Law professor and political activist Tim Wu is one of the country’s leading public intellectuals and is here to argue that the time has come to restore the primacy of antitrust. In his latest book, The Curse of Bigness: Antitrust in the New Gilded Age, Wu crisply lays out the history of antitrust law, showing how crucial it has been in shaping the economic life of the nation. We need to understand “bigness” as a problem, Wu argues, and aggressive antitrust law as the solution.
In 2008, the U.S. Treasury put Fannie and Freddie into a life-support state known as “conservatorship” to prevent their failure—and worldwide economic chaos. The two companies, which were always controversial, have become a battleground. Today, Fannie and Freddie are profitable again but still in conservatorship. Their profits are being redirected toward reducing the federal deficit,… more