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Barry Lynn – Why antimonopoly policy is so crucial to building a better future
Manage episode 430303023 series 3471117
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This week on The Nick Halaris Show we are featuring Barry Lynn, the Executive Director of the Open Markets Institute, an organization dedicated to using competition policy to build stronger democracies, more just and equitable societies, and more innovative and sustainable economies. Barry, a highly-regarded journalist, is also the author of 3 important books and a sought-after advisor for politicians on both sides of the aisle concerned about things like supply-chain fragility and the extreme concentration of economic power.
I wanted to have Barry on the show to highlight the important work he’s doing at the Open Markets Institute and to try to get a sense of what we might do to improve the competitive landscape in our economy. You don’t have to do much looking around to realize that we have a monopoly problem in our economy. A few very large and powerful companies have come to dominate economic life in almost every major industry. This concentration of power has introduced fragility into our system—as we saw during the COVID lockdown era—and has contributed to other problems like labor market stagnation and wealth inequality. It’s even harmed our democratic processes as well. Tune in to this important episode to learn:
- How the 1999 Earthquake in Taiwan and the subsequent disruptions in the semiconductor industry woke Barry up to the concentration risks in the global economy
- The huge risks to our economy and our democracy from the extreme concentration of economic power in the age of AI
- How it came to be that, until very recently, there wasn’t a single antitrust case filed in the US in several decades
- Why anti-monopoly enforcement is so crucial for creating a better, more efficient, and more equitable economy
- The positive steps taken by the Biden administration, with the support of many prominent Republicans, in stepping up antitrust enforcement
- & Much, much more
Stay tuned to the end to learn why Barry remains optimistic in the face of these challenges and believes that just by relearning how to use the tools of the past we can make a huge difference in shaping a more competitive future.
As always, I hope you all enjoy this episode. Thanks for tuning in!
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