Why We Need Competition
ACROSS THE COUNTRY, Americans are looking at grocery bills, watching gas prices tick up—and wincing. Skyrocketing costs for food, fuel, housing, and travel make it hard to forget inflation is the highest it has been since the 1980s. Inflation is clearly weighing on your minds: A nationally representative CR survey of 2,076 U.S. adults this past May found that 85 percent are at least moderately concerned about higher prices, and just over half said they’re more cautious in their spending habits than they were six months ago. The ongoing debate over the cause of our current inflation might not offer solace—but it has led to overdue recognition that competition matters to the economy and to consumers. Take this year’s baby formula crisis. Parents scrambled to buy formula amid a shortage exacerbated by a…