There’s More Than One Way to Fight a Monopoly
Tougher regulation will help, but workers and small businesses also need the ability to join forces against corporate power.
Finally, the need for tougher antitrust enforcement is dawning on politicians across the American political spectrum. One company dominates online retail. Two ride-hailing companies dictate wages for hundreds of thousands of drivers. In agriculture, two chemical companies control the market for the most important seeds and have the leverage to gouge farmers. This is why a number of Democratic presidential contenders, including Bernie Sanders on the left and Amy Klobuchar in the center, have vowed to act against concentrated corporate power. Meanwhile, Donald Trump’s Department of Justice has initiated investigations of big tech companies. If federal agencies start busting up monopolies, halting big corporate mergers, and stopping predatory practices, the two of us would enthusiastically welcome the government’s new vigor.