Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today released a statement, attributed to President and CEO Linda Moore, following an antitrust lawsuit filed by the Federal Trade Commission (FTC) against Amazon:
“American families are concerned about putting food on their tables and paying the bills. They don’t want federal agencies taking action that would raise prices while degrading the products and services they love and use every day.
“The FTC’s lawsuit against Amazon would, if successful, fundamentally weaken America’s antitrust laws by altering how the long-established consumer welfare standard is used to address harm to competition. The lawsuit would also force companies to raise prices for consumers across the country, create unintended consequences for America’s small businesses by undermining their efforts to innovate and better serve customers, and target U.S. businesses while doing nothing to address competitors from other countries, including China.”
In a blog post published today, TechNet examined the FTC lawsuit against Amazon and outlined how the case misinterprets existing law and would undermine our economy and global leadership in innovation.