This chapter traces the history of the U.S. monopoly movement, discussing the shift in ideologies towards mergers and the impact of key figures like Milton Friedman. It explores the detrimental effects of ineffective antitrust regulations, particularly in the digital giants domain, and raises concerns about revolving doors between government roles and the private sector. Proposals for reforms and the practicality of implementing changes in various sectors are emphasized, along with insights into personal and investment pet peeves.
Jonathan Tepper is the founder of Variant Perception, an economic research group that works with institutional managers, hedge funds, and allocators to provide objective and comprehensive data to form actionable ideas from leading indicators and emerging trends. He is also the author of three books, the most recent of which, The Myth of Capitalism: Monopolies and the Death of Competition, received widespread acclaim earlier this year. Our conversation covers Jonathan's unusual upbringing, learning about currencies from Big Macs, building economic and liquidity forecasting models, and catering Variant Perception's research to investors. We then turn to The Myth of Capitalism, discussing the history, causes, and ramifications of the absence of competition in U.S. industries, natural and unnatural monopolies, examples in the tech giants, funeral home operators, airports, and hospitals, and what can be done to counter this negative trend.
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