Our nation’s antitrust laws were built to protect fair and competitive markets where small businesses, small farmers, and innovation could thrive. But the Reagan Administration reinterpreted those laws to protect “efficiency” instead, allowing bigger and bigger corporations to shut out competition in many once-vibrant areas of our economy.
Today in America, a handful of companies now control the vast majority of the market in industries ranging from beef, seeds, and milk; to airlines, semiconductors, and defense contracting and procurement—depressing wages and employment and dampening innovation. A first step to reversing this consolidation is to direct the U.S. Department of Justice to issue new policies to aggressively enforce our antimonopoly laws.
If you want to read more about this issue, check out The Wall Street Journal article titled “Behind Rising Inequality: More Unequal Companies“.