Monopolies

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Americans were no longer citizens but consumers, and monopolies, according to luminaries such as Milton Friedman and Robert Bork, could serve consumers well. Fear not corporate power, fear merely Big Government. And let the expert economists make decisions about markets, not the rabble. By 1998, this philosophy was so inculcated in our governing elites that Larry Summers linked American global primacy not to ideals of freedom, but to corporate and institutional dominance, noting that “whether it is AIG in insurance, McDonald’s in fast food, Walmart in retailing, Microsoft in software, Harvard University in education, CNN in television news—the leading enterprises are American.”