Law360 Highlights AAI’s Congressional Testimony on Mergers and Innovation
Law360’s December 15, 2021 article “Lawmakers Worry Rampant Mergers Crushing US Innovation,” covered the testimony of AAI President Diana Moss before the U.S. Senate Committee on the Judiciary, Subcommittee on Antitrust, Competition and Consumer Rights.
From the article:
The vast technology sector was only one aspect of Wednesday’s hearing, however, as several witnesses talked about growing monopolies in pharma, real estate and other parts of the economy where they said behemoths’ market power was holding back innovation.
Diana Moss, president of American Antitrust Institute, told senators there are many reasons that innovation is currently struggling in the U.S. economy. She said the financial markets’ “laser focus on shareholder returns” based on the bottom line and short-term profits was making it more difficult for companies to invest in much-needed research and development.
“Another reason is weaker antitrust enforcement over the last 40 years,” Moss said.