INDEX
A
Aetna, 42
Affordable Care Act, 99
aggregate demand, 90
agriculture
family farm, 43
monopolies, 3, 39, 40–41, 67, 95
Ailes, Roger, 105
Airoso, Tony, 92
A lsup, William, 64
Amendments to the Constitution
Fift h, 139
Thirteenth, 122
Equal Rights Amendment, 119–120
American Bar Association, 87–88
American Dream, 79
American Revolution, 12–15, 79, 127, 134. See also Founders
America Radio Network, 103–104
Ames, Mark, 72–73
Anderson, Butch, 100
Anderson, Jack, 57–58
Anti-Merger Act, 128
antitrust laws, 8, 83–85, 87, 95, 107, 130
Sherman Antitrust Act of 1890, 77, 81, 83, 88, 92, 99, 144–145
The Antitrust Paradox (Bork), 81
“Antitrust Project” (Director), 81
Asner, Ed, 103
auto industry, 44, 49, 71, 145
Azar, Alex, 98
B
Bain Capital, 104
balanced relationships, 4–5
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, 112
B anting, Frederick, 96
Basey, Merith, 97
Bezos, Jeff, 88–89
Bezos, MacKenzie, 88
Bill of Rights, 18–19
Block, Marc, 74–75
Bork, Robert, 8, 77, 81–90, 93, 121, 128–130, 142–143, 146
“The Antitrust Paradox”, 81
“The Crisis in Antitrust”, 82–85
fortunes made by, 86–89
Boston Port Act (1773), 14
Boston Tea Party, 13–15
Bretton Woods, end of, 47
British East India Company, 12–16, 22
Brown, Donaldson, 71
Buchanan, Frank, 71–72
bundling, 108–111
Bush, George W., 20, 48, 106, 143
C
California wildfires, 64–65
campaign contributions, 4, 8, 28–29, 113
Citizens United v. FEC, 66, 114, 141
Cancer, analogy with monopolies, xi, 1–9, 77, 126, 142–146
Captive Audience: The Telecom Industry and Monopoly Power in the New Gilded Age(Crawford), 38
Carnegie, Andrew, 145
Celler-Kefauver Act (1950), 144
cell phone service, 1, 38, 42, 78
Census Bureau data, 46
Central Labor Union of New York City, 27
CEO compensation, 46–48, 51, 125–126
Chamber of Commerce, 57–61, 71–73
Chamber of Fascist Corporations (Italy), 33–34
charter-mongering, 26–27
charters, corporate, xi, 136–138
Chicago School economists, 72, 77
economic theory of, 81–82, 87, 89–90, 118, 142. See also libertarians; Reaganomics
Chick-fil-A, 141–142
Christ, Rolf, 65
Citizens United v. FEC, 66, 114, 141
civic centers, 132–133, 132–135
civil rights movement, 6–61, 134
Clark, J. Reuben, 72
class system, 20
Clayton Antitrust Act (1914), 128, 144
Clear Channel, 104
Cleveland, Grover, 138
Clinton, Bill, 62, 77, 102, 143
clubs, exclusive, 132–133
college campuses, 59–61
colleges and universities, 59–60
Facebook as, 132–135
Commonwealth and Southern, 33
communist governments, 68
communities, 129–130
Community Environmental Legal Defense Fund (CELDF), 140
Community Health Systems, 100–101
American Revolutionary era, 14–16
commons and, 69
as core solution, 142–147
European Union, 38–39
restriction of, 42, 78, 90, 108–109, 120–121, 126
trade liberalization, 46
unbundling and, 108–109 See also Sherman Antitrust
Act of 1890 concentration of wealth, 1, 33–38, 92, 94–95, 102, 118
Bork’s view, 83–84
CEOs benefit from, 124–125
in New York, 33–34 See also fascism
Conceptual Guerilla (Joe Lyles), 121–122
conglomerates, 102
Congress, xi–xiii, 22–25, 36–37, 42, 83, 86–88, 110, 112, 120, 122
solutions for, 144–145
Congressional Record, 88
Constitution, 17–22 See also state constitutions
“consumer welfare”, 82, 86–88, 93, 126
