Antitrust for All of Us

January 12, 2024

The reinvigorated fight against market consolidation is a fight against lower standards of living.

The Roosevelt Rundown features our top stories of the week.

Confronting Market Power

Rising market power in the United States has resulted in higher corporate profits, more concentrated markets in various sectors, and less economic competition. Roosevelt Institute Chief Economist Joseph Stiglitz wrote this week about how the Biden administration is seriously addressing these threats to the dynamism of the US economy—and to the well-being of workers.

Federal antitrust authorities have successfully pressured companies to halt mergers, such as last month’s failed effort by Adobe to acquire Figma. In December, the Department of Justice also released updated merger guidelines that place both horizontal and vertical consolidation under increased scrutiny.

“We all suffer from market power because it distorts markets in ways that reduce overall productivity and allows firms to raise prices, thus lowering standards of living,” Stiglitz writes. “At the same time, the combination of growing market power and weakening worker power has held down wages, eroding living standards still further.”

Read more in “The Biden Administration’s Recent Antitrust Wins Help Us All.”


What We’re Talking About


What We’re Reading

Biden Administration Issues Rule That Could Curb ‘Gig’ Work, Contracting – Reuters

US Moves Closer to Filing Sweeping Antitrust Case against AppleNew York Times

The US Is Reaping the Benefits of Low UnemploymentNew Yorker

CFPB Report Finds Long-Predicted Student Loan Servicer ProblemsThe American Prospect