Stephen Moore Weighs in on Antitrust Policy - Hits and Misses in his 'Course Correction on Antitrust Policy?'

Part of the expressed American belief in anti-monopolistic behavior (antitrust laws usually means anti-monopoly laws) dates back to at least the Boston Tea Party before the American Revolution formally began. There appears to be a growing understanding on the left and the right in the U.S. on why antitrust law enforcement matters. Many of the problems of our society could be tamed if antitrust law enforcement was robust, consistent, and routine. At the time of the post linked below, it was estimated by an antitrust researcher that American employees' incomes could rise by some 17 percent if antitrust laws were better enforced.

With that brief set up, according to his bio-in-brief: "Stephen Moore, who formerly wrote on the economy and public policy for The Wall Street Journal, is a distinguished visiting fellow for the Project for Economic Growth at The Heritage Foundation. He was a senior economic adviser to Donald Trump during the 2016 presidential campaign." From the Daily Signal to this writer for MHProNews and the "Reality Check" series for this Patch is the following in Part I. Additional insights plus other topics follow in Part II.

Part I

Commentary
A Course Correction on Antitrust Policy

Stephen Moore | July 11, 2025

The Department of Justice under President Donald Trump recently took a long-overdue step toward restoring sanity to U.S. antitrust policy.

Right before Independence Day, the DOJ backed away from an overreaching and misguided challenge to Hewlett Packard Enterprise’s acquisition of Juniper Networks. This reversal undoes the damage done by an interim antitrust official who signed the department onto the case 10 days after the inauguration.

As I previously wrote at The Daily Signal, the case never made sense as Hewlett Packard Enterprise-Juniper wouldn’t have even been close to being the U.S. market leader if the deal went through.

And let’s not forget that America is far behind Huawei, which the Department of Defense identified as a company controlled by China’s People’s Liberation Army, in the global telecom space. This merger would have helped the U.S. better compete with the Chinese Communist Party.

Cue the predictable outrage from the American Economic Liberties Project, a far-left advocacy group that never met a merger it liked.

In their eyes, this antitrust course correction is a corporate giveaway. It’s not. It’s a return to antitrust common sense.

While the Biden administration believed otherwise, antitrust enforcement isn’t supposed to be about punishing businesses for being big or successful. It’s about protecting competition, innovation, and ultimately consumers. And sometimes, mergers promote exactly those outcomes.

American Economic Liberties Project doesn’t see it that way. Its objection to the Hewlett Packard Enterprise-Juniper deal isn’t rooted in protecting the public. It’s rooted in the organization’s anti-corporate ideology.

The group wants to paint every merger as a threat and every successful company as a potential monopolist. That’s not sound economics. It’s an ideological grievance dressed up in legalese.

Look no further than the other cases the group is cheerleading.

It’s the same group behind the DOJ’s outrageous lawsuit targeting property management software providers like RealPage.

In that case, the government is trying to blame rent increases on software.

You read that right—not on housing supply shortages, inflationary spending, or local zoning rules, but on an AI algorithm.

A former senior Trump staffer rightly called this American Economic Liberties Project and President Joe Biden-pushed case “a transparently obnoxious case of politically motivated lawfare.” I agree.

Or take its applause for Biden’s suit against Visa’s debit card business. The theory? That Visa’s debit card fees “raise the price of nearly everything.”

Again, blaming a private company for inflation of the government’s doing. Never mind the dozens of competitors that Visa has or the total lack of evidence that the company has done anything anticompetitive.

Stay classy, Biden and the American Economic Liberties Project.

And who can forget the organization’s crusade to block the JetBlue-Spirit merger? That misguided challenge led directly to Spirit Airlines filing for bankruptcy, eliminating one of the only budget options in the air and reducing competition against the big four airlines. The outcome? Fewer choices and likely higher prices for travelers.

That’s the legacy of ideological antitrust enforcement—fewer options, weaker companies, and worse outcomes for consumers.

