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I’ve spent the summer mostly offline w/ my newborn, but I’ve still been immersed in & moved by the momentous challenges our country has been confronting. So, as I come back online, I want to share some thoughts & questions about the @FTC’s role & how we can be #antiracist. 1/14
I’ve advocated for stronger #enforcement of our #ConsumerProtection laws to address racial inequities affecting Black communities— some examples include predatory lending and sales practices; 2/14 https://www.ftc.gov/public-statements/2020/04/dissenting-statement-commissioner-rebecca-kelly-slaughter-regarding-ftc-v
#Discrimination in auto financing; 3/14 https://www.ftc.gov/public-statements/2020/05/statement-commissioner-rebecca-kelly-slaughter-matter-liberty-chevrolet
And #AI. We can & must do more w/ our consumer protection tools to prioritize addressing inequity. 4/14 https://www.ftc.gov/public-statements/2020/01/remarks-commissioner-rebecca-kelly-slaughter-algorithms-economic-justice
But I don't think there has been nearly enough discussion about whether our #antitrust laws can play a role in racial equity. I think the answer is YES! #antitrust can and should be #antiracist. 5/14
#Antitrust is about ensuring fair #opportunity for all competitors to the benefit of #consumers. As long as Black-owned businesses & Black consumers are systematically underrepresented and disadvantaged, we know our markets are not fair. We need to fix these inequities. 6/14
There’s precedent for using antitrust to combat racism. E.g., South Africa considers #racialequity in #antitrust analysis to reduce high economic concentration & balance racially skewed business ownership. 7/14 https://www.competitionpolicyinternational.com/south-africa-competition-law-and-equality-restoring-equity-by-antitrust-in-a-land-where-markets-were-brutally-skewed/
Even though we are working with different laws, as #antitrust enforcers in the US we can still use the tools we have to contribute to creating a more equitable and #antiracist economy. 8/14
Specifically, we can strategically deploy our existing tools to address mergers and conduct that contribute to the systematic disadvantages facing Black consumers and Black-owned businesses. 9/14
First, we must affirmatively look for the competitive effects on #consumers that are economically disadvantaged because of centuries of #racism. 10/14
Second, antitrust enforcers should intervene strategically to address the decline of Black businesses as a direct result of #anticompetitive M&A activity and anticompetitive conduct. 11/14
Beyond deploying resources to prioritize investigations that address systemic racism, the @FTC should consider whether there are opportunities to use our competition #rulemaking authority to address racist practices. 12/14
It is perfectly appropriate for us to use our existing #antitrust #enforcement tools, wherever possible, to right the wrongs of systemic racism. Indeed, I believe that it is our responsibility to do so. 13/14
I hope the entire #antitrust community will take responsibility for furthering the conversation about how antitrust law & #competition policy can help to make our nation and our economy more equitable and just. 14/14
