In the early 20th century, the idea that "big is bad" drove a muscular federal antitrust policy that viewed large corporations with suspicion. Then, in the 1980s, the Federal Trade Commission began to incorporate the lessons of economics, considering the welfare of consumers. Today, the Biden FTC wants to undo the last 40 years of antitrust policy, which it sees as a "failed experiment." Is the Biden administration right? To answer that question, I've brought on Timothy J. Muris.

Tim is a visiting senior fellow here at the American Enterprise Institute and foundation professor at the Antonin Scalia Law School at George Mason University. He served as chairman of the Federal Trade Commission under President George W. Bush. Tim's latest report for AEI is "Neo-Brandeisian Antitrust: Repeating History’s Mistakes."