The Curse of Bigness

Antitrust in the New Gilded Age

"The Curse of Bigness" (2018) explores urgent questions and issues of our era. Why have a few corporate behemoths come to dominate the market? What steps can we take to counter this trend? The book delves into market monopolization's political, economic, and legal narratives. It highlights the risks associated with such concentration and suggests strategies to lessen their impact.

About the author

Tim Wu is a professor at Columbia Law School and has held significant positions, such as senior advisor to the US Federal Trade Commission and senior enforcement counsel at the New York Office of the Attorney General. He also served on the National Economic Council during the Obama administration. A vocal advocate for policy, Wu is renowned for introducing the term "network neutrality" in his 2003 paper, “Network Neutrality, Broadband Discrimination.” His other works include "The Master Switch" and "The Attention Merchants."

Discover the dynamics and dilemmas of economic concentration

In recent years, many industrialized countries have seen the resurgence of an old economic challenge—economic concentration. This phenomenon occurs when fewer companies increasingly dominate industries, expanding until only a few corporate titans hold sway.

Presently, tech giants like Amazon, Facebook, and Google are the most visible examples of this issue, but they represent just the beginning. For instance, in the United States, over 75 percent of industries have experienced growing concentration since 2000.

This summary explores the historical emergence of this problem in the late nineteenth century, its decline in the mid-twentieth century, and its recent resurgence. It examines the economic, political, and legal backgrounds, the troubling effects of market monopolization, and potential corrective measures.

You'll gain insights into:

- the unexpected reasons some support monopolies;

- strong arguments for breaking up monopolies; and

- key figures and movements that have shaped these discussions.