Second FTC hearing on Competition and Consumer Protection in the 21st Century features calls for the Commission to look beyond consumer welfare.

On September 21, 2018, the Federal Trade Commission (FTC, or the Commission) held the second hearing in its series of Hearings on Competition and Consumer Protection in the 21st Century. The Commission followed up on its first hearing by inviting comment on whether the FTC’s regulatory approach is in need of new objectives and/or applications to address today’s technology-driven economy. Hearing #2 focused on whether antitrust and consumer protection policy should seek to maximize something other than consumer welfare, while also exploring specific issues arising from “monopsony” or “buyer power” (particularly in labor markets). The FTC is expected to hold several more hearings lasting up to 18 additional days.