Continental T.V., Inc. v. GTE Sylvania, 86–87, 144
Coombs, Guy, 92–94
Copyright Act of 1790, 24
copyright law, 24–26
See also patents coronavirus crisis, 9, 29, 146
Cornered: The New Monopoly
Capitalism and the Economics of Destruction (Lynn), 87
Cornuelle, Herb, 72
corporate death penalty, xii, 26, 29, 135–139, 147
corporate governance laws, 26–27, 51
corporations, as “persons”, xii, 115, 139
corruption, xii, 20, 56, 112–115, 128
Crawford, Susan P., 38
creativity, 7–9
crime, white-collar, 62
“The Crisis in Antitrust” (Bork), 82–85
Cuba, 68
D
dairy industry, 92–94
DC Circuit Court, 86
Dean Foods, 93
Defeat the Right in Three Minutes (Lyles), 121
Delaware corporations, 27–28
DellaVigna, Stefano, 106
De Loecker, Jan, 78–79
democracy, xii, 6, 8, 42, 57, 135, 147
FDR’s view, 34–37
local, 140–141
media and, 107
middle class as immune system of, 126–128
move toward feudal oligarchy, 76–77
Nelson’s view, 73
preemption and, 139–142
Democratic Party, 114
Democratic presidencies, 118–119. See also
Clinton, Bill; Roosevelt, Franklin
Delano democratic republic, 20
democratic socialism, 68–70
“demonstrable economic effect”, 86–87
deregulation, 4, 26–29, 43, 63, 71, 113, 144
of hospitals, 101
Powell and, 58–59
Republican administrations and, 34–36. See also Reaganomics (trickle-down economics)
Dickens, Charles, 127
DiLorenzo, Thomas J., 71
Director, Aaron, 81
Disney, Walt, 24–25
Dobe camp (!Kung Bushmen), 49–50
Drobny, Anita, 102
Drobny, Sheldon, 102
DuckDuckGo, 109
due process, 110
DuPont, 71
du Pont, Éleuthère Irénée, 145
E
East Germany, 68
Economic Policy Institute, 119, 125
economy, 3
gross domestic product (GDP), 39, 47–48, 55, 90, 142–143
monopolies as bad for, 7–9
education system, 112–113
Powell memo and, 59–61
racial disparities, 116–119
Eeckhout, Jan, 78–79
Eisenhower, Dwight D., 143
electric companies, 63
Eli Lilly Company, 96–98
Enron, 68 environmental issues, 5–6, 113, 128–130, 146–147
Environmental Protection Agency (EPA), 67
Equality Trust, 123
equal protection, 139
Equal Rights Amendment, 119–120
European Union, 38–39
F
factions, 21
Factories Act (1847), 49
fairness, 123
in America today, 37–43
Roosevelt warns of, 32–37
FCC (Federal Communications Commission), 62, 109–110
Federalist No. 10, 21
Federal Reserve Bank, 47, 73, 142–143
Federal Trade Commission (FTC), 3, 87
new era of, 74–77
Feudal Society (Bloch), 74–75
First National Bank of Boston v. Bellotti, 66, 141
Flint Sit-Down Strike of 1937, 49
food industry monopolies, 39, 40–41, 92–95
Forbes 400 richest Americans, 55, 76
foreign corporations and governments, 4, 56, 141
Fortune 500, 27–28
Foundation for Economic Education (FEE), 71–72
Founders, 8
challenge to monopoly, 15–20
Madison’s vision, 20–22
on patents and copyrights, 22–26. See also American Revolution
Fox Effect, 106–107
free market ideology, 37, 59–60, 83
Friesen, Steven, 56
G
GBAO Strategies, 111
gender inequality, 119–121, 132
General Motors, 71
Georgia Power Company, 32–33
Gilded Age, 15
Gilens, Martin, 114
government alleged to be monopoly, 63–67
“big government”, libertarian views of, 62, 70, 73
branches of, 56
core function to fight factions, 21
distrust of encouraged, 21–22, 62, 70
Founders challenge monopoly, 15–20
as main counter to monopolies, 8 15, 51, 73–74
