A PYMNTS Company

‘Big Bad Trusts’ Are a Progressive Myth

 |  October 3, 2019

By Phil Gramm and Jerry Ellig, Wall Street Journal

The resurgence of progressivism in America has brought growing support for a return to Progressive-era trustbusting. Sen. Elizabeth Warren has a plan to break up tech companies like Google, Amazon and Facebook. Berkeley professor Robert Reich, once the resident progressive of the Clinton administration, opines, “Like the robber barons of the first Gilded Age, those of the second”—the tech giants—“have amassed fortunes because of their monopolies.” Even in Amazon’s hometown of Seattle, a newspaper headline declares, “Big tech needs to face a Theodore Roosevelt-style trust busting.”

Continue Reading…