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this post was submitted on 27 Jun 2024
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Did somebody say trust busting?
Please Eli5 trust busting
Here's an old political cartoon trying to explain it, but if you would rather read.
https://www.ushistory.org/us/43b.asp
Not quite the same topic, but certainly related, Hidden history of corporations in the U.S.
You know how corporations acquire other corporations and the government dramatically reviews it for a period of time and then allows it? Trust busting is like that, but in reverse. We just need to do the opposite of what we do now. Instead of watching corporations acquire each other and get bigger, we should be busting them apart into separate entities.
Specifically, it’s supposed to prevent business agreements and practices that are intended to hinder the ability of others to be competitive or do their own business. IOW, it prevents monopolies and industry consolidation.
Here are a few examples of why robust anti-trust laws are needed, and need to be enforced:
Everything Walmart has ever done.
Everything Amazon has ever done.
ISPs preventing competitors from moving into their territory so they can keep prices artificially high and quality of service low.
Everything Microsoft has ever done with Windows and what they’re currently trying to do with their gaming division.
The way Apple operates their App Store.
Everything Nestle has ever done.
Everything Google has been doing.
I mean just look at the state of the corporate world. We got here by an endless string of unhindered massive acquisitions and undercutting competitors. Now prices go up and quality of goods go down because no one can compete, and your “choice”, when there is a choice at all, is between 2 or 3 shitty products created by corporations that operate with the exact same min-max business model.
A monopoly is also called a trust and to quote Wiki: "antitrust law is a collection of mostly federal laws that regulate the conduct and organization of businesses in order to promote competition and prevent unjustified monopolies."
Trust busting means breaking up corporate monopoly or oligopoly.