origin of, 20–21
Grant, Ulysses S., 49
Great Crash of 1929, 26
Great Depression. See Republican
Great Depression
Great Recession of 2008–2009, 47
Great Society, 57
Greece, ancient, 23
“greed is good” ideology, 89
Griswold v. Connecticut, 119
G. R. Kinney, 85
grocery market, 39, 40–41, 90, 93
Groom, Nichola, 65
gross domestic product (GDP), 39 47–48, 55, 90, 142–143
gun violence, 114
H
Hanna-Barbera productions, 50
Hardin, Garrett, 70
Harding, Warren G., 29, 34, 36, 60
Hawaii, 65
health care, 3, 69–70, 74, 98, 121
insulin production monopoly, 95–98
in other countries, 69–70
prescription drug industry and deaths, 112
Health Care for America Now, 42
health insurance monopolies, 3, 42, 78, 112, 125–126
health maintenance organizations (HMOs), 101
Hemsley, Stephen J., 126
Heritage Foundation, 104
Hewes, George R. T., 13–14
hoarding, by wealthy, 124
home equity, 117
Hooke, Robert, 23
hormone-interrupting compounds, 69–70
hospital consolidation, 80, 99–101, 125
House Select Committee on Lobbying Activities (Buchanan Committee), 71–72
Humalog, 98
Humana, 42
Hume, Brit, 105
hunter-gatherer communities, 20–21
I
Icahn, Carl, 130
immune system analogy, 5–6, 126–128, 144, 146
imports, 46
incentivizing innovation, 22–23
income
income to productivity disparity, 46–47, 51, 52, 53–54
stagnating wages, 46–48, 52, 54. See also wages
inequality, effects of, 123–124
innovation, 3, 22–24, 90, 121, 139
An Inquiry into the Nature and Causes of the Wealth of Nations (Smith), 6, 15–16
Institute for Policy Studies, 76
insulin production monopoly, 95–98
interest rates, lowering of, 143
Internal Revenue Service (IRA ), 67
internet, 132–133. See also Facebook
ISP corporations, 108–110
Italy, 33–34
J
Jackson, Andrew, 138
Jain, Dave, 100
Jefferson, Thomas, 15–20, 23–26, 102, 107
patent law and, 23–24
The Jetsons (television show), 50
John Birch Society, 72
Johnson, Carolyn Y., 97
judiciary, 56. See also Supreme Court decisions
K
Kaplan, Ethan, 106
Kennedy, John F., 143
Keynes, John Maynard, 43
Koch, Fred, 72
Koch brothers, 106
Koch Foods, 94
!Kung Bushmen, 49–50
L
labor
CEO paycheck related to, 123–126
cheap, 121–123
hours worked, 49–50
monopolies over, 120–121
labor movement, 49
laissez-faire economics, 64, 77
Lartey, Jamiles, 117
Lee, Richard Borshay, 49–50
Lee, Thomas, 104
Legum, Judd, 130–131
Leisure Society (Time article), 51, 54
destroyed by Reaganomics, 52, 52–55
big business ideology of, 71–74
talk shows and, 103–105 See also Chicago School economists
Lipska, Kasia, 98
lobbying, xii, 8, 42, 71–73, 112–113, 128–129
by British East India Company, 12
regulation of, 28–29
local democracy, 140–141
local government, 67
Lyles, Joe (Conceptual Guerilla), 121–122
Lynn, Barry C., 87
M
Macleod, John, 96
Magie, Elizabeth, 1
Maharis, George, 79
Main Street businesses, 8, 29. See also small businesses
mammal studies of unfairness, 123
markups, 79
“maximum wage” laws (England), 127
McGreal, Chris, 100
McGuire, William “Dollar Bill”, 125–126
media
Air America, 103–104
Bezos and, 88–89
bundling, 108–111
enforcement of antitrust laws, 115
Fairness Doctrine, suspension of, 62, 105
Jefferson on, 102
progressive, marginalization of, 4, 103–105
regulation of, 62, 105, 134–135
