No images? Click here Welcome to The Corner. In this issue, we present four important new books that reveal in rich — and alarming — detail how so much of our economic and social lives have fallen under the control of immensely powerful private corporations. Event Alert: Barry Lynn Speaks With Zephyr Teachout and David Dayen on Tackling Monopoly Power The Open Markets Institute is delighted to invite you to join a public conversation between Zephyr Teachout and David Dayen about their respective new books, Break ‘Em Up and Monopolized. The event will take place on Tuesday, Aug. 25 at 1 p.m. Eastern and will be hosted by Open Markets Executive Director Barry Lynn. Register for the event here. Monopoly at the Beach - Open Markets Recommendations for Your August Reading This summer, we’ve seen a raft of excellent new books on the dangers of monopoly and what to do about it. The quantity and quality of the works illustrate the surging momentum of the anti-monopoly movement, as scholars, journalists, and activists work to expand our understanding of this crisis. In this late-summer issue of The Corner, we want to recognize four new books that stand out as worthy of adding to your anti-monopoly bookshelf, in the order in which they were published:
Thomas Frank, The People, No: A Brief History of Anti-Populism In his 11th book, Frank, the author of bestsellers What’s the Matter with Kansas? and Listen, Liberal, gives a sweeping history of the populist tradition in the United States. Frank details how Populism was first shaped by farmers and workers as a response to the concentration of economic power by private corporations in the 19th century. Populism was, Frank shows, one of the most important democratic movements in American history, one that later shaped many of the most important New Deal-era programs of the 1930s. Yet at the time, and ever since, plutocrats and their allies have erroneously tarred Populism as a movement that is largely racist and tribal in nature. Indeed, Frank details how this misrepresentation of Populism continues today, especially within Washington and New York progressive circles. Purchase the book here.
Zephyr Teachout, Break 'Em Up: Recovering Our Freedom from Big Ag, Big Tech, and Big Money In her second book, Teachout, a professor at the Fordham University School of Law, explains how every facet of American life is controlled by monopolists such as Monsanto, Google, and Facebook. Teachout explains how these monopolists use their market power to warp American industries to entrench their dominance. Teachout then details how this concentration of power and wealth affects America’s judicial and political systems, as well as the day-to-day lives of every citizen. Teachout’s remedy is simple: enforce antitrust law. Teachout’s contribution is a much-needed reminder that monopolies distort more than consumer preferences; they are also a direct threat to rule by the people. Purchase the book here.
David Dayen, Monopolized: Life in the Age of Corporate Power Dayen, executive editor of The American Prospect, explores the daily yet often indiscernible harms that monopolies cause in the lives of every individual and community. In his second book, Dayen goes beyond a factual analysis of America’s monopoly problem and presents personal stories that show in vivid detail how monopolies distort and manipulate many of our most mundane everyday interactions, even with members of our own families. Dayen’s stories portray the direct harms to society caused by monopoly, such as increased costs for medicine, slow and unreliable internet, and terrible customer service from airlines. Purchase the book here.
Tom Philpott, Perilous Bounty: The Looming Collapse of American Farming and How We Can Prevent It Journalist and farmer Philpott, in his first book, explores how a small group of corporations and financiers have captured control over the main chokepoints of America’s farming and food systems, and the ways their actions threaten the sustainability of our food supply. Philpott focuses on the two most abundant food-producing regions in the United States, the prairies of the Midwest and California’s Central Valley. Philpott explains how the industrial farming methods and crop monocultures of large corporations harm farmland and deplete vital supplies of water. Philpott bases his work on detailed interviews with farmers and elucidates some of the alternative practices that could help prevent environmental disaster. Purchase the book here. Event: Building a Truly ‘Public’ Health Care System The Open Markets Institute hosted a conversation on Aug. 6 about the potential for a new mass movement of patient-activists and health care providers dedicated to making sure that America’s health care system serves the public interest. Panelists discussed how monopolies have captured control over local health care delivery systems, including hospitals and doctors’ practices. These giant platforms also control many of the local markets for health insurance, giving them the ability to operate as both providers and purchasers of health care. The event was moderated by Open Markets Policy Director Phillip Longman, and panelists included:
The complete video of the entire discussion is available online here. 🔊 ANTI-MONOPOLY RISING:
📝 WHAT WE'VE BEEN UP TO:
We appreciate your readership. Please consider making a contribution to support the continued publication of this newsletter. 📈 VITAL STAT:20%The percentage of the S&P 500’s total market capitalization on Aug. 19 comprised by the five Big Tech monopolists: Amazon, Google, Facebook, Microsoft, and Apple. 📚 WHAT WE'RE READING:
BARRY LYNN’S NEW BOOK
Liberty From All Masters The New American Autocracy vs. The Will of the People St. Martins Press will publish Open Markets Executive Director Barry Lynn’s new book, Liberty From All Masters, on September 29. The book is Barry’s first since Cornered, in 2010. In it, he details how Google, Amazon, and Facebook developed the ability to manipulate the flow of news, information, and business in America, and are transforming this power into autocratic systems of control. Barry then details how Americans over the course of two centuries built a “System of Liberty,” and shows how we Americans can put this system to work again today. Pre-order your copy here. 🔎 TIPS? COMMENTS? SUGGESTIONS? We would love to hear from you—just reply to this e-mail and drop us a line. Give us your feedback, alert us to competition policy news, or let us know your favorite story from this issue. |