Goliath: The 100-Year War Between Monopoly Power and Democracy

A New History of Monopoly Power

In Goliath, Tom Gauld tells the story of the 100-year war between monopoly power and democracy. He shows how a small group of wealthy individuals and corporations have used their power to rig the system in their favor, and how this has led to a decline in economic opportunity, political power, and social mobility.

The Rise of Monopoly Power

The rise of monopoly power in the United States can be traced back to the late 19th century, when a wave of industrialization and consolidation led to the creation of large, powerful corporations. These corporations quickly came to dominate their respective industries, and they used their power to crush competition, drive down wages, and increase prices.

The Fight for Democracy

In the early 20th century, a growing movement of progressives began to challenge the power of monopoly corporations. These progressives believed that the concentration of economic power in the hands of a few individuals was a threat to democracy, and they fought for policies to break up monopolies and promote competition.

The New Deal and the Great Depression

The Great Depression of the 1930s was a major turning point in the fight against monopoly power. The Depression showed that the unregulated market economy was not working for the majority of Americans, and it led to a renewed push for government intervention in the economy.

The New Deal, a series of economic policies enacted by President Franklin D. Roosevelt, was a major victory for the progressive movement. The New Deal included a number of measures to break up monopolies, promote competition, and protect workers' rights.

The Postwar Boom and the Rise of Neoliberalism

The postwar boom of the 1950s and 1960s was a period of unprecedented economic growth in the United States. This growth was fueled by a number of factors, including the rise of the suburbs, the expansion of the middle class, and the growth of the military-industrial complex.

However, the postwar boom also saw the rise of a new economic ideology called neoliberalism. Neoliberalism is based on the belief that the free market is the best way to achieve economic growth, and it advocates for policies that reduce government regulation and promote competition.

The Decline of Democracy and the Rise of Inequality

The rise of neoliberalism has led to a decline in democracy and a rise in inequality. The deregulation of the economy has allowed corporations to become more powerful than ever before, and they have used their power to influence government policy in their favor.

This has led to a decline in the power of ordinary citizens, and it has made it more difficult for people to hold corporations accountable for their actions.

The Future of Democracy

The future of democracy is at stake in the fight against monopoly power. If we do not take action to break up monopolies and promote competition, we will continue to see a decline in democracy and a rise in inequality.

We need to build a new economy that is based on democracy, not monopoly power. We need to create an economy that works for everyone, not just the wealthy few.

Conclusion

Goliath is a powerful and important book that tells the story of the 100-year war between monopoly power and democracy. Gauld shows how monopoly power has undermined democracy and led to a decline in economic opportunity, political power, and social mobility.

This book is a must-read for anyone who cares about the future of democracy. It is a call to action for all of us to fight for a more just and equitable economy.