Better Offline Matt Stoller Explains Monopolies
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Aug 28, 2024 
Matt Stoller, an author and Research Director at the American Economic Liberties Project, dives into the pervasive issue of monopolies in America. He explains how these monopolies, especially in the tech sector, can cripple small businesses, inflate prices, and stifle competition. The conversation explores the political nature of monopolies, their impact on democracy, and the historical evolution of corporate power. Stoller also discusses the challenges and legal implications surrounding tech giants like Google and the urgent need for regulatory action.
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Monopoly as a Political Institution
- A monopoly isn't just an economic entity, it's a political institution.
- Monopolies wield governing power, setting prices and terms of trade like a private government.
Yelp and Google's Market Power
- Yelp's extractive business model, like charging to remove bad reviews, is influenced by Google's market dominance.
- Monopolies can force businesses into coercive practices to survive.
America's Monopoly Crisis
- America faces a monopoly crisis, with 75% of industries becoming more consolidated in recent decades.
- This consolidation leads to lower wages, higher healthcare costs, and reduced job mobility.