The story of how this came to pass is tawdry and oft-told: it’s the tale of how switching competition law’s enforcement to focus on “consumer welfare” (low prices) destroyed labor markets, national resiliency, and the credibility of democratic institutions. It’s the story of how control over industries dwindled to a handful of powerful people who captured their regulators and got themselves deputized as arms of the government.
Public sentiment is more alive to the problems of monopoly than at any time in decades, but still most voters don’t see monopolism as a great evil. They may worry that all their beer comes from two companies or that the internet has turned into five giant websites filled with screenshots of text from the other four.
I love this take, and I’m glad to see it being repeated.