In industry after industry – airlines, banking, health care, agriculture, tech – a handful of corporate giants control more and more. The big guys are locking out smaller, newer competitors. They are crushing innovation. Even if you don’t see the gears turning, this massive concentration means prices go up and quality goes down for everything from air travel to internet service.
Massive concentration also means massive political influence. Giant companies can use their economic power to spend unlimited sums of money electing and manipulating politicians who will do their bidding. This kind of power distorts our economy and undermines our democracy.
Once upon a time, Washington prioritized strong antitrust enforcement that helped to increase consumer choice, keep doors open for new competitors, help small businesses grow, and make our economy and our democracy fairer and stronger. It’s time to do it again by standing up to mergers that reduce competition and demanding that agencies charged with antitrust enforcement do their job.