Home
/
RELIGION & LIBERTY ONLINE
/
Government regulation of the market is more to be feared than Amazon or Google
Government regulation of the market is more to be feared than Amazon or Google
Jan 8, 2026 6:23 AM

A new bipartisan bill in the Senate aims to rein in supposedly monopolistic and unfair business practices. But it will only petition in the long run and hurt the very consumers it’s intended to help.

Read More…

The popular view of the recent NBA Finals is that the Boston Celtics and Golden State peted for the title of best team. The nation’s best basketball players traded points, victories, and fouls on the way to the Warriors pulling off the final victory.

The truth is more cynical: The NBA has unethically created a vertically integrated league that puts everything from popcorn and chairs to players and stadiums under the control of a single entity. This has prevented any petition to the NBA for a half-century and has resulted in players and owners making billions of dollars off consumers.

Of course, consumers could buy elsewhere—other sports or nonsport activities, high school or college games, or pickup basketball. That’s what I believe as a free-market economist and former college basketball player.

But a bipartisan group of U.S. senators disagree. Ranging from conservative populist Josh Hawley to liberal DemocratAmy Klobuchar, they don’t think consumers are smart enough to make their own choices. And so they’ve introduced theAmerican Innovation and Choice Online Act, which is intended to panies’ ability to create efficiencies through bringing disparate parts of their supply chain under pany umbrella—known in corporate circles as “vertical integration.”

Ironically, Klobuchar and Hawley are pretending to bravely stand up for consumers who buy panies like Amazon, one of the world’s most panies. But if that was their real goal, they’d target the NBA and other panies that have just as much control over their supply chain … but don’t draw as much controversy among the political class.

As Senator Rand Paul (R-KY) noted earlier this month, this misguided bill will actually petition. Hundreds of millions of consumers prefer Amazon and Google over petitors because they’re better at offering the same or improved services. And while I share Paul’s distaste for panies’ one-sided political biases and censorship, I fear the empowering of the government’s biases and censorship even more. In fact, The Hill reported on June 15 that liberal senators have pressured Klobuchar into saying she’s open to the bill allowing censorship of conservative speech online.

Over and over, government regulations have been found to decrease, not petition. A 2015 Harvard study found that “an plex and uncoordinated regulatory system has created an uneven regulatory playing field” that played a key role in shrinking the role munity banks and increased the power of big banks.

As Washington Examiner columnist and American Enterprise Institute senior fellow Tim Carney said in an email, heavier regulations benefit established market players. “The big guys can afford the added overhead, hire the best lobbyists, and hire the regulators to be their lawyers,” wrote Carney. “Big government is a home game for Big Banks. Dodd-Frank crimped the Big Banks’ style a bit, but more importantly, it served to widen the moat between the Big Banks and their petitors. In that regard, it harmed consumers petitors to the benefit of the giants.”

Likewise, minimum wage laws give retail powerhouses like Walmart more market control, not less, because their petitors can’t keep up with rising costs. And it was the taxi industry that benefited for decades from regulations that Uber has fought to circumvent.

Unfortunately, evidence and rationality don’t seem to have much sway in Washington, D.C.’s view petition and consumer choice. Baron Public Affairsreportsthat antitrust momentum is with the left—members of Congress, top government officials, and others are most influenced by liberal academics and intellectuals whose point of view is that government should be more active in “protecting” consumers from making free economic choices.

All of which brings us back to the NBA. I’m a short guy whose basketball skills peaked as a guard at a small Catholic college. I never made it to the pros because the NBA has made it impossible for people like me pete against taller, more skilled players who were trained in top college programs. That may actually be the NBA’s biggest advantage over petition—a taxpayer-funded feeder network called the U.S. college system.

And therein lies the Klobuchar-Hawley solution: Politicians should prevent top college prospects from merging their talent with the NBA, which only increases the league’s market dominance.

Isn’t that absurd? Of course, it is. I can spend my whole plaining and stomping my feet, ranting on Twitter about NBA fans making free choices to spend billions on the league and asking politicians to interfere.

