An urgent and witty manifesto, Monopolies Suck shows how monopoly power is harming everyday Americans and practical ways we can all fight back.
Something’s not right. No matter how hard you work, life seems to only get harder. When your expenses keep going up but your income stays flat, when you’re price-gouged buying medicine for your child’s life-threatening allergy, when you live in a hyped-up state of fear and anxiety, monopoly power is playing a key role. In Monopolies Suck, antitrust expert and director at the Open Markets Institute, Sally Hubbard, shows us the seven ways big corporations rule our lives—and what must be done to stop them.
Throughout history, monopolists who controlled entire industries like railroads and oil were aptly called “robber barons” because they extracted wealth from everyone else—and today’s monopolies are no different. By charging high prices, skirting taxes, and reducing our pay and economic opportunities, they are not only stealing our money, but also robbing us of innovation and choice, as market dominance prevents new companies from challenging them. They’re robbing us of the ability to take care of our sick, a healthy food supply, and a habitable planet by using business practices that deplete rather than generate. They’re a threat to our private lives, fair elections, a robust press, and ultimately, the American Dream that so many of us are striving for.
In this slim, accessible guide, Sally Hubbard gives us an easy-to-understand overview of the history of monopolies and antitrust law, and urges us to use our voices, votes, and wallets to protest monopoly power. Emboldened by the previous century when we successfully broke up monopoly power in the US, we have the tools to dismantle corporate power again today—before their lobbying threatens to undermine our economy and democracy for generations to come.
Sally Hubbard is an antitrust expert and Director of Enforcement Strategy at the Open Markets Institute, an organization developing solutions to America’s monopoly crisis. She served as an Assistant Attorney General in the NYAG Antitrust Bureau, and was an investigative journalist covering mergers, monopolies, and privacy. She has testified in the US House of Representatives and before the Federal Trade Commission. She appears and is cited regularly as an antitrust expert in a wide range of media, including TheNew York Times, CNN, BBC World News, Vanity Fair, Washington Post, The Atlantic, Wired, and hosts the podcast Women Killing It. She lives in Brooklyn with her husband and two children.