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“He argues that corporate concentration ultimately leads to an equivalent on the government side, which is fascism. In Germany before World War II, there was massive corporate concentration, much more than in any other country. Big corporates needed a well-organized country, not the chaos of the Weimer Republic and hyperinflation. They needed a partner and that was Hitler. The same thing happened in Italy and Japan. Corporates have massive power, and they want the same power concentration in the government. Effectively, he says, corporate concentration leads to the destruction of democracy and he’s afraid that the same thing will happen in the US. America did not have fascism before, because we had antitrust, but at some point, Apple and Google will say, ‘Look at this stupid democracy, we need somebody to run the country properly.’” Read more...
The best books on Market Concentration
Jan Loeys, Economist
