Context — October 26, 2017, 10:55 am

Killing the Competition

Monopolization of our public markets is first and foremost a political crisis

Published in the February 2012 issue of Harper’s Magazine, “Killing the Competition” examines how new monopolies are destroying open markets. Read the full version of the story here.

[Lede]

From a New York Times editorial, published October 25, 2017, on whether the federal government will regulate the growth of tech companies.

We are now at another great turning point in the global economy. A handful of technology companies, the Frightful Five — Apple, Google, Microsoft, Facebook and Amazon, the largest American corporations by stock-market value — control the technological platforms that will dominate life for the foreseeable future.
     Yet despite their growth and obvious impact on the economy and society, technology has long been given a special pass. For nearly two decades, under Republican and Democratic presidents, most tech giants have been spared from much legislation, regulation and indeed much government scrutiny of any kind.

Fear, in any real market, is a natural emotion. There is the fear of not making a sale, not landing a job, not winning a client. Such fear is healthy, even constructive. It prods us to polish our wares, to refine our skills, and to conjure up—every so often—a wonder.

But these days, we see a different kind of fear in the eyes of America’s entrepreneurs and professionals. It’s a fear of the arbitrary edict, of the brute exercise of power. And the origins of this fear lie precisely in the fact that many if not most Americans can no longer count on open markets for their ideas and their work. Because of the overthrow of our antimonopoly laws a generation ago, we instead find ourselves subject to the ever more autocratic whims of the individuals who run our giant business corporations.

The equation is simple. In sector after sector of our political economy, there are still many sellers: many of us. But every day, there are fewer buyers: fewer of them. Hence, they enjoy more and more liberty to dictate terms—or simply to dictate.

Over the past four years of financial collapse, many of us have come to view markets as a fantastical scam: a giant mechanism geared to transfer our hard-earned dollars into the hands of a few select bankers. And when it comes to the Wall Street markets we rely on to trade our equities and debt and commodities, this sentiment is not all wrong.

But as every previous generation of Americans understood, a truly open market is one of our fundamental democratic institutions. We construct such markets to achieve some of our most basic rights: to deal with whom we choose, to work with whom we choose, to govern our communities and nation as we (along with our neighbors) choose.

And so, as every previous generation of Americans also understood, monopolization of our public markets is first and foremost a political crisis, amounting to nothing less than the reestablishment of private government. What is at stake is the survival of our democratic republic.

Continue reading

Share
Single Page

More from Barry C. Lynn:

From the November 2015 issue

The New China Syndrome

American business meets its new master

Commentary February 3, 2012, 1:58 pm

Obama’s Big Shtick

Get access to 167 years of
Harper’s for only $45.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

December 2017

“I am Here Only for Working”

= Subscribers only.
Sign in here.
Subscribe here.

Dear Rose

= Subscribers only.
Sign in here.
Subscribe here.

The Year of The Frog

= Subscribers only.
Sign in here.
Subscribe here.

Dead Ball Situation

= Subscribers only.
Sign in here.
Subscribe here.

Document of Barbarism

= Subscribers only.
Sign in here.
Subscribe here.

Destroyer of Worlds

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
Destroyer of Worlds·

= Subscribers only.
Sign in here.
Subscribe here.

In February 1947, Harper’s Magazine published Henry L. Stimson’s “The Decision to Use the Atomic Bomb.” As secretary of war, Stimson had served as the chief military adviser to President Truman, and recommended the attacks on Hiroshima and Nagasaki. The terms of his unrepentant apologia, an excerpt of which appears on page 35, are now familiar to us: the risk of a dud made a demonstration too risky; the human cost of a land invasion would be too high; nothing short of the bomb’s awesome lethality would compel Japan to surrender. The bomb was the only option. Seventy years later, we find his reasoning unconvincing. Entirely aside from the destruction of the blasts themselves, the decision thrust the world irrevocably into a high-stakes arms race — in which, as Stimson took care to warn, the technology would proliferate, evolve, and quite possibly lead to the end of modern civilization. The first half of that forecast has long since come to pass, and the second feels as plausible as ever. Increasingly, the atmosphere seems to reflect the anxious days of the Cold War, albeit with more juvenile insults and more colorful threats. Terms once consigned to the history books — “madman theory,” “brinkmanship” — have returned to the news cycle with frightening regularity. In the pages that follow, seven writers and experts survey the current nuclear landscape. Our hope is to call attention to the bomb’s ever-present menace and point our way toward a world in which it finally ceases to exist.

