Dominant firms use raw economic and political muscle to squeeze our economies and pocketbooks, in any sector you can think of: agriculture, digital technology, finance, manufacturing, media,pharmaceuticals, music, social care, publishing,sports, media,accounting, eyewear, dentists,veterinary services, funeral parlours, social care, military procurement and nuclear weapons (yes, really,) retail, and so on.
Monopoly power has become entrenched in all of our economies. There is a large, well-funded, elite, technocratic “competition establishment” that for decades has been cheerleading a long-running train of mergers and acquisitions, leading to ever more concentrated economic power.
At our recent event in Brussels we hosted Crispin Hunt, a former Chair of the UK’s Ivors Academy, which represents music creators. A successful songwriter himself, Hunt shocked the audience with this (at about 5.29):
“Twitter as a company has always been my sole issue and my biggest regret. It has been owned by Wall Street and the ad model. Taking it back from Wall Street is the correct first step.” – Founder Jack Dorsey