American politics has a large cast of villains these days, but few cut across party lines as consistently as big business. The Biden administration is already considering using antitrust to break up big tech, and it may go a step further with an executive order to curb market power in other industries. The details remain unclear, but the order, still under consideration, would apparently give the government more power to regulate large firms.
Before we accede to government restructuring of the economy, we should first understand why big firms are dominating the market and whether they really harm the economy and workers as much as critics allege. It’s not enough simply to assume that big is bad.
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