If you look at misinformation online, I do see it that way. But you see companies abusing their positions as at the root of, what, a lot of the anger and polarization we see now? A history of “rejuvenating capitalism” using antitrust lawsīrancaccio: It’s a wild ride reading through the history in the book. And I tell the stories through history of the people, the faces of the people that took on monopoly power, and make the case we can do it again. And so that’s why I stepped back, looked at history, looked at how in the past, from farmers with pitchforks or union organizers, that we were able to make the case. Why does it cost so much for farmers to pay for seeds or fertilizer, get their goods to market? Look at monopolies: We’ve got monopolies in everything from cat food to caskets. They ask themselves, “Well, why don’t we have good privacy protections or doing something on misinformation in tech?” Well, part of it is we have big monopolies that are the gatekeepers. And people have to understand it’s affecting them. Big Tech makes up a full 20% of the total value of the stock market. It’s hurting our families, our workers, our democracy. I wrote this book because we have a serious competition problem in our economy right now. And part of my argument is: We’ve got to make this real. So, you know, if that doesn’t make you interested, I don’t know what. Amy Klobuchar: Oh, come on - I actually have a whole section in the book about the use of antitrust in famous programs like “Billions” and the James Bond movies. But if I were to pitch “Trustbusters 2021,” would anybody be interested? The following is an edited transcript of their conversation.ĭavid Brancaccio: If I were pitching a movie studio, maybe they would bite on “Ghostbusters 5: Next Generation,” or something. And look what’s happening: We literally are living in a new Gilded Age,” she told Brancaccio. And now, because of conservative courts, and because of literally no action by Congress, we’ve done nothing. “We have this history in our country of rejuvenating capitalism and using the antitrust laws to do that. With the publication of her book, Klobuchar is calling for a concerted effort from both the legislative and executive branches of government to strengthen existing antitrust laws, enact new ones and fortify the agencies charged with enforcing them. “We’ve got monopolies in everything from cat food to caskets.” They ask themselves, ‘Why don’t we have good privacy protections or doing something on misinformation in tech?’ Well, part of it is we have big monopolies that are the gatekeepers,” she added. “And people have to understand it’s affecting them. “I wrote this book because we have a serious competition problem in our economy right now. “We’ve got to make this real,” Klobuchar told “Marketplace Morning Report” host David Brancaccio. The idea of preserving competition and curbing monopolies used to excite the voting public, Klobuchar argues, until antitrust gained a reputation as too complicated and dry for the average person to engage with. The book charts two concurrent trends over the last several decades: a marked decline in anti-monopoly enforcement from the 1970s to today, and a steady move toward market concentration in most sectors. Amy Klobuchar, D-Minn., in her new book, “Antitrust,” and one she hopes might wake Americans up to the growing threat of monopoly power. industries became more concentrated between 19 - a statistic highlighted by Sen.
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