The Prof G Pod with Scott Galloway Breaking Up Big Tech
Oct 1, 2020
Zephyr Teachout, an attorney and expert in antitrust law, dives into the colossal issue of monopoly power and its ramifications on the U.S. economy. She discusses her book, stressing the urgent need for regulatory reforms to counteract the influence of Big Tech. The conversation also explores tax disparities faced by the wealthy, as well as the intricate relationships between government and tech companies like Palantir. Teachout reflects on her political journey, advocating for greater democratic engagement and the importance of creative expression in addressing societal issues.
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Episode notes
Monopoly Power as Tyranny
- Monopoly power is a form of private government that threatens democracy.
- Big tech companies act like governments by taxing, regulating, spying, and controlling communication.
Weakening of Antitrust Enforcement
- The DOJ and FTC have become weakened due to direct attacks and a shift in focus towards consumer prices.
- Reagan's policies and judicial appointments played a role in weakening antitrust enforcement.
Advice for Biden Administration
- Biden needs a decentralized approach to revive the economy, like FDR's localized co-ops.
- Empower the FTC and DOJ to fight monopolies and issue new rules.
