BONUS: Don't Pass Go—without learning more about monopolies (with Barry Lynn)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 19 July 2019

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re revisiting a timeless topic: monopolies! Expert Barry Lynn shares his thoughts on market concentration, the dangers of industrial monopolies like Boeing, and what ‘reigning in’ companies like Google, Facebook, and Amazon actually means. Barry Lynn is the Executive Director of the Open Markets Institute. Previously, he spent 15 years at the New America Foundation researching and writing about monopoly power. He is the author of ‘Cornered: The New Monopoly Capitalism and the Economics of Destruction’ and ‘End of the Line: The Rise and Coming Fall of the Global Corporation’. Twitter: @openmarkets Further reading: https://www.theatlantic.com/business/archive/2017/02/antimonopoly-big-business/514358/ https://openmarketsinstitute.org/op-eds-and-articles/why-competition-matters/ https://www.theguardian.com/commentisfree/2018/jul/26/google-and-facebook-are-strangling-the-free-press-to-death-democracy-is-the-loser https://www.theguardian.com/commentisfree/2017/nov/02/facebook-google-monopoly-companies

Transcript

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0:00.0	Hey, it's David Goldstein. We've got a lot of content from interviews we've been conducting
0:10.7	over the previous year, and this one is, I think, is particularly important.
0:16.2	On episode 13, we talked about monopoly and monopsony,
0:21.3	and nobody has covered market concentration longer and in more depth
0:27.6	than Barry Lynn, the director of the Open Market Institute.
0:31.5	He is the author of Corard, the new monopoly capitalism, and the economics
0:36.7	of destruction. And we talk to him not just about the dangers of monopoly and
0:41.9	monopsony, but what some of the policy solutions might be.
0:50.0	Actually, a lot of stuff has happened since we last talked.
0:53.6	You know, I want to give you an opportunity to talk about what you want to talk about,
0:57.8	but I thought maybe we'd start with your reaction to Senator Warren's proposals on antitrust and regulating the big tech firms?
1:10.0	Oh, we were thrilled. You know, we were completely thrilled by that proposal. You know, we've had a conversation going with the senator for a number of years now.
1:20.0	The senator, as you may recollect, she gave a terrifically important, probably the most important
1:26.5	speech about anti-monopoly since the 1930s back three years ago in 2016 and that in her speech 2016 really put
1:36.4	sort of America's monopoly problem on the map in a way that it had not been
1:42.2	before so this speech or this in a way that it had not been before.
1:43.0	So this speech or this presentation,
1:45.0	this set of policy proposals that she put out a couple of weeks ago
1:50.0	was building atop that, and it's very specifically focused obviously on the
1:56.9	tech platforms. It cut straight to the heart of the problem which is both the
2:02.4	structure and size of these corporations and then the
2:05.8	behavior of the parts of them that are monopolies.
	...

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