Posted at Hartmann Report on Feb. 25, 2024
Monopoly Is Anti-business: The Hidden History of Monopolies
No matter how much Robert Bork and his colleagues say they’re “pro-business,” what they’re actually advocating is helpful only to a very small class of very large businesses and the very wealthy people who own them or their stock. Small and medium-sized businesses, entrepreneurs, workers, communities, and start-ups are badly damaged by the focus of antitrust law being kept entirely on prices that consumers pay. Bork—and indeed his entire class of Chicago School economists—was always focused on the interests of straight, white, wealthy men to the exclusion of women, communities of color, and people who were not the “makers” and “job creators” of their lore.
Consistent with that focus, whether applied to micro- or macroeconomics, to regulating pollution or monopolies, to their complaints about “anti-war hippies” “urban dwellers,” or “women’s libbers,” Bork and his friends managed to insert into the political and economic bloodstream of our nation the cancer-causing virus of “greed is good” ideology. Its impact has been devastating.