Competition, Consumer Policy, and International Cooperation

Obviously as the World moves closer together we see more and more cross-border issues which require cooperation with other nations to protect consumers, foster competition and keep things moving smoothly. In fact the mission is so important that it requires an agency in our government that knows what they are doing.

Personally in my opinion I do not trust the Federal Trade Commission to provide the leadership necessary to make this happen. In fact I am appalled at their previous and documented piss poor performance and would ask the US Congress to deny any budget increases and insist upon a reduction of 50% in their annual budget. Recently in an official report to the US Congress the FTC Stated:

“The FTC has worked with competition agencies worldwide to promote best practices and minimize policy divergences to ease burdens on firms that operate across the globe. Two key venues for competition officials to work toward a greater consensus are the Organization for Economic Coordination and Development (OECD) and the International Competition Network (ICN), a group launched four years ago by the FTC, the DOJ, and 13 other competition agencies that now numbers almost 90 member agencies. The FTC also advocates discussion of linkages between competition and consumer policy around the world. The FTC also devoted significant resources to assisting new competition agencies in countries with emerging market economies.”

I disagree with the FTC strategy as they attack our own companies here at home and burden them with incessant regulation making their ability to compete in the world markets lessened. In fact the FTC has no clue in my opinion as to how actual free markets work. It is probably the last agency I would want to help facilitate or dictate any type of cooperative policy across borders. What do you think of the FTC? Do you think we even need that little division of the Justice Department? Consider this in 2006 and axe their budget.