#20 The Monopoly Problem: How Market Power is Reshaping Our Economy with Matt Stoller
Description
Have you ever wondered why essential goods like baby formula, eggs, and lifesaving medications keep facing shortages? The answer lies in monopoly power—a force reshaping our world in ways both visible and hidden.
Matt Stoller, director of Research at the American Economic Liberties Project and author of "Goliath: The Hundred-Year War Between Monopoly Power and Democracy," joins us for a profound exploration of how concentrated economic power threatens not just markets but the systems that keep us alive. Drawing from his experiences working with the Financial Services Committee during the financial crisis and his popular monopoly-focused newsletter "Big," Stoller brings unique insights into this critical issue.
The conversation takes us through Boeing's transformation from industry gold standard to quality nightmare, revealing how consolidation destroys excellence when financial priorities overrule engineering expertise. We examine the global dimensions of market concentration, from tech giants to the surprising revelation that just two European companies control 90% of global chicken genetics. Stoller makes a compelling distinction between legitimate business success and empire-building, arguing that breaking up monopolies would actually unleash innovation by freeing talented people from corporate bureaucracy.
Perhaps most provocative is Stoller's critique of modern business culture, which has moved beyond cutting fat to slicing away "muscle and bone," leaving companies fundamentally unable to operate effectively. The path forward requires business leaders with the courage to invest in capacity and quality despite financial pressures—those who understand that breaking empires rather than building them creates both better products and higher profits.
Whether you're concerned about economic inequality, business innovation, or simply why things don't work as well as they used to, this conversation will transform how you see the forces shaping our economic landscape. Subscribe now and join the conversation about monopoly power and its profound impact on our world.
Link to Matt's ...
Book: Goliath: The 100-Year War Between Monopoly Power and Democracy
Please visit our website, www.businessandsociety.net, for more inspiration.