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On Point with Meghna Chakrabarti

More than money: Solutions for reining in monopoly power

On Point with Meghna Chakrabarti

WBUR

Talk Show, News, On Point, Daily, Npr

4.33.9K Ratings

🗓️ 30 December 2022

⏱️ 47 minutes

🧾️ Download transcript

Summary

Rebroadcast: For antitrust reformers, the size and power of companies like Google and Facebook represent more than a threat to consumer welfare. It’s the final episode in our series “More than money." Matt Stoller, Jack Beatty and Carl Shapiro join Meghna Chakrabarti.

Transcript

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0:00.0

This is on point. I'm Magna Chocro-Bardi and welcome to the fifth and final

0:08.7

installment of our special week-long series More than Money, the cost of

0:13.2

monopolies in America. All this week we've been looking at the view ascendant

0:18.2

now among key members of the Biden administration that corporate monopolies

0:22.5

don't just harm competition and consumers, they harm democracy. To understand

0:29.0

just how powerfully these reformers believe it's time to revamp antitrust

0:32.9

regulation, let's pick up right where we left off yesterday with the last words

0:37.4

of the show uttered by Barry Lynn, executive director of the Open Markets Institute.

0:42.2

Well what will allow us to recapture our foundational liberties is to empower

0:48.1

every single citizen, United States to understand what is the threat which is

0:53.1

that when you allow concentration of power over communications, school,

0:57.0

Facebook, a concentration of power over the basic things of life, you yourself

1:05.2

will loot, you know, what is the threat of your democracy, your liberty, the

1:10.0

community in which you live, and if you look over here into this toolbox, what

1:16.6

you see is a set of tools that Americans created over the course of 200 years,

1:22.0

two centuries to solve every one of these problems. Lynn's evocation of history

1:28.9

is justified. In episode three of this series we talked about the successes of

1:33.2

the trust-busting progressive era. However, anytime I hear anyone advocate a set of

1:39.8

solutions quote to solve every one of these problems, it also sounds more than a

1:46.0

little bit like fairy dust. So today we're asking have antitrust reformers

1:51.9

like Barry Lynn, like FTC chair Lena Conn, like Jonathan Cantor, head of the

1:55.8

DOJ's antitrust division, have they identified the right problem but the wrong

...

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