In 1776, Adam Smith made perhaps the most famous statement linking monopoly power to labor. “Masters,” he wrote in The Wealth of Nations, “are always and everywhere in a sort of tacit, but constant and uniform, combination, not to raise the wages of labor above their actual rate.” Today, however, rather than taking Smith’s maxim as a warning, most lawyers and judges have come to treat it as a guidebook.
Opposition to globalization. Efforts to weaken intellectual property protections. Pushing for municipal broadband. Calls for the National Institutes of Health to develop drugs. What do these positions have in common? They are all examples of the recent turn toward anti-corporate progressivism.
While it falls short as an analysis of present-day American monopoly policy, Senator Hawley’s latest book constitutes a spirited, even landmark, political statement and call-to-arms for a deeper shift towards vigorous republicanism in the American conservative movement.
Justice Thomas has entered a hot debate about the best means of regulating social media. His approach to regulation tends to be more function-centric as opposed size-centric.
A strange development of recent years has been the revival on parts of the left and the right of the long-dormant ideology of antimonopolism, once associated with agrarian populists like William Jennings Bryan and progressives like Louis Brandeis.
U.S. antirust doctrine and practice has long failed to consider issues of industrial competitiveness.
In March, I could see that our social response to the coronavirus would be more consequential than the virus itself. Natural disasters can do great damage, but they do not usually change societies. By contrast, mass mobilizations for wars in the modern era have been deeply consequential.
Two Federal Reserve economists have just come out with a paper on the social consequences of widespread monopolization of markets by large corporations.
Wednesday’s “must watch” House Judiciary hearing with the CEOs of Amazon, Apple, Facebook, and Google raised a host of questions, including what the goal of antitrust should be (maximizing economic welfare or other goals, like protecting small business), and how should we think about platform industries.
The modern-day Titans of Industry testified before Congress Monday ostensibly for a hearing on anti-trust.
A Response to Rob Atkinson
Oren Cass invited me to contribute to this site not as a conservative but as a lefty and Democrat who is fascinated by the project of intellectual revival in which this network of thinkers is engaged.