The United States has a long history of anti-monopoly sentiment. In the late 19th and early 20th centuries, fighting big business was a major issue in politics, with leaders across the political spectrum promising to take on large corporations. Fed up with child labor, dangerous working conditions, low wages, political corruption, and ruthless business practices, [...]
A few months ago, the pharmaceutical company Gilead Sciences set a price tag on their drug remdesivir, the first medication shown to be effective for treating coronavirus. The price was set at $520 per vial or $3,120 per treatment course. Experts have called the price “not exorbitant,” and some expected a higher price tag. Yet, [...]
Giants run the airline industry. Today, four airlines, American, United, Delta, and Southwest, control over 65 percent of the market. They achieved this level of dominance in just the past twenty years, with merger after merger cutting the number of major airlines left today into less than half the number that existed in 2000. The [...]
Yesterday, the CEOs of Amazon, Facebook, Google, and Apple testified before the House Judiciary Antitrust Subcommittee in a hearing on “Online Platforms and Market Power.” As Congress takes up the question of market power in the tech sector, the time is ripe to consider the issue in our broader economy. For decades, corporations in a [...]
