Democrats need to become anti-monopolists again
By Justin Stofferahn
Inflation has skyrocketed, real wages are declining for many people, and baby formula is nowhere to be found. With polling consistently finding rising prices as the top concern of voters, these interlocking economic crises are likely to have a major impact on November’s elections, with a bleak outlook for Democrats currently.
It would seem obvious then that party leaders would attack the root cause of price hikes and our fragile supply chains — the corporate monopolies that are increasingly dominating American life. Unfortunately, the antimonopoly spirit that once animated Minnesota populists is still struggling to re-emerge.
The Minnesota DFL recently held its state convention in Rochester, and amidst the candidate endorsements and speeches, party leaders had the opportunity to make changes to the DFL’s ongoing platform and approve its 2022 “Action Agenda.” While these documents are mostly symbolic, they serve as an important gauge for what thought leaders and party activists are considering and have passion and energy for, with battles over pipelines and mining serving as a couple of examples.
Yet despite finding ourselves in a Second Gilded Age — with rampant corporate concentration and record mergers — neither the Action Agenda nor the party platform make any mention of monopoly power. This is particularly striking given Sen. Amy Klobuchar’s leading role in shaping antitrust reforms in Congress that would help reign in Big Tech.
Read more: https://www.penncapital-star.com/commentary/democrats-need-to-become-antimonopolists-again-opinion/
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