Tuesday’s election will be a referendum on American capitalism

Michael Busler
3 min readNov 4, 2024

Americans face a choice: Continue with Biden’s regulatory agenda that could cripple the economy or restore free-market policies that foster growth and innovation.

Will Joe Biden succeed in undermining the pillars of American capitalism? The Wall Street Journal reported on Oct. 13 that the November election could decide whether Biden’s push to break up American companies simply for being “big” will succeed in the long run.

The Journal is correct. This election isn’t just a referendum on what the Biden-Harris administration has done to entrepreneurs over the past four years; it’s also a vote on the future of America’s economy. Another four years of the status quo could turn Biden’s unconventional policies into economic and legal precedents, causing lasting damage.

Once-successful companies are closing stores and laying off workers due to the unprecedented anti-business environment fostered by this White House.

This issue centers on how, after taking office, Biden and Harris ensured the confirmation of Lina Khan, a progressive favorite, to lead the Federal Trade Commission. Khan quickly reversed 40 years of consensus on antitrust policy by overturning the consumer welfare standard, which had limited government intervention in the economy to cases where consumers…

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Michael Busler
Michael Busler

Written by Michael Busler

Dr. Busler is an economist and a public policy analyst. He is a Professor of Finance at Stockton University. His op-ed columns appear in Townhall, Newsmax.

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