Outcomes Not Competition  Darwin’s “survival of the fittest” and Ricardo’s “comparative advantage” are so century before last. Instead of a dog-eat-dog world, the Biden Administration’s diversity, equity and inclusion approach is coming after anything that looks like a Mastodon. As a signal ahead of this Fall’s election, Biden’s agency leaders gathered to discuss progress on their boss’s antitrust goals. USDA Secretary Tom Vilsack reportedly repeated his lament about consolidation in American agriculture. And the U.S. Trade Representaitve repeated her ideal that trade policy needs to evolve to become more like antitrust policy, bringing down foreign economic systems. The WTO...

TAGS – North America, Macroeconomics