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The Hidden History of Monopolies: How Big Business Destroyed the American Dream
“This is the most important, dynamic book on the cancers of monopoly by giant corporations written in our generation” (Ralph Nader, from the foreword). American monopolies dominate, control, and consume most of the energy of our entire economic system; they function the same as cancer does in a body, and, like cancer, they weaken our systems while threatening to crash the entire body economic. American monopolies have also seized massive political power and use it to maintain their obscene profits and CEO salaries while crushing small competitors. But Thom Hartmann, America’s #1 progressive radio host, shows we’ve broken the control of behemoths like these before, and we can do it again. Hartmann takes us from the birth of America as a revolt against monopoly (remember the Boston Tea Party?), to the largely successful efforts of both Presidents Theodore and Franklin Roosevelt and other like-minded leaders to restrain corporations’ monopolistic urges, to the massive changes in the rules of business starting during the “Reagan Revolution” that have brought us to the cancer stage of capitalism. He shows the damage monopolies have done to so many agriculture, healthcare, the media, and more. Individuals have taken a hit as the average American family pays a $5,000 a year “monopoly tax” in the form of higher prices for everything from pharmaceuticals to airfare to household goods and food. But Hartmann also describes commonsense, historically rooted measures we can take—such as revitalizing antitrust regulation, taxing great wealth, and getting money out of politics—to pry control of our country from the tentacles of the monopolists.</
192 pages, Kindle Edition
Published August 25, 2020
85 people are currently reading
379 people want to read
About the author
Thom Hartmann
91 books378 followersThomas Carl Hartmann is an American radio personality, author, businessman, and progressive political commentator. Hartmann has been hosting a nationally syndicated radio show, The Thom Hartmann Program, since 2003 and hosted a nightly television show, The Big Picture, between 2010 and 2017.
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Displaying 1 - 28 of 28 reviews
November 26, 2024
We study history so we can learn from it; so we won’t repeat the mistakes of the past and can remember forge a better path forward. But if we keep repeating the steps from the past and expect a different outcome, well that says something else!!
History of monopolies is laid out in this book in a straightforward, and perhaps even simple manner. But it is interesting that we can’t or won’t find a way to correct the mistakes of the past and often, it appears, that we do repeat the past and expect different outcomes.
This author makes some very interesting observations
I didn’t realize that the Great Depression was originally called the Republican Great Depression, until the 1950’s. This was because it had weakened small businesses and forced them to sell out to larger interests or to mortgage themselves to big players in distant cities.
The author then takes us through the developing thought process of economists at the time the resultant changes. In particular how it lead to destruction of local economies supporting local shops and eventually lead to merger and acquisition activity that continues even now. The benefit is not for the consumer. Such examples are the monopolies in agriculture, pharmaceutical, media, ….. moved by greed but under the guise of efficiencies, all in search of the almighty dollar.
Media of all sorts is used to spread the ideology.
These monopolies have election clout and both fund and elect those politicians that will promote and support legislation that services their ideologies, and pockets.
So much for keeping prices low and helping consumers as was the original pitch!
Political bribery by monopolistic interests is rampant and has been going on for years.
While this author seems to have a bent on who is to blame it is nonetheless an interesting explanation of the economy, to be taken with a grain of salt.
Now moving forward hopefully the politicians can recognize the changes necessary to benefit the global economic health and not just the pockets of a few.
A quick and recommended read for an understanding of how we arrived in the current economic climate.
History of monopolies is laid out in this book in a straightforward, and perhaps even simple manner. But it is interesting that we can’t or won’t find a way to correct the mistakes of the past and often, it appears, that we do repeat the past and expect different outcomes.
This author makes some very interesting observations
I didn’t realize that the Great Depression was originally called the Republican Great Depression, until the 1950’s. This was because it had weakened small businesses and forced them to sell out to larger interests or to mortgage themselves to big players in distant cities.
