October 16, 2021

U.S. Veterans

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How Biden Could Stop Big Business From Ruining Democracy

2 min read

How can the Biden administration implement antitrust policy to help take back American democracy from massive corporate powers? John Iadarola and Sarah Miller break it down on The Damage Report.

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"Concentrated economic power has reached extreme proportions in virtually every sector of the economy, from Big Tech to telecommunications, banking, hospitals, defense contracting, pharmaceuticals, and retail. Monopoly power is a causal factor in our most serious economic challenges, such as inequality, health care costs, farm bankruptcies, reduced entrepreneurship and productivity, the decline of the free press, and systems of racial discrimination.

To reverse America’s corporate concentration crisis, we need to understand its cause. This report traces the root of the problem to a deliberate series of policy choices to under-enforce antimonopoly laws. For decades, a narrow guild of antitrust enforcers in both parties allowed waves of corporate mergers and acquisitions, as well as predatory conduct by powerful monopolies to fortify and extend their power."

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