DO 293 - Antitrust Law, Beef Politics, and Actually Using Government Power

Doomer Optimism

Antitrust attorney Basel Musharbash discusses recent political whiplash in beef markets and the broader question of how actually to enforce anti-monopoly law. The conversation covers why ranchers erupted over being blamed for high beef prices, the history of promises versus lackluster execution going back to early 1900s meatpacking cases, and how the Packers and Stockyards Act was supposed to regulate these companies but never really worked except briefly in the 1940s, Reagan's 1982 announcement ending merger enforcement and the five year transformation that followed, the difference between free markets and accessible competitive markets, why monopolies arise even without government help through predatory pricing and exclusive contracts, the paradox of needing to use power to break up concentrated power, Robert Jackson's 1937 speech on economic democracy without bureaucracy or regimentation, concrete immediate actions like debarment from government contracts versus multi-year DOJ investigations, why Congress could pass a breakup bill instead of waiting on agencies, the political opportunity for either party to outflank the other on this issue, Dan Osborne's economic dictatorship framing, and why economists should maybe just be ignored entirely when they dismiss rancher testimony with modeling exercises.

Basel is Managing Attorney at the Antimonopoly Counsel, specializing in antitrust and trade regulation with a focus on agriculture, rural economies, and consumer protection. He has represented farmers against meat processors, defended workers from illegal noncompete agreements, and advocated before the FTC, DOJ, and USDA. Basel authored the landmark 2024 report “Kings Over the Necessaries of Life” on monopolization in American agriculture. His work has been featured in Reuters, AP, Time Magazine, CNBC, and other major outlets.