Historically, Americans have joined together across party lines to contain political corruption by containing monopolies. It’s a lesson we need to learn again. Anti-monopoly policies that de-concentrate business prevent excessive concentrations of economic power so that democracy and freedom can flourish.
Uber, Facebook, and Google are increasingly behaving like the law-flouting financial empires of the 1920s, asserts Open Markets Fellow Matt Stoller. We know how that turned out. “The rule of law is a precious political achievement of liberal democracy,” Stoller writes. “It doesn’t just happen. We the people, along with elected public servants, have to make it happen. “
At a Senate oversight hearing last month, antitrust subcommittee Chairman Mike Lee, R-Utah, reacted to reports of disagreements between the Federal Trade Commission and the Department of Justice over who would investigate Facebook for antitrust violations. The whole exchange, however, revealed a deep misunderstanding of American’s antimonopoly tradition and political philosophy generally. Read the latest piece from The Corner newsletter.
In Washingtonian magazine, reporter Luke Mullins exposes Big Tech’s number one enemy: Open Markets Institute. As Mullins details, founder Barry Lynn and his team are shifting the debate over Big Tech, presenting potential antitrust solutions to challenge Silicon Valley’s monopoly power. The anti-trust movement has reached critical mass in Washington, writes Mullins. Barry Lynn and his allies helped put it there.
Bloomberg reporter Mike Dorning reports on how leading 2020 Democratic candidates view “antitrust action as long overdue” and that industries in the US could see a tougher stance from an incoming Democratic president. “Democratic presidential hopefuls are coming out in force against the rapid pace of corporate consolidation, a message to 2020 voters that gained volume during their first debates in Miami last week. They’re expanding their pledges to take on big tech, including Facebook Inc. and Alphabet Inc., to other industries.”
Open Markets senior fellow Matt Stoller talks to Business Insider’s Linette Lopez about the latest round of hearings by the House Antitrust Subcommittee. Lopez highlights that for the first time in a generation, Washington is questioning what it means to protect American Capitalism. “There’s an increasingly powerful bipartisan view of anti-trust,” Stoller told her.
Bloomberg’s Joshua Brustein profiles Rep. David Cicilline, Chairman of the House Antitrust Subcommittee, and speaks to Open Markets Deputy Director Sarah Miller about the official congressional antitrust inquiry scrutinizing big tech corporations and how it “provides a channel for uncovering so much material” that makes clear antitrust enforcement is necessary.
POLITICO’s Nancy Scola profiles Open Markets Institute in an exclusive feature. She tells the story of how Open Markets has “has spent years urging Washington to crack down on the United States’ biggest tech companies — a lonely crusade that barely registered with the political establishment. Now the Open Markets Institute has become one of the most influential drivers of Democratic politics in the fight to rein in Facebook, Amazon and Google.”