Monopolies Suck: 7 Ways Big Corporations Rule Your Life and How to Take Back Control

by Sally Hubbard

An urgent and witty manifesto, Monopolies Suck “lucidly explains how monopolies threaten democracy, worsen inequality, and imperil the American Dream—and why it’s more important than ever to take action” (David Cicilline).

Something’s not right. No matter how hard you work, life seems to only get harder. When your expenses keep going up but your income stays flat, when you’re price-gouged buying medicine for your child’s life-threatening allergy, when you live in a hyped-up state of fear and anxiety, monopoly power is playing a key role. In Monopolies Suck , antitrust expert and director at the Open Markets Institute, Sally Hubbard, shows us the seven ways big corporations rule our lives—and what must be done to stop them.

Throughout history, monopolists who controlled entire industries like railroads and oil were aptly called “robber barons” because they extracted wealth from everyone else—and today’s monopolies are no different. By charging high prices, skirting taxes, and reducing our pay and economic opportunities, they are not only stealing our money, but also robbing us of innovation and choice, as market dominance prevents new companies from challenging them. They’re robbing us of the ability to take care of our sick, a healthy food supply, and a habitable planet by using business practices that deplete rather than generate. They’re a threat to our private lives, fair elections, a robust press, and ultimately, the American Dream that so many of us are striving for.

In this “accessible guide” (Zephyr Teachout, author of Break ‘Em Up ), Sally Hubbard gives us an easy-to-understand overview of the history of monopolies and antitrust law, and urges us to use our voices, votes, and wallets to protest monopoly power. Emboldened by the previous century when we successfully broke up monopoly power in the US, we have the tools to dismantle corporate power again today—before their lobbying threatens to undermine our economy and democracy for generations to come.

Genres: Business, Politics, Economics, Nonfiction

320 pages, Hardcover

First published October 27, 2020

Reviews

[Ietrio · Rating 1 out of 5]

A very deceitful book. Sure, the monopoly is bad. Any way someone defines it, the results are bad for the general public. So what is the solution? Bring in some other monopoly, the state, as avenging angel. So the book isn't about monopolies at all. If anything Hubbard builds a case for stronger, more evil monopolies. The book is against the private sector. The book is against the little people. Why take free email from Google when you can pay a 30% sales tax to have a DMV-like government approved email?

[B · Rating 2 out of 5]

The content is accessible, and the author makes a strong anti-trust case about the companies (especially Google, Facebook, Amazon and Apple) in that their monopolistic grip of the market has trashed our environment, made a mockery of any remnant of our privacy, crushed competition, innovation, and disregarded most basic labor/employee rights – admirable, and an argument that I espouse to as well.

The overall argument suffers, however, because: the author repeats herself numerous times (the book could well have been half its volume); she blends in a feminist/#metoo rhetoric with the main argument (no, monopolists don’t discriminate, and don’t care whether you’re a male/female); and she takes an overly optimistic tone with regards to reining in monopolies’ outgrown influence/power (care to boycott by unplugging yourself from Google/FB/Amazon/Apple’s tentacles by ditching your I-phone, stopping to buy the essential food via amazon in the midst of a pandemic, desist from using gmail or the google search, and resist the temptation to link up with friends on an easily accessible platform? Easier said than done…) At the risk of sounding pessimistic, I don’t think joining a grassroot group or writing to my congressman (author’s suggestions) will make an iota of difference in reducing monopolies’ power.

My answer? If I had one, I’d write a book on the topic :/

[April Anderson · Rating 5 out of 5]

Monopolies Suck was a real eye-opener for me. Sally Hubbard is an expert on anti-trust laws, and this book helps us non-experts understand "7 Ways Big corporations Rule Your Life and How to Take Back Control". Big ag, big pharma, big medicine, and big tech call the shots. With little competition, choice, and regulation, costs go up and services go down. Profits are prioritized, not the consumer. Entrepreneurs don't have an equal playing field. I learned that we can fight back by electing people who will enforce anti-trust laws and not be bought by lobbyists. A better quality of life is possible if we act on the information in this book.

[J.J. Lair · Rating 4 out of 5]

I’m changing my ways on what I buy when I can. It’s not just monopolies, but when there are only two options left. You still don’t have options as a consumer. Want to know how the rules are changed to benefit the companies that are already winning? The things we just go along with because it’s easy, really make our options and lives difficult.
This can be dry reading with all the examples, but there is so much that you just don’t realize about the exploitation around you.

[Narendran Thangarajan · Rating 4 out of 5]

While reading Tim Wu's "The Curse of Bigness" I wanted to read a couple other books which were for and against the antitrust law to try to get a balanced picture of the conversation. I've made it deliberate that the 4/5 rating is not for the side of the debate, it is purely for the book's content.

The author makes excellent points in many parts of the book. I especially liked the places where she quoted the marginal cost of monopolies in wages, healthcare, and even poultry markets from various reports. But I did find quite a bit of over-attributing of societal issues to monopolies as well which diluted the content of the book. Also the second part of the book on taking back control was very small and mostly impractical & unconvincing to both common people and policy makers.

[Lucia · Rating 5 out of 5]

This book is a game changer. If you read one book all year read this.

I would suggest the whole thing but here are a few key highlights: I knew antitrust law had gone downhill, but I didn’t realize it was this dire. And I got to read the 1,200 page antitrust book in law school.

You do not need to read thick tomes of legalese to understand antitrust law, though. You have played Monopoly. You know that feeling you get when you realize your opponent has Boardwalk, Park Place and all the Greens? Yeah. You’re in trouble.

This was mind blowing for me: so many companies have merged that it’s hard not to buy from a conglomerate right now, even if you think you are by buying a different brand.

Your TAX dollars are paying for Walmart’s business model. In a pandemic, the price of nurse labor goes up as they’re more in demand, right? Only if the market is properly working. She explains why not. This isn’t just nurses. This is ALL industries. You are paid less right now because there’s less competition for you. And this hurts small businesses, the engine of our economy.

Lastly- I’ve been saying this and saying this! Your news algorithm is designed to amplify engagement, not actual quality public service news. This has to change.

[Nik · Rating 4 out of 5]

Tough one to rate. There are excellent chapters and moments of brilliance, and the overall mission Hubbard is going for is clear and admirable. But there's also a lot of fluff, arguments and connections that I feel are poorly made or thinly sourced (despite a really impressive number of sources), and a lot of places where the tangents seem to detract from the book's purpose.

[Mary Northrup · Rating 5 out of 5]

Monopolies and duopolies control just about every aspect of our lives -- food, healthcare, business, tech. Hubbard, an attorney and antitrust expert, explains how this happened, how bad it is for our lives, and what we can do about it. If you like nonfiction about contemporary issues, this one is important.

[Sam · Rating 3 out of 5]

Compact and well-research, though most of it is focused on how big tech sucks (and a bit about airlines). The quote from Thurgood Marshall was important, and I think I would have liked more legal history.

[Nate Campbell · Rating 4 out of 5]

Standard anti monopoly book, heavy on describing the concentration of many industries and discussion of antitrust policy. Pretty good, with some interesting insights.