Twenty-first century monopolies
Is current monopoly legislation equipped to regulate Big Tech?
Nearly everyone agrees monopolies are bad. That’s why there has been legislation limiting the dominance of companies, known as anti-trust legislation, for well over a century in the United States. But in the past anti-trust had as their target the traditional big companies like Standard Oil, with their dominance of physical resources and marketing networks and, most importantly, prices. Jonathan Tepper, author of the new book The Myth of Capitalism: Monopolies and the Death of Competition, takes us through the history and significance of anti-trust legislation. But are anti-monopoly laws equipped to deal with the tech giants of today? And can these companies even be called monopolies? We'll also hear from Sally Hubbard of the Open Markets Institute, and Alex Moazed, co-author of the 2016 book Modern Monopolies. (Picture: Vintage illustration of a wealthy oligarch looming over the factories and distribution centers of his manufacturing empire; lithograph, 1945. Credit: GraphicaArtis/Getty Images)