Pitchfork Economics with Nick Hanauer Back to Basics Series: How Monopolies Feed Plutocracy (with Matt Stoller)
Aug 19, 2025
In this engaging discussion, Matt Stoller, Director of Research at the American Economic Liberties Project and author of 'Goliath', reveals the insidious ways monopolies erode democracy. He highlights how concentrated corporate power not only warps markets but also fuels political control and authoritarianism. Stoller critiques traditional economic theories, examines the impact of monopolies on consumer welfare and income, and emphasizes the urgent need for collective action against corporate dominance to reclaim democratic freedoms.
AI Snips
Chapters
Books
Transcript
Episode notes
Monopoly Power Is Ubiquitous
- Monopoly concentration appears across virtually every market, not just Big Tech or airlines.
- That concentration transfers wealth upward and corrupts politics, producing regional and economic inequality.
History Shows Monopolies Are Controllable
- The U.S. previously restrained concentrated corporate power in the early 20th century and rebuilt a more democratic economy.
- That history shows monopoly is not inevitable and can be confronted politically.
Neoliberalism Frames Monopoly As Inevitability
- Neoliberal ideology framed economic concentration as inevitable and technical, removing political agency.
- That narrative discouraged democratic choices and ceded policymaking to technocrats and markets.