Illustration by Darrel Rees. Source photographs: Kim Jong-un © ITAR-TASS Photo Agency/Alamy Stock Photo; Donald Trump © Yuri Gripas/Reuters/Newscom
Article
Crossing Guards·

= Subscribers only.
Sign in here.
Subscribe here.

The Ambassador Bridge arcs over the Detroit River, connecting Detroit to Windsor, Ontario, the southernmost city in Canada. Driving in from the Canadian side, where I grew up, is like viewing a panorama of the Motor City’s rise and fall, visible on either side of the bridge’s turquoise steel stanchions. On the right are the tubular glass towers of the Renaissance Center, headquarters of General Motors, and Michigan Central Station, the rail terminal that closed in 1988. On the left is a rusted industrial corridor — fuel tanks, docks, abandoned warehouses. I have taken this route all my life, but one morning this spring, I crossed for the first time in a truck.

Illustration by Richard Mia
Article
“I am Here Only for Working”·

= Subscribers only.
Sign in here.
Subscribe here.

But the exercise of labor is the worker’s own life-activity, the manifestation of his own life. . . . He works in order to live. He does not even reckon labor as part of his life, it is rather a sacrifice of his life.

— Karl Marx

Photograph from the United Arab Emirates by the author. This page: Ruwais Mall
Article
The Year of The Frog·

= Subscribers only.
Sign in here.
Subscribe here.

To look at him, Sweet Macho was a beautiful horse, lean and strong with muscles that twitched beneath his shining black coat. A former racehorse, he carried himself with ceremony, prancing the field behind our house as though it were the winner’s circle. When he approached us that day at the edge of the yard, his eyes shone with what might’ve looked like intelligence but was actually a form of insanity. Not that there was any telling our mother’s boyfriend this — he fancied himself a cowboy.

“Horse 1,” by Nine Francois. Courtesy the artist and AgavePrint, Austin, Texas
Article
Dead Ball Situation·

= Subscribers only.
Sign in here.
Subscribe here.

What We Think About When We Think About Soccer, by Simon Critchley. Penguin Books. 224 pages. $20.

Begin, as Wallace Stevens didn’t quite say, with the idea of it. I so like the idea of Simon Critchley, whose books offer philosophical takes on a variety of subjects: Stevens, David Bowie, suicide, humor, and now football — or soccer, as the US edition has it. (As a matter of principle I shall refer to this sport throughout as football.) “All of us are mysteriously affected by our names,” decides one of Milan Kundera’s characters in Immortality, and I like Critchley because his name would seem to have put him at a vocational disadvantage compared with Martin Heidegger, Søren Kierkegaard, or even, in the Anglophone world, A. J. Ayer or Richard Rorty. (How different philosophy might look today if someone called Nobby Stiles had been appointed as the Wykeham Professor of Logic.)

Tostão, No. 9, and Pelé, No. 10, celebrate Carlos Alberto’s final goal for Brazil in the World Cup final against Italy on June 21, 1970, Mexico City © Heidtmann/picture-alliance/dpa/AP Images

Chances that a gynecologist in Italy refuses to perform abortions for religious reasons:

7 in 10

A newly discovered microsnail can easily pass through the eye of a needle.

Moore’s wife published a letter of support signed by more than 50 pastors, and four of those pastors said they either had never seen the letter or had seen it before Moore was accused of sexual assault and asked to have their names removed.

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Report — From the June 2013 issue

How to Make Your Own AR-15

= Subscribers only.
Sign in here.
Subscribe here.

By

"Gun owners have long been the hypochondriacs of American politics. Over the past twenty years, the gun-rights movement has won just about every battle it has fought; states have passed at least a hundred laws loosening gun restrictions since President Obama took office. Yet the National Rifle Association has continued to insist that government confiscation of privately owned firearms is nigh. The NRA’s alarmism helped maintain an active membership, but the strategy was risky: sooner or later, gun guys might have realized that they’d been had. Then came the shootings at a movie theater in Aurora, Colorado, and at Sandy Hook Elementary School in Newtown, Connecticut, followed swiftly by the nightmare the NRA had been promising for decades: a dedicated push at every level of government for new gun laws. The gun-rights movement was now that most insufferable of species: a hypochondriac taken suddenly, seriously ill."

Subscribe Today