By K. Sabeel Rahman Source: Boston Review Posted in: Corporations, Economy, Politics/Gov., US | No comments It was an eventful—and deci...
- antitrust; public/private divide
- Most Recent Tweet View All Tweets
- Most Recent Blog Mention
- Most Recent News Mention
A growing literature connects increased market concentration with the stark economic and political inequality citizens face today. What, ...
The goal of this Article is to create a way of seeing how market structure is innately political. It provides a taxonomy of ways in which large companies frequently exercise powers that possess the character of governance. Broadly, these exercises of power map onto three bodies of activity we generally assign to government: to set policy, to regulate markets, and to tax. We add a fourth category — which we call "dominance," after Brandeis — as a kind of catchall describing the other political impacts. The activities we outline will not always fit neatly into these categories, nor do all companies engage in all of these levels of power — that is not the point. The point is that Bank of America and Exxon govern our lives in a way that, say, the local ice cream store in your hometown does not. Explicitly understanding the power these companies wield as a form of political power expands the range of legal tools we should consider when setting policy around them.