Elizabeth Warren’s shocking Spirit folly will hurt all air travelers
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Markets are more flexible, more innovative, and move faster than the government. Still, repeatedly over the years we have seen the government decide to take antitrust action against innovative private companies, only to realize years later, as the markets in question matured, just how costly and counterproductive such moves truly were.
Now, as Yankees catcher Yogi Berra once said, it’s “déjà vu all over again.”
In the 1960s, government antitrust lawyers at the Department of Justice targeted IBM. “Big Blue” was sued under the Sherman Antitrust Act, with the feds claiming it attempted to monopolize the market for “general-purpose digital computers.”
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Embarrassingly, a cottage industry of personal computers was coming into the computer market at the time, making IBM far from the only game in town. The case, however, lingered for more than a dozen years until, on January 8, 1982, the Department decided it lacked merit.
Democrats are attacking the proposed merger between JetBlue and Spirit Airlines.
In the 1990s, the Clinton administration targeted Microsoft for offering its Internet Explorer browser as part of its operating system,