Al Franken Quotes
Changing technologies, changing marketplaces, and even changing trends in anti-competitive practices have all presented challenges to antitrust enforcement.
Franken, Al. Statement at Senate Judiciary Subcommittee on Antitrust, Competition Policy and Consumer Rights. Washington, D.C., 2015.
Here, an officer of a large corporation (Pittsburgh Plate Glass) makes the classic argument of large corporations about the anti-trust laws which prevent them from using their economic power to crush competition. The claim that the large corporations are at a disadvantage and handicapped in competing with small companies is easily refuted by the bankruptcy rate of small businesses which is large, and that of large corporations which is very small, and that of major monopolies which is virtually zero.
A justification of some mergers that would lessen competition was that the consumer would not be harmed as the merger will produce cost savings that could be passed on to the consumers. However, others argued that if the competition were reduced there would be no pressure on the merged companies to pass any savings along to the consumer. However, in this opinion, Justice Douglas set forth a basic principle of regulatory law: Even though the merger might have some consumer benefits, that is still no justification for doing.
Alan Stuart Franken is an American comedian, politician, media personality, and author who served as a United States senator from Minnesota from 2009 to 2018. He became well known in the 1970s and 1980s as a staff writer and performer on the television comedy show Saturday Night Live. After decades as a comedic actor and writer, he became a prominent liberal political activist, hosting The Al Franken Show on Air America Radio.
