Trump’s “Gettysburg Address” — What He Got Wrong

I covered, in brief, Trump’s Gettysburg speech here. In that essay we spoke approvingly of Trump’s agenda for his potential administration. However, not all that he said was good. For example, Trump said that he’d stop certain mergers that, he says, would undermine democracy. This is not what he should do as President.

These mega-mergers come about because of certain economic conditions, the economic landscape of America today: vast, stifling regulation that brings about massively wasteful expenses to be and to remain in compliance; ridiculous taxation levels that encourage businesses to grow to massive size — often through mergers — to park cash offshore in better tax climates; and more.

Trump proposed a good start to reducing regulation, but there’s a vast amount that he can do on Day One to reduce the horrible regulation that squashes the formation of small business competitors to the giants.

It’s aggressive small-business competition that would make it less likely that the giants would merge, because they would need to remain lean and mean to stay competitive.

Rather than interfering with perfectly legal interactions between American corporate entities, a Trump administration should do what it can to remove the obstacles to American economic dynamism, which would remove the massive incentives to merge that are in place today.

— xPraetorius







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