The Federal Trade Commission recently testified before a U.S. House of Representative subcommittee about its measures to keep consumers protected against monopolies in a quickly-developing technology market.
“Some have argued that there should be different rules for markets characterized by rapid technological development, but Congress drafted the antitrust laws in general terms to accommodate changing markets and new products, and the laws are flexible enough to meet the challenges of the high-tech era,†said Bureau of Competition Director Richard Feinstein, testifying on behalf of FTC.
Future FTC strategy will focus on market data to predict future competition in the technology sector, and to guide its merger reviews.
“While that task may be slightly more challenging in markets that are experiencing rapid change, the commission relies on time-tested tools of investigation and analysis to protect consumers from anticompetitive mergers, and promote competitive markets where innovation and change can occur,†Feinstein said.