as a tool for monopolists, 51, 56–57, 62, 106–107. See also Facebook
Big Ag, 95
hospitals, 99–101
“Message to Congress on the Concentration of Economic Power” (Roosevelt), 34
Mickey Mouse copyright, 24–26
middle class decline of, 4, 29, 46–48, 57, 76–77, 90, 126–128
as immune system of democracy, 126–128
racial divide and, 115–120
rise of, 43–45
Milner, Martin, 79
monopolies as anti-business, 89–90
cancerous nature of, xi, 1–9, 77, 126, 142–146
definition, 1–3
as “evolutionary process”, 84–85
federal government as main competition, 8, 15, 51
food industry, 39, 40–41, 92–95
Founders’ challenge to, 15–20
government alleged to be, 63–67
health insurance, 3, 42, 78, 112, 125–126
media as tool for, 51, 56–57, 62, 106–107
types of, 22 See also natural monopolies
Monopoly (game), 1
“monopoly tax”, 1
Moon, Reverend, 105–106
Moore, Stephen, 73
Morgan, J. P., 145
Morin, Richard, 106–107
movement politics, 133
multigenerational debt, 20
Mussolini, Benito, 33
The Myth of Capitalism (Tepper), 78
N
Nader, Ralph, 82
National Association of Manufacturers, 73
National Council on Compensation Insurance (NCCI), 99
National Rural Health Association, 101
natural monopolies, 8
libertarian objection to, 71–74
publicly owned utilities, 63–64, 66, 135
refutation of, 71
Smith’s view, 15– 16. See also democratic socialism
Nelson, Herbert, 73
neoliberalism, 64, 77, 125, 129, 142– 144. See also Reagan Revolution net
neutrality, 109
New Jersey, 26–27
Newton, Isaac, 23
New York State Supreme Court, 27
NFL rules example, 42–43
Nixon, Richard, 57, 77, 86, 101
O
Obama, Barack, 141
Obama administration, 110
obesogens, 69–70
objectivists, 73
oligopolies, 39, 63, 77, 122–125, 142–144, 146
Orbach, Barak, 87–88
organized crime, 5 Oxfam, 40–42
P
Pacific Gas & Electric (PG&E), 64–65
Pai, Ajit, 109
Parliament, 12, 14, 17. See also Great
Britain Parscale, Brad, 134
PATCO (Professional Air Traffic Controllers Organization), 55
Patent Act of 1790, 23–24
patents, 143
incentivizing innovation, 22–24
insulin, 95–98 See also copyright law
Paul, Alice, 119–120
Pennsylvania, charter restrictions, 136–137
people of color, wealth inequality and, 118–119
Perdue Farms, 94
“PG&E Knew for Years Its Lines Could Spark Wildfires, and Didn’t Fix Them” (Wall Street Journal), 64
pharmaceutical monopolies, 95–98, 112
Philippon, Thomas, 1
Philpott, Tom, 39
Pickett, Kate, 123
Piketty, Thomas, 17
Pinochet, Augusto, 81–82
plutocracy, 61
policy outcomes, poor and middle class lack influence, 114
political influence of monopolists bribery, 8, 16, 20, 111–115, 141
corruption of government, 21–22, 56–63. See also deregulation; lobbying
Powell, Lewis (Powell Memo), 57–62, 86, 105
“Powell’s Lesson to Business Aired” (Anderson), 57–58
preemption laws, 139–142
Prescient & Strategic Intelligence, 97
price as Bork’s only consideration, 85–87, 128
“consumer welfare” and, 82, 86–88, 93, 128
of hospital care, 99–100
of insulin, 95–98
markups, 79
setting of by companies, 7, 42, 120–121
of utilities, 63
as Walmart’s only consideration, 92–93
of commons, 67–70
starve the beast strategy, 67
productivity increases not matched by wage increases, 46–47
increases over time, 46–47, 50–54, 52
profits increase in, 47–48
as percentage of GDP, 55
progressive activism, 4, 60–61, 104–105, 107, 132–133