Antitrust enforcement should be guided by sound economic analysis, not ideological outrage. It should focus on real consumer harm, not hypothetical market scenarios cooked up by activists.
That doesn’t mean every merger should be rubber-stamped. But it does mean recognizing that many mergers make companies more competitive and efficient on both the domestic and global stages, especially in sectors where American leadership is vital. Blocking those deals out of reflexive hostility to big business only weakens our economy.

Let the American Economic Liberties Project rage. Their tired playbook of corporate scapegoating is wearing thin.

The Trump administration should continue to ignore the organization and remain focused on strengthening the U.S. economy, boosting the country’s competitiveness with China, and restoring the rule of law.

This paradigm shift is long overdue.

Part II - Additional information with more analysis, insights, commentary and other topics.

1) Moore is an intelligent fellow. I've listened to him live and in person, on TV, and have read scores of his articles. That said, two very specific and narrow critiques will be aimed at what he wrote above. Because even if there is an argument for the HP decision by DOJ, as Moore described it, Moore is arguably wrong on the RealPage case.

Ironically, he may be up against two fellow Republicans. One is Vice President J.D. Vance (R) and the other is the son of the president, Donald "Don" Trump Jr.

2) This writer for MHProNews personally asked Don Jr. about the importance of antitrust law enforcement at an AMAC event in Orlando, FL. Don Jr. said in reply that antitrust law enforcement is the #2 or #3 most important thing that has to be done to correct what has gone wrong in the U.S.

https://www.manufacturedhomepr...

https://www.manufacturedhomepr...

3) At least in the article above, Moore seems to ignore the obvious logic that VP J.D. Vance used with respect to illegal aliens occupying housing in the U.S. The more demand there is with a supply that is not growing at a sufficient pace means that housing costs would rise even faster. That same principle holds if private equity is increasingly purchasing and operating rental or other housing in a market manipulating way.

https://www.manufacturedhomepr...

https://www.manufacturedhomepr...

It would be inaccurate to say that the left and right see antitrust the same. They often do not. That said, at least on paper, there is a growing understanding across the spectrum that oligopoly style monopolization or antitrust violations are as problematic as if one or two firms dominate a market.

That sets the stage for the RealPage case.

https://patch.com/florida/lake...

To oversimplify, if you want more affordable housing, the DOJ's RealPage antitrust case matters to you and tens of millions of other Americans. This arguably impacts manufactured housing, as well as apartments, and other rentals.

https://www.manufacturedhomepr...

The reason that trade groups like the Manufactured Housing Institute (MHI) arguably downplay or ignore these issues is because their own members are often the ones involved. Who says? How about Mark Weiss, J.D., President and CEO of the Manufactured Housing Association for Regulatory Reform (MHARR).

Weiss isn't alone. Reseachers and professionals have been sounding off on this for years. When someone raises concerns about antitrust violations, monopoly power, or the like - that is a signal that you should lean in and pay closer attention. That is not a reason to let your eyes glaze over. Because antitrust laws are meant to protect consumers, employees, and smaller businesses. In the case of antitrust in manufactured housing, even if you or no one that you know ever steps foot in a manufactured home, that still matters to you. The housing market needs affordable homes that do not require taxpayer subsidies.

https://www.manufacturedhomepr...

4) In fairness to Moore, perhaps he was just imprecise in the above. That said, my impression is that he is in some cases wrong in his understanding of this issue and how it harmfully impacts the vast majority of Americans.

https://www.manufacturedhomepr...

https://www.manufacturedhomeli...

5) There is always more to know. Click on the articles above to dig in.

Other topics follow. Yours truly aims to keep you informed on, well, reality. Other topics follow and that's a wrap for today's installment of the "Reality Check" series for this Patch.

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L. A. “Tony” Kovach is a publisher who has earned multiple awards in history. He and his family live in a manufactured home on private property in Winter Haven, FL. He is the co-founder of Manufactured Home Living News.com (MHLivingNews.com) and Manufactured Home Pro News.com (MHProNews.com), trade publications serving segments of the manufactured home industry. Having worked in several segments of the manufactured home industry for over 3 decades, Kovach is a widely acknowledged and often praised expert on manufactured housing. ###

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