What I Learned This Week

The theme of “What Trusts and Nazis Had in Common” is a powerful argument against corporate consolidation.

This theme can be found in The Myth of Capitalism: Monopolies and the Death of Competition by Jonathan Tepper with Denise Hearn, a book that illustrates how many industries in the U.S. are oligopolies. These oligopolies hinder competition, reduce productivity, heighten the wealth divide and hamper innovation. Their arguments are not falling on deaf ears and we suspect antitrust enforcement in the U.S. will begin a new chapter in the near future. We quote as follows: On July 5, 1945, the US Army had dissolved [IG Farben] into three main companies: BASF, Bayer, and Hoechst. General Dwight D. Eisenhower ordered the breakup of the monopoly. A few months earlier, a report commissioned by Eise…

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