This Odd Lots podcast episode features an interview with Andrew Ferguson, the new FTC chair appointed under the Trump administration. The conversation centers on antitrust policy, exploring the differences and commonalities between the Biden and Trump administrations' approaches. Ferguson discusses his "conservative antitrust" approach, emphasizing a broader definition of consumer welfare than solely focusing on price and output, and the importance of vigorous enforcement to avoid excessive regulation. He also addresses the challenges of applying antitrust laws to the internet economy, particularly concerning content moderation and Section 230 reform. A key takeaway is Ferguson's belief that a broader understanding of consumer welfare is needed to address issues like product quality degradation and the potential for market power to be used for political purposes.