Progressive Change Institute, 111–112
“Progressive Era”, 28
public companies, 77–78
public offerings, 28
Q
Quincey, James, 46
R
racial issues civil
rights movement, 60, 118–119, 134
Jim Crow laws, 117
hite wealth monopoly, 115–120
radio, regulation of, 134
Rand, Ayn, 73
Read, Leonard, 71
Reagan, Ronald, 6, 62, 67, 73, 114, 25–126, 142–143
lax enforcement of antitrust laws, 3, 87, 89–90, 99, 101–102
Reaganomics, 38, 43, 46–56, 118–119, 127–129
Reagan Revolution, 2, 5, 49, 143
tax cuts under, 46–47, 54–55, 76, 113, 125
Reaganomics (trickle-down economics), 38, 43, 46, 48–55, 52, 118–119, 127–129. See also deregulation
“Reagan Revolution”, 2, 5, 143
real estate industry, 5, 72–73
remunicipalization, 66
rent control, 72
Republican administrations, deregulatory actions, 34–36 See also Bush, George W.; Nixon, Richard; Reagan, Ronald
Republican Great Depression, 29, 35, 43–45, 60, 116
resistance to monopolies, 8, 28–29, 56
dangers to advocates, 17, 18 See also American Revolution; Founders
retirement savings, nonexistent, 126
Retrospect of the Boston Tea-Party, With a Memoir of George R. T. Hewes, a Survivor of the Little Band of Patriots Who Drowned the Tea in Boston Harbour in 1773 (Hewes), 13
Review of Austrian Economics, 71
revocation clauses, 136–138
Revolutionary War, 12, 140. See also American
Revolution “right to work for less”, 146
right-wing media, 102–105
Road to Air America: Breaking the Right Wing Stranglehold on Our Nation’s Airwaves (Drobny), 102
Roaring Twenties, 29, 36, 44, 59
Roberts, John, 87
Robert Wood Johnson Foundation, 80
Roman era, 56
Roosevelt, Franklin Delano, xii, 43, 58
New Deal economics, 57, 64, 118
warnings of fascism, 8, 32–37, 42
Roosevelt, Theodore, 6, 28, 132–133, 145
Rothbard, Murray, 71
Route 66, 79
Route 66 (television show), 79
rule-breakers, 5
rural areas, 32–33, 93, 99–102, 107, 122, 139
hospital closures, 99–101
monopolies and, 32–33
Rust Belt, 129
S
Saez, Emmanuel, 37
Sahlins, Marshall, 50
Santa Clara County v. Southern Pacific Railroad Co., xi–xii
scaremongering, 62
Scheidel, Walter, 56
Schneider, Rama, 102
Scientific American, 65
Second Bank of the United States, 138
setting prices, 120
shareholders, 64–65, 79, 101, 136
Sherman Antitrust Act of 1890, 77, 81, 83, 88, 92, 99, 144–145
Sirius satellite radio, 104, 107
slavery, 122 small businesses
American Revolution-era, 12
decline and weakening of, 8, 35, 37, 42–43, 77–80, 85–86, 89–90, 92–94
difficulties for due to monopoly, 3, 12, 20
Smith, Adam, 2, 6, 15–18, 20, 42, 43, 77–80
Smith, Alec Raeshawn, 95–98
social science textbooks, 60
Social Security, 67
solar power, 65
solutions, 9
ban preemption laws, 139–142
breaking up internet giants, 132–135
corporate death penalty/dissolve unethical corporations, 135–139
democracy’s immune system, 126–127
promoting competition, 144–145
replace “consumer welfare” framework, 128–130
Sonny Bono Copyright Term Extension Act, 25
South, wages and standard of living, 33
South Korea, 38
Soviet Union, 82
Standard Oil Trust, 26–27
state constitutions, 29, 136–137
state laws, 140
stockholders, 66, 69, 120, 135
Stone, Oliver, 130
Stone Age Economics (Sahlins), 50
supply chains, 92–95
“supply side” tax cut (1982), 76
Supreme Court, 56–59, 81, 85–87, 119, 140–142
