Aurelien Portuese and Stephen Ezell write for ITIF: Four out of five Americans say prescription drug prices are unreasonably high, according to a recent KFF survey—and people across the political spectrum say pharma profits are a major contributing factor. So it came as no surprise earlier this month when Sen. Amy Klobuchar (D-MN) called a hearing in the Senate Subcommittee on Competition Policy, Antitrust, and Consumer Rights to scrutinize alleged anticompetitive conduct in prescription drug markets. But in the end, the hearing merely demonstrated that, to the extent there is a problem with drug prices in America, antitrust policy is the wrong tool to address it.
Nigel Cory Luke Dascoli write for ITIF: Data-localization policies are spreading rapidly around the world. This measurably reduces trade, slows productivity, and increases prices for affected industries. Like-minded nations must work together to stem the tide and build an open, rules-based, and innovative digital economy.
Luke Dascoli writes for ITIF: The COVID-19 pandemic has undoubtedly been a massive economic disruption to big and small businesses alike. Business closures and labor-market distortions due to the pandemic shocked the U.S. economy, emulating past hardships like the Great Recession. Yet while economic growth, productivity, and rates of entrepreneurship fell in patterns like those in the Great Recession, U.S. entrepreneurship appears to be stabilizing far better this time around. A notable indicator of this ongoing aspect of recovery from the pandemic is the number of applications for new businesses.
ITIF writes: Many organizations fail to prioritize or even consider accessibility when designing their websites, which creates unnecessary obstacles for the over 40 million Americans who have a disability. Though legislation requires federal government websites to follow accessibility standards, many are not, making it more difficult for individuals to access government services. ITIF hosted an expert panel discussion on federal government web accessibility and policy proposals for agencies to improve their compliance.
go to ITIF website: Removing Barriers to Accessibility on Federal Government Websites | ITIF
Robert D. Atkinson writes for ITIF: With the rise of China and other robust economic competitors, the United States needs a more coherent national advanced technology strategy. Effectively crafting and implementing such a strategy requires the right kind of economic data. In part because of years of budget cuts to federal economic data agencies, coupled with a long-standing disregard of the need for sectoral and firm-level economic data to inform an industrial strategy, the federal government is severely lacking in the kinds of data needed.
see the ITIF’s website: Federal Statistical Needs for a National Advanced Industry and Technology Strategy | ITIF
The media has long played an important role in a healthy democracy, providing citizens with access to accurate news and information that allows them to effectively participate in democratic processes. However, the growing threat from deepfakes and disinformation, from both foreign and domestic sources, threatens to overwhelm the ability of individuals to discern fact from fiction, create new divides in society, and allow conspiracies, lies, and hoaxes to fester online.
Market competition is frequently perceived from a static perspective by antitrust enforcers. The reduction of the number of firms, the degradation of the market structure, and the increase in the size of some companies are causes for antitrust concerns, and subsequently, for antitrust interventions. How relevant the model of “perfect competition” is for antitrust enforcers? What would a dynamic perspective of antitrust entail about the relationship between innovation and competition? If competition is a source of innovation, innovation is often a source of competition. This causal relationship is often overlooked. What would an innovation-based antitrust suggest for today’s antitrust debates?
Despite legislative requirements, many federal government websites are not accessible for people with disabilities. This creates obstacles for millions of Americans, especially as the COVID-19 pandemic has moved many government services online.
Alarmists say the economy is experiencing a crisis of market concentration, with dominant players stifling competition in industry after industry. That is the pretext for a push to radically restructure antitrust policy—but newly released Census data largely contradict the claim.