“Competition is our fundamental national economic policy,” declared the Supreme Court a half-century ago as a matter of guiding principle. In recent decades, this principle has become more honored in its violation than in its observance. Public policy has failed to ensure that competition is not restricted or undermined in ways that are detrimental to public welfare and democracy. It’s time to play by the rules of American capitalism. Every too-big-to-fail corporation is a policy failure.
Istvan Dobozi, Sarasota, Fla.
The writer is a former lead economist at the World Bank.