With persistent inflation and growing concerns over a recession, pundits, policymakers, and the president have expressed concern about an alleged lack of competition lurking in the dark corners of the U.S. economy. As President Biden himself said, “capitalism without competition isn’t capitalism, it’s exploitation.” From Big Tech to baby food, both sides of the aisle are on the lookout for monopoly power. But sometimes the best place to hide is in plain sight.
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