In Monopolies Suck, Sally Hubbard, the director of enforcement strategy at the Open Markets Institute, shows us the seven ways big corporations rule our lives—and what must be done to stop them. Monopolies make your life harder every day, but you may not realize it. When your expenses keep going up but your income stays flat, when you’re price-gouged buying medicine for your child’s life-threatening allergy, when you live in a hyped-up state of fear and anxiety, monopoly power is playing a key role.
Throughout history, monopolists who controlled entire industries like railroads and oil were aptly called “robber barons” because they extracted wealth from everyone else—and today’s monopolies are no different. By charging high prices, skirting taxes, and reducing our pay and economic opportunities, they are not only stealing our money, but also robbing us of innovation and choice, as market dominance prevents new companies from challenging them. They’re robbing us of the ability to take care of our sick, a healthy food supply, and a habitable planet by using business practices that deplete rather than generate. They’re a threat to our private lives, fair elections, a robust press, and ultimately, the American Dream that so many of us are striving for.
In this blunt, accessible guide, Sally Hubbard gives us an easy-to-understand overview of monopolies and antitrust law, and urges us to use our voices, votes, and wallets to protest monopoly power.