Video: John Stossel on FTC’s odd definition of monopoly

The Federal Trade Commission (FTC) is one of those agencies that must intervene in the market all the time to protect the consumer. Everything from prices (SEE: 3 types of prices the government hates) to business practices, the FTC feels it has to impose itself to prevent businesses from taking advantage of the consumer or conducting business in an unfair and unjust manner. It’s a monster.

But why does trade need to be regulated? Why does a government body think it knows better than the free market? Why does the government have to inject itself into every aspect of a transaction?

John Stossel, Fox Business Network host, was at the FreedomFest recently and sat down with Whole Foods co-CEO John Mackey to discuss the company’s meeting with the FTC and its accusations that Whole Foods was creating a monopoly. The video just highlights the laughable nature of Washington bureaucrats and chief instigators of red tape.

Photo by David Shankbone.