The emerging split in modern trustbusting: Alexander Hamilton's Fully Automated Luxury Communism vs Thomas Jefferson's Redecentralization

From the late 1970s on, the Chicago School economists worked with the likes of Ronald Reagan, Margaret Thatcher, Augusto Pinochet and Brian Mulroney to dismantle antitrust enforcement, declaring that the only time government should intervene is when monopolists conspired to raise prices -- everything else was fair game. Read the rest

The problem isn't that Facebook is creepy, it's that it's creepy AND HUGE

Writing in Wired, Rep David N. Cicilline [D-RI], the ranking Democrat on the House Judiciary’s Antitrust Subcommittee; and Terrell McSweeny, outgoing Democratic commissioner at the Federal Trade Commission write about the real problem with Facebook: it's a creepy, surveillant company that's also really, really big. Read the rest

Research report explains how adtech supercharges political deceit, allowing even bumblers to be master propagandists

A new report from the New America Foundation uses the current fear that Russian government elements manipulated the 2016 US election to explore the relationship between advertising technology, surveillance capitalism, and "precision propaganda," showing how the toolsuite developed for the advertising industry is readily repurposable by even modestly competent actors to spread disinformation campaigns. Read the rest

EU fines Qualcomm over $1 billion for anti-competitive iPhone deal

The US -- allegedly a bastion of the "free market" -- has one of the world's lowest levels of economic competition, thanks to the triumph of the Chicago School economists, who used shitty math to convince Ronald Reagan and his successors that the only time a monopoly is a problem is when it raises prices. Read the rest

A preview of the lawsuits that will be filed to save Net Neutrality after the FCC voted to kill it today

Today, the FCC ignored tens of millions of Americans' views, as well as comments from the world's leading internet scientists and the inventors of the internet, and give a huge regulatory gift to the telcoms sector it is supposed to be regulating, rolling back Net Neutrality and allowing those companies to extort blackmail money from the web publishers you try to access through their lines. Read the rest

How the Chicago School's extremist ideology destroyed the American economy with unchecked monopolies

There was a time when monopolistic control over sectors of the US economy was vigorously checked through antitrust enforcement, but the neoliberal ideology of the Chicago economists (Milton Friedman et al) has eroded competition in America by convincing regulators that monopolies only need to be policed under very specific (and almost unheard-of) circumstances. Read the rest

John Oliver on monopolies, anti-trust and the death of real competitive markets

Lax anti-trust enforcement is destroying American democracy, growth and equality; it laid waste to minority-owned small businesses and "fleeced" the middle class, creating its own parallel "justice" system and laying waste to whole industries, with the complicity of the Democratic party (and the $1,000/hour expert "consulting" by superstar economists), and there's no end in sight, from Yahoo to Whole Foods. Read the rest

Bloomberg: Middle-class Americans were "fleeced" by neoliberalism

Noah Smith (previously) writes in Bloomberg (!) about the "fleecing" of the Gen-X and Boomer middle class -- a class that is growing continuously smaller and poorer, thanks to "financial deregulation, tax cuts and a lax attitude toward consumer protection and antitrust." Read the rest

Trump wants to kill the FAA and hand air safety to the big four airlines

The US aviation industry is highly concentrated, with only four major airlines left in the country; for years, they've been lobbying to get rid of the FAA and take over their own safety oversight. Read the rest

Monopoly power and the decline of small business: big business vs democracy, growth & equality

In the 15 years between 1997 and 2012: 72,000 small US manufacturers shut down; as did 108,000 local retailers and 13,000 community banks (fully half of America's complement of small banks!). The number of US startups has dropped by 50% since 1970. These statistics are not the result of the changing times: they're due to massive, monopolistic corporations stacking the deck against small competitors through unfair and corrupt practices, to the detriment of American growth, equality and democracy. Read the rest

Comcast's lobbyists are pretty damned chummy with top antitrust feds

A month before Comcast's announcement of a $45B takeover of rival Time-Warner, Comcast's top lobbyist invited the US government's top antitrust regulators to share the company's VIP box at the Sochi Olympics. Read the rest