In this “monopoly edition” of Perspectives, Matt Stoller, author of Goliath: The 100-Year War Between Monopoly Power and Democracy, forecasts the actual amount of the Wall Street bailout; the coming disappearance of most small business; the problems that emerge when monopolies control health care; the emergence of a Wall Street-oriented “planned economy”; the failure of progressives to stop the theft of trillions, and much more.
Oren Cass invited me to contribute to this site not as a conservative but as a lefty and Democrat who is fascinated by the project of intellectual revival in which this network of thinkers is engaged. The contributors share an important goal, which is to rebuild an economic and political consensus in favor of the national interest, and to discard the hollow promises of neoliberalism/libertarianism. I’m going to try to provoke and prod, to force this community to strengthen their thinking.
My own reason for participating is to both learn, and to encourage both parties to compete for votes based on a view of a moral society that situates power in the hands of local communities, families, and producers, and removes power from the middlemen on Wall Street and at McKinsey, who today organize our corporate state. My view is that it is monopolists, in industries as varied as candy to coffins to missiles, who control the commerce and politics of our nation, so building community sovereignty and a vibrant self-governing republic means taking on the central challenge of monopoly.