corporations to swallow each other up. Maggie Goodlander is the Deputy Assistant Attorney General at the U.S. Department of Justice where she oversees the international, appellate, and policy work of the Antitrust Division. Twitter: @TheJusticeDept Justice Department And FTC Seek Comment on Draft Merger Guidelines https://www.justice.gov/opa/pr/justice-department-and-ftc-seek-comment-draft-merger-guidelines Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

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0:00.0	Our impetus for revisiting the guidelines this time around was, in part, the president's
0:08.7	executive order on competition.
0:11.3	Maggie, I mean, one of the reasons your job is so consequential today is that the country
0:16.6	sort of forgot about antitrust for a very long time, didn't we?
0:20.8	You used the term forgotten.
0:22.0	It wasn't forgotten these past 40 years.
0:24.9	It's been ignored.
0:25.9	Yeah.
0:26.9	We'll fully ignore it.
0:27.9	That's right.
0:28.9	From the home offices of civic ventures in downtown Seattle, this is pitchfork economics,
0:38.3	with Nick Hanauer, the best place to get the truth about who gets what and why.
0:49.2	I'm Nick Hanauer, founder of Civic Ventures.
0:52.3	I'm David Goldstein, senior fellow at Civic Ventures.
1:00.1	Twice a month, Nick, you deposit some of your dirty Amazon money into my bank account.
1:06.0	And so in a way, both of us, you and I, you will lot more than me, but both of us have
1:11.7	benefited from this grotesque monopoly that Jeff Bezos has built.
1:18.2	So this episode, we're doing a little penance.
1:20.7	Yeah.
1:21.7	A little bit.
1:22.7	No, today.
1:23.7	Well, A, I sold my Amazon stock sadly, sadly, before it became the grotesque monopoly that
	...

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