The author then takes us through the developing thought process of economists at the time the resultant changes. In particular how it lead to destruction of local economies supporting local shops and eventually lead to merger and acquisition activity that continues even now. The benefit is not for the consumer. Such examples are the monopolies in agriculture, pharmaceutical, media, ….. moved by greed but under the guise of efficiencies, all in search of the almighty dollar.
Media of all sorts is used to spread the ideology.
These monopolies have election clout and both fund and elect those politicians that will promote and support legislation that services their ideologies, and pockets.
So much for keeping prices low and helping consumers as was the original pitch!
Political bribery by monopolistic interests is rampant and has been going on for years.
While this author seems to have a bent on who is to blame it is nonetheless an interesting explanation of the economy, to be taken with a grain of salt.
Now moving forward hopefully the politicians can recognize the changes necessary to benefit the global economic health and not just the pockets of a few.
A quick and recommended read for an understanding of how we arrived in the current economic climate.
March 6, 2021
Excellent succinct introduction to the topic. I must have read 5 or so books on monopolies in the past couple of years. This and Zephyr Teachout's "Break 'Em Up" are the two I'd recommend for non-specialists, activists and others who want an accessible overview with lots of references to dive in deeper where you might want to.
I like how he links monopolism to economic inequality to fascist trends in America. And succinctly describes what has driven monopolism w/o going too far into the details of legal doctrines (Bork etc.), economic dogma.
Ralph Nader cals it "the most important, dynamic book - small as it is -- on the cancers of monopoly by giant corporations written in our generation." I think there are others (like Teachout) that come close to matching it, but it's certainly one of the most important for sure, and at just 148 pages, probably the one I'd recommend to anyone who wants to read just one book on the topic. In fact, I've sent three copies to friends so far...
I like how he links monopolism to economic inequality to fascist trends in America. And succinctly describes what has driven monopolism w/o going too far into the details of legal doctrines (Bork etc.), economic dogma.
Ralph Nader cals it "the most important, dynamic book - small as it is -- on the cancers of monopoly by giant corporations written in our generation." I think there are others (like Teachout) that come close to matching it, but it's certainly one of the most important for sure, and at just 148 pages, probably the one I'd recommend to anyone who wants to read just one book on the topic. In fact, I've sent three copies to friends so far...
October 6, 2023
Wow this was such a great read.. I have such a loathing for corporate America and i can tell this guy does too. He made it easy to understand legal and economic issues regarding monopolies for someone with little knowledge in the subjects, which is so amazing because it makes this information accessible to eveyday people. Now I’m more aware of how fights against monopolies are ingrained in American history and how antitrust and preemtion laws work. This makes me want to fight even harder against corporations because what they are doing is evil and appalling. Just like the author says, monopolies are a cancer strangling the biosphere and humankind right along with it.
April 7, 2022
My impression is that I was reading a book written by someone who doesn’t understand economics, but I know nothing about economics myself and so I’m not for sure where he’s veering off the road. He seemed to make a lot of valid points but his one-sided argumentation was untrustworthy at best. Mostly left with confusion…either from my own lack of knowledge or because Hartmann actually was playing both sides of the field. He argues for competition and local government as the main solution to monopolies yet he also seems to advocate for strong governmental interference in trade. Progressives are the underdog right now, according to Hartman interestingly enough, and he believes that Facebook and media platforms are discriminating give libertarianism the strongest voice in the culture. Would agree with him that most of the political system is corrupt and in the pocket of some interest group and that you should #buylocal when you can.
November 3, 2020
I thought that this was an interesting read. It was a short read but was filled with lots of research. However, it could have been better if the information was bulked up instead of feeling like the topics were being skimmed over. I also would have liked more of the information to be shown visually instead of percentages or other numerical values being tossed into paragraphs, which made it difficult for me to read and understand the material at times. Nonetheless, this was a very thought provoking read.
I would like to thank Berrett-Koehler Publishers for providing me with a copy.
I would like to thank Berrett-Koehler Publishers for providing me with a copy.
October 18, 2022
The content is too politically motivated by a democrats mind, some points are relevant, but not sure replacing monopoly by a government monopoly is what we need?
June 25, 2025
Rating: 4* of five
The Publisher Says: “This is the most important, dynamic book on the cancers of monopoly by giant corporations written in our generation.”—from the foreword by Ralph Nader
American monopolies dominate, control, and consume most of the energy of our entire economic system; they function the same as cancer does in a body, and, like cancer, they weaken our systems while threatening to crash the entire body economic. American monopolies have also seized massive political power and use it to maintain their obscene profits and CEO salaries while crushing small competitors.
But Thom Hartmann, America's #1 progressive radio host, shows we've broken the control of behemoths like these before, and we can do it again.
Hartmann takes us from the birth of America as a revolt against monopoly (remember the Boston Tea Party?), to the largely successful efforts of both Presidents Theodore and Franklin Roosevelt and other like-minded leaders to restrain corporations' monopolistic urges, to the massive changes in the rules of business starting during the “Reagan Revolution” that have brought us to the cancer stage of capitalism.
He shows the damage monopolies have done to so many industries: agriculture, healthcare, the media, and more. Individuals have taken a hit as well: the average American family pays a $5,000 a year “monopoly tax” in the form of higher prices for everything from pharmaceuticals to airfare to household goods and food. But Hartmann also describes commonsense, historically rooted measures we can take—such as revitalizing antitrust regulation, taxing great wealth, and getting money out of politics—to pry control of our country from the tentacles of the monopolists.
I RECEIVED A DRC FROM THE PUBLISHER VIA EDELWEISS+. THANK YOU.
My Review: More finger-pointing and right-wing-bashing than even I, for whom those activities are recreations I savor, found excessive. Nonetheless, as a way to get at the root of a problem not at all new, not uniquely American, and not quickly resolvable, this little ammo pile is good.
I think most of y'all know much of this history but quite likely haven't put it into this context before. That makes it a good, if tendentious (by design!), read for anyone who has a single qualm about greed.
I hope you'll try to get your head around why your wallet is always flat, why politicians say we can never "afford" things other countries have had for decades, and what to do about it.
The Publisher Says: “This is the most important, dynamic book on the cancers of monopoly by giant corporations written in our generation.”—from the foreword by Ralph Nader
American monopolies dominate, control, and consume most of the energy of our entire economic system; they function the same as cancer does in a body, and, like cancer, they weaken our systems while threatening to crash the entire body economic. American monopolies have also seized massive political power and use it to maintain their obscene profits and CEO salaries while crushing small competitors.
But Thom Hartmann, America's #1 progressive radio host, shows we've broken the control of behemoths like these before, and we can do it again.
Hartmann takes us from the birth of America as a revolt against monopoly (remember the Boston Tea Party?), to the largely successful efforts of both Presidents Theodore and Franklin Roosevelt and other like-minded leaders to restrain corporations' monopolistic urges, to the massive changes in the rules of business starting during the “Reagan Revolution” that have brought us to the cancer stage of capitalism.
He shows the damage monopolies have done to so many industries: agriculture, healthcare, the media, and more. Individuals have taken a hit as well: the average American family pays a $5,000 a year “monopoly tax” in the form of higher prices for everything from pharmaceuticals to airfare to household goods and food. But Hartmann also describes commonsense, historically rooted measures we can take—such as revitalizing antitrust regulation, taxing great wealth, and getting money out of politics—to pry control of our country from the tentacles of the monopolists.
I RECEIVED A DRC FROM THE PUBLISHER VIA EDELWEISS+. THANK YOU.
My Review: More finger-pointing and right-wing-bashing than even I, for whom those activities are recreations I savor, found excessive. Nonetheless, as a way to get at the root of a problem not at all new, not uniquely American, and not quickly resolvable, this little ammo pile is good.
I think most of y'all know much of this history but quite likely haven't put it into this context before. That makes it a good, if tendentious (by design!), read for anyone who has a single qualm about greed.
I hope you'll try to get your head around why your wallet is always flat, why politicians say we can never "afford" things other countries have had for decades, and what to do about it.
April 17, 2021
This is my second book in the Thom Hartmann, Hidden History of, series of books. Again, there is a lot of info in the little book. From the intro, Cancer and Monopoly and the killing of creativity and competition. To the founding of this country based on resistance to monopolies. Monopoly and fascism, the killing of the middle class, monopoly take over of our government thanks, to a corrupt Supreme Court. Robert Bork and his theory on monopoly which Republicans have swallowed hook, line, and sinker, and Reagan and his Reaganomics of trickle down, starve the beast, deregulate, and Reagan directives not to enforce existing anti monopoly laws. You'll learn about Lewis Powell and that all this started with Nixon. Exposed the Supreme Court decisions paving the path to the American oligopoly. The few corporations in each market that owns and controls the markets. Today something like 4 companies in each market control the markets. Media, telecommunication, farming, Healthcare, Insurance, all controlled by four companies each, destroying competition, wages, and small businesses. Much more in this book. A reading of value. Reminds me of a movie from the 70's, "Rollerball", where corporate power was everything and if you didn't yield to it's power you were finished. Also today's current events where the people are petitioning monopolies to pressure legislatures on voting restriction laws. If the people have to go to Coca Cola for the power to influence elected representative we are done as a democracy and are truly an oligarchy.
November 24, 2025
FDR: Fascism is when corporations seize the power of government.
The author raises the question of whether the economy is to serve the majority of the people or if the majority of the people are to serve the economy and answers that, since Reaganomics, it has been the latter.
In 1982, the Reagan government stopped enforcing anti-monopoly laws and the U.S. has run with this policy ever since.
Only the heavy hand of the government was reigned in monopolies previously, an action not likely to happen again in the near future, exacerbating wealth inequality.
Monopolies created rigid class systems and multigenerational debt, such as the fifty year mortgage proposed by #47.
“Bad news at the doorstep. I couldn’t take one more step.”
We are in short supply of trust busters.
Once more, not one public library in the state of Indiana has a copy.
The author raises the question of whether the economy is to serve the majority of the people or if the majority of the people are to serve the economy and answers that, since Reaganomics, it has been the latter.
In 1982, the Reagan government stopped enforcing anti-monopoly laws and the U.S. has run with this policy ever since.
Only the heavy hand of the government was reigned in monopolies previously, an action not likely to happen again in the near future, exacerbating wealth inequality.
Monopolies created rigid class systems and multigenerational debt, such as the fifty year mortgage proposed by #47.
“Bad news at the doorstep. I couldn’t take one more step.”
We are in short supply of trust busters.
Once more, not one public library in the state of Indiana has a copy.
December 18, 2025
4h 16m - Book 4 of 10 in the Hidden History series
Hartmann positions the fight against monopolies as a thread running through American history, starting with the Boston Tea Party (a revolt against the British East India Company's monopoly) and continuing through the eras of trust-busting Presidents like Theodore and Franklin D. Roosevelt.
The book contends that the shift in business rules, particularly since the Reagan era, has allowed American monopolies to flourish, seizing massive political power to maintain obscene profits and crush small competitors. He uses a potent analogy, likening monopolies to a “cancer" on the body economic, weakening the entire system.
---
## 📈 Key Highlights and Impact
* **Historical Context: The book offers a brisk historical overview, showing that America has successfully broken up corporate behemoths before, instilling a sense of possibility for change.
* **The "Monopoly Tax": Hartmann emphasizes the direct financial impact on individuals, estimating that the average American family pays a $5,000 a year "monopoly tax" in the form of inflated prices across various sectors (pharmaceuticals, airfare, food, etc.).
* **Sector-Specific Damage: The book details the damage monopolies have inflicted on crucial industries, including agriculture, healthcare, and the media, highlighting how corporate consolidation affects everyday life and informed citizenship.
* **Call to Action: Beyond the historical critique, Hartmann offers commonsense, historically rooted solutions. These include revitalizing antitrust regulation, implementing wealth taxes, and advocating for getting money out of politics.
Ultimately, The Hidden History of Monopolies serves as a powerful, timely critique of the contemporary corporate-dominated economy, prompting readers to engage with the ongoing national dialogue about corporate power and the viability of the American Dream.
Hartmann positions the fight against monopolies as a thread running through American history, starting with the Boston Tea Party (a revolt against the British East India Company's monopoly) and continuing through the eras of trust-busting Presidents like Theodore and Franklin D. Roosevelt.
The book contends that the shift in business rules, particularly since the Reagan era, has allowed American monopolies to flourish, seizing massive political power to maintain obscene profits and crush small competitors. He uses a potent analogy, likening monopolies to a “cancer" on the body economic, weakening the entire system.
---
## 📈 Key Highlights and Impact
* **Historical Context: The book offers a brisk historical overview, showing that America has successfully broken up corporate behemoths before, instilling a sense of possibility for change.
* **The "Monopoly Tax": Hartmann emphasizes the direct financial impact on individuals, estimating that the average American family pays a $5,000 a year "monopoly tax" in the form of inflated prices across various sectors (pharmaceuticals, airfare, food, etc.).
* **Sector-Specific Damage: The book details the damage monopolies have inflicted on crucial industries, including agriculture, healthcare, and the media, highlighting how corporate consolidation affects everyday life and informed citizenship.
* **Call to Action: Beyond the historical critique, Hartmann offers commonsense, historically rooted solutions. These include revitalizing antitrust regulation, implementing wealth taxes, and advocating for getting money out of politics.
Ultimately, The Hidden History of Monopolies serves as a powerful, timely critique of the contemporary corporate-dominated economy, prompting readers to engage with the ongoing national dialogue about corporate power and the viability of the American Dream.
This entire review has been hidden because of spoilers.
January 2, 2023
I cannot recommend Thom Hartmann's "Hidden History" series enough. They're so very though provoking, educational, and enlightening. I've read a few books in the series and I've said various times about them that while they give me such a new sense of understanding of how we got into the mess that we're in, they also enrage me because there's really no reason for us to be in the mess that we're in.
This book is another example of that. The United States COULD be a thriving nation, but it's not. The American Dream doesn't exist. It did, but it was killed by corporate greed and political agents. History shows us how to rebuild the economy. It's just a matter of people will learn from history or if the message of the neoliberals, Right Wing pundits/politicians, and their ilk will continue to be the loudest voice in the room.
This book is another example of that. The United States COULD be a thriving nation, but it's not. The American Dream doesn't exist. It did, but it was killed by corporate greed and political agents. History shows us how to rebuild the economy. It's just a matter of people will learn from history or if the message of the neoliberals, Right Wing pundits/politicians, and their ilk will continue to be the loudest voice in the room.
August 3, 2023
The Hidden History of Monopolies: How big business destroyed the American dream written by Thom Hartmann, forward by Ralph Nader, performed by Sean Pratt – How did big business obtain more rights than the average US citizen? How do corporate executives rake in millions of dollars in personal income, yet pay little to no taxes? What happened to the middle class? Did you know the average US family pays approximately $5,000 every year in inflated prices thanks to the power of monopolies? Hartmann addresses these and more issues as he examines monopolies and their rise to power in the United States. He compares previous administrations with more recent ones in regard to their allies and thus their political actions. This is an eye opener for those of us who thought the anti-trust laws we were taught in school are still being followed. A must for all adults to see both sides of the issue.
December 28, 2021
I found the book fascinating; most of the information was new to me. I was surprised to learn that the founding fathers had concerns about monopolies when writing the constitution. The details about the erosion of the protection against monopolies and the arguments used to narrow concerns were beyond anything I'd heard before.
January 11, 2023
Is there any way the US could be viewed as any more dispicable ? This is a super quick read on the momentous race to the bottom of screwing the American population. Since Reagan, the collapse of American ethics in bowing down to corporate interests has been rapid. We see how evil and short sighted right-wingers can possibly act.
Sad sad sad state of affairs in a country in steep decline.
Sad sad sad state of affairs in a country in steep decline.
February 8, 2023
Hartmann used plenty of finding Fathers and Presidential quotes to try and make his case. Lots of factual references as well. And then, he'll give the most incongruent and nonsensical opinion\take. It was tough to read and at every turn think "yep monopolies have done a lot of damage" only for Hartmann to essentially propose fighting fire with fire (monopoly with monopoly).
October 5, 2024
Insightful
Hartmann provides a detailed analysis of the negative impact of monopolies on our lives and how Robert Bork's economic prioritization of low prices and high profits, has caused unsustainable inequality and has been detrimental to our overall well-being. He makes a compelling case that we must return to a classic, pre-Reagan anti-trust strategy in order to recover.
Hartmann provides a detailed analysis of the negative impact of monopolies on our lives and how Robert Bork's economic prioritization of low prices and high profits, has caused unsustainable inequality and has been detrimental to our overall well-being. He makes a compelling case that we must return to a classic, pre-Reagan anti-trust strategy in order to recover.
November 17, 2020
an audio book, while I do data work.
It synthesized several trends into a single stream, which was helpful but without citations (and the print book may indeed have citations) it is not foundational.
It synthesized several trends into a single stream, which was helpful but without citations (and the print book may indeed have citations) it is not foundational.
May 14, 2022
If you want to understand why prices rise the way they do, consider: a) aftershocks of the coronavirus pandemic b) Russia’s invasion of Ukraine and c) the facts outlined in this book (and check out the solutions offered too!)
May 25, 2025
succinct, precise & expansive. this relatively short book punches far above its weight. hartmann has studied & researched, he has traveled widely & managed organizations. in his radio show & podcasts, he dominates his detractors with ease. this book is excellent.
July 29, 2025
excellent history book on monopolies but dated
All the arguments posed in the book are sound, backed by sources and data, but some are dated due to the year it was published. It would be fantastic to have an update in the era of T2.0.
All the arguments posed in the book are sound, backed by sources and data, but some are dated due to the year it was published. It would be fantastic to have an update in the era of T2.0.
April 3, 2021
More an outline than specific diagnosis and proposed solution (beyond take back the vote).
Read
February 5, 2022Eye opener
I to this day can't see why we names an aircraft carrier after ray gun . What a disappointment. Book was very informative
I to this day can't see why we names an aircraft carrier after ray gun . What a disappointment. Book was very informative
April 1, 2022
Not that I agree with every single point, but there sure are a hell of a lot of valid ones. I think a lot more people should read this. Could do some good. Recommended.
January 20, 2024
“Monopolies are bad. So we should make the government a monopoly. Yes, I am a raging democrat.”
I agree with the premise of this book, but… no, just no.
I agree with the premise of this book, but… no, just no.
August 5, 2025
forecast for a better world
The author reveals our real problems in this country. The future will determine if freedom can return. Money corrupts universally.
The author reveals our real problems in this country. The future will determine if freedom can return. Money corrupts universally.
December 28, 2025
I never knew that colleges have lobbyists to increase tuition. This is just wrong.
January 12, 2026
Anything and everything by Thom is brilliant. He is smartest person I have ever met (met him in 2019).
June 20, 2025
This book was released in 2024
I started reading it on June 8th, 2025
The connection between the California Wildfires and monopolies on utilities-surprising!
I started reading it on June 8th, 2025
The connection between the California Wildfires and monopolies on utilities-surprising!
Displaying 1 - 28 of 28 reviews