How Biden Can Break the Stranglehold of Amazon and Other Monopolies

From the time Joe Biden was a toddler through his mid-30s, wages in the country grew and the wealth created by economic growth was shared by everyone. But when Biden hit 40, everything started to change. The incomes of the front runners grew strongly while the wages of the middle class and the poor clashed against a wall. Workers’ power decreased and monopoly power increased. It became more difficult to organize workers, start new businesses, and organize capital more easily. It was the early 1980s and Ronald Reagan was president.

I dream that in the first 100 days of his presidency, Biden will present these stark facts and make it his mission to bring growth and justice to this country – and to destroy the gap between growth and mutual prosperity. He will say, “Shared prosperity is the only way worth fighting for because the prosperity of those at the top has been made possible through massive, unprecedented wage theft, unfair competition and the buying of our politicians by powerful interests. The result has been increased inequality, lower dignity, more instability, and corporate takeover of our sacred democracy. As your President, I will make it my solemn responsibility to free America from the vice grip of corporate monopoly. “

In that speech, Biden will announce that United States industrial policy will be to proactively support the work at every turn and to crush monopolies. He will direct the Department of Justice to review the antitrust guidelines of Reagan and his successors – George H.W. Bush, Bill Clinton, George W. Bush and Barack Obama, all of whom formulated their industrial policy in the speech of the “good of the consumer”.

Instead, the Biden guidelines state that the purpose of antitrust law is to protect democracy and ensure gross equality for citizens. Barry Lynn, author of the most recent book Freedom from all mastersargues that mere technical corrections will not be enough; We have to change the way the government approaches the whole problem of economic power in society. The biggest thing Biden could do, according to Lynn: “Get rid of the pro-monopoly philosophy of consumer protection in the Reagan era. There is nothing more important than saying that the purpose of the law is to protect democracy and freedom, not consumer welfare. “

Biden can boom into the White House with the vision that Ted Kaufman, one of his transition team chairs, has created for him. He praised Franklin Roosevelt’s aggressive approach to monopoly abuse and said, “The leadership of the FDR has brought us back into balance. There is no reason why through dedication and hard work we cannot do the same thing. “From Kaufman’s lips to Biden’s ear.

To add vigor and credibility to its challenge, Biden’s Federal Trade Commission was supposed to, in the first 100 days, tear down the ideological wall that has restricted the power of antitrust authorities to prevent the organization of capital. But it shouldn’t stop there. Biden can pursue an anti-monopoly policy throughout his administration if he takes the following steps:

.

Leave a Comment