Or I can be rational and recognize that basketball fans receive more value by watching higher-skilled players.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
The Prospects of More QE for Economic Stimulus: A Lesson from History
In today’s Wall Street Journal, Jon Hilsenrath and Kristina Peterson report, “The Federal Reserve is heading toward launching a new round of stimulus to buck up the weak economy, but stopped short of doing so right away.” The predicted means of stimulating the economy is another round of the unconventional policy of quantitative easing (QE), i.e. when a central bank purchases financial assets from the private sector with newly created money in effort to spark economic growth. Thus, the quantity...
Movie Review: ‘Safety Not Guaranteed’
From the producers of Little Miss es this charming mix edy, suspense, drama, and—possibly—science fiction. Safety Not Guaranteed is the story of melancholy Darius (Aubrey Plaza), an intern at a Seattle magazine, who goes on assignment with reporter Jeff (Jake M. Johnson) and fellow intern Arnau (Karan Soni) to investigate the author of a peculiar classified ad that reads: *WANTED* Someone to go back in time with me. This is not a joke. You’ll get paid after we get back....
QE: Haven’t We Learned So Much Since 1609?
In response to my post last Thursday on the Fed’s signaling the possibility of more quantitative easing (QE), mentator using the pseudonym “Milton Friedman” wrote, have you checked inflation rates lately? they are at historic lows. if the parade of horribles doesn’t happen, shouldn’t that cause you to reconsider your understanding of the economy? economists have learned quite a few things since 1609… As I responded on that post, I’m not sure what “parade of horribles” he is referring to;...
Radio Free Acton with Amity Shlaes
In continuing with the work of highlighting Calvin Coolidge at Acton, Marc Vander Maas and I recently spoke with Amity Shlaes. Shlaes’s biography of the 30th president will be out in early 2013. She is a big fan of the Acton Institute and praised our work saying, “Acton has been all over the Coolidge case.” Shlaes is also interviewed in the Fall 2009 issue of Religion & Liberty. Listen to the podcast below: [audio: Marc and I also recorded an...
ResearchLinks – 08.03.2012
Articles: “Invited Articles: Business as Mission” Journal of Biblical Integration in Business 15, no. 1 (Spring 2012) The most recent issue of JBIB focuses on the subject of hybrid business and features a controversy on the subject of Business as Mission. Margret Edgell, the issue’s guest editor, describes it as follows: “Three invited authors respond to each other from their different disciplinary and theological perspectives. They raise and debate the question: Is Business as Mission a new field with great...
The High Cost of Conscience
The Obama administration’s controversial contraception-abortifacient mandate goes into effect yesterday, creating a difficult choice for pro-life business owners. If employers don’t change their plans, they will be hit with fines of up to $100 per employee per day. But if they stop providing health coverage, employers with more than 50 employees could be hit with an alternative fine of $2,000 per employee per year. As the Heritage Foundation has noted, for panies, the level of these fines would mean going...
The Tortured Logic of the Obamacare Law
The Affordable Care Act, monly known as “Obamacare”, is a strange law from the perspective of economic theories of insurance markets. Still, one can see where its designers were starting from. The individual mandate may be onerous from a liberty standpoint, but it makes sense if you understand that insurance markets are vulnerable to a phenomenon known as the “death spiral.” The idea behind the death spiral is based on the recognition that insurance is a risk management scheme. panies,...
When Should Christians Refuse to Pay Taxes?
As the federal government es ever more willing to use taxpayer dollars to fund activites that violate the conscience of its citizens, we’re increasingly faced with the question of whether we should refuse to pay those taxes. Theologian R.C. Sproul Jr. says the Christian answer is clear: . . . I can say with confidence that Christians should in fact pay whatever taxes they owe even when that money ends up financing abortions. The Christian who pays such taxes has...
The Faith of a Young Entrepreneur
In 2010 Alexandra Abraham slipped on a wet floor and into a business idea. According to Forbes magazine, U.S. restaurants face an estimated $2 billion in “slip and fall” lawsuits each year. So Abraham, a 23-year-old college student, designed and started manufacturing DripCatch, a plastic tray that snaps tightly on the racks that go inside industrial dishwashers to catch the water from getting on the floor. Abraham tells Resurgence how the experience has grown her faith and shown her how...
What Board Games Can and Cannot Teach Us About Economics
One of the most basic forms of entertainment that friends and families share together is playing board games, such as Monopoly or Risk. While we may not realize is how much these games are teach us about economic ideas such as trade or scarcity. I must confess I’m a bit of a board game snob. I don’t really care mon games like Monopoly as I prefer so-called “designer” games such as the Settlers of Catan or Power Grid. In an...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved