We’re entering the 2020s and it’s fitting that we’re in the Second Golden Age. Or at least that’s what Robert Reich argues.
It is time to use antitrust again. We should break up the hi-tech behemoths, or at least require they make their proprietary technology and data publicly available and share their platforms with smaller competitors.
There would be little cost to the economy, since these giant firms rely on innovation rather than economies of scale – and, as noted, they’re likely to be impeding innovation overall…Republicans rhapsodize about the “free market” but have no qualms about allowing big corporations to rig it at the expense of average people.
If we’re in the Second Golden Age now, I wonder if we’ll enter a Second Depression in the 2030s? As the saying goes, the rich get richer and the poor get poorer.
Check It Out: Welcome to the Second Golden Age