Zócalo Public Square

Unscrupulous lenders, mysterious new financial products, and shadowy banks might have taken most of the blame for the economic crisis, but the problem begins with a type of business that has troubled the U.S. since its founding: the monopoly. Over the last 30 years, regulation of monopolies has eased, leaving the companies commanding governments, courts, wars, resources, and even patents to the human genetic code. As consolidation proceeds largely unchecked across every sector — crushing entrepreneurs, stifling innovation, and inflating prices — monopolies threaten our economy and our democracy. Financial Times contributor Barry C. Lynn, author of Cornered: The New Monopoly Capitalism and the Economics of Destruction, visited Zócalo to illuminate the workings of monopolies and how they might be stopped.