Supreme Court decisions
Brown Shoe Co. v. United States, 85
Citizens United v. FEC, 66, 141
Continental T.V., Inc. v. GTE Sylvania, 86–87, 144
First National Bank of Boston v. Bellotti, 66, 141
FTC v. Actavis, 87
Griswold v. Connecticut, 119
McConnell v. FEC, 142
McCulloch v. Maryland, 140
Pennsylvania v. Nelson, 140
Santa Clara County v. Southern Pacific Railroad Co., xi–xii
Sweden, 98 Syndor, Eugene, Jr., 57–58
T
Taft, William Howard, 145
Taft-Hartley Act, 146
talk shows, 103–105
tariff s, 46–47
“taxation without representation”, 13
tax cuts, 4, 51, 53–55, 75–77, 143
American Revolution and, 12
Great Crash of 1929 caused by, 29
Reagan-era, 46
“supply side”, 76
taxes income tax rate, 55, 77, 113
Tea Act of 1773, 13
Tea Party, 74
telecom monopolies, 1, 7, 38, 42, 78
monitoring of online activity/net neutrality, 109–111, 135
right-wing radio monopoly, 4, 102–104, 107
Telecommunications Act of 1996, 62, 102, 105
unbundling telecom utilities, 108–111
Telecommunications Act (1996), 62, 102, 105
Tennessee Valley Authority, 64
Tepper, Jonathan, 78
Terkel, Amanda, 95
Texas Legislature, 141–142
think tanks, 51, 60, 67, 71–72, 86, 104
Tillman Act of 1907, 28–29
town square, online, 132
Trabbies (car), 68
trade liberalization, 46
Transnational Institute, 66
trickle-down economics. See Reaganomics (trickle-down economics)
Trump, Donald, 5, 48, 67, 73, 98, 133–134, 146
Trump administration, 9, 29, 110
Twin Rivers Hospital (Kennett, Missouri), 100–101
Tyson, 94
U
unbundling, 108–109
unemployment, 48
unfairness, perceptions of, 123
Unger, Gabriel, 78–79
unions, 27, 45, 47, 49, 51, 55, 61, 90, 127–129, 146
United Automobile Workers, 103
United Fruit, 72
United Mine Workers, 49
Universities Allied for Essential
Medicines (UAEM), 97
University of Chicago. See Chicago School
University of Toronto, 97
US Department of Agriculture (USDA), 67
US Steel, 71
customers penalized for solar installations, 65
privatization of, 64
publicly owned, 63–64
in rural areas, 32–33
V
Vanderbilt, Cornelius, 145
Vaughn, Benjamin, 23
Vietnam, 68
virtual private network (VPN), 109–110
Vogel, Ken, 104
W
wages cheap labor, 120–123, 127
driving down, 120
employee turnover, 44
low-paying, 48
as percentage of GDP, 55
productivity and, 44–47, 52, 53–54
smaller businesses forced to cut, 94. See also income
Wall Street, 39
Wall Street (movie), 130
Walmart, 39, 55–56, 84, 88, 92–94
Wang, Charles, 65
Warm Springs, Georgia, 32
Warren, Elizabeth, 114, 137–138
Washington Center for Equitable Growth, 37
Washington Post, 57–58, 88, 97, 106, 124
Washington Times, 105–106
“Was the ‘Crisis in Antitrust’ a Trojan Horse?” (Orbach), 88
Wayne, Chancellor, 100
wealth inequality, 6, 8, 55–56, 75–76, 92, 118, 127
increasing concentration in 1920s and 1930s, 35–37
societal damage caused by, 123–124
Welch, Robert, 72
WellPoint, 42
white monopolies, 115–120
Whole Foods Market, 94
Wilkinson, Richard, 123
Wilson, Woodrow, 27
Wisconsin law (1905), 28–29
women, inequality and, 119–120
workers discrimination against, 16
lack of representation, 3
as stakeholders, 128
stealing from, 124–125
work lives, theft of, 8
work week, 49
World War I, 45
World War II, 45
Wyden, Ron, 135
Wyoming Constitution (1889), 136
Z
Zaitchik, Alexander, 98