The Hidden History of Monopolies

INTRODUCTION

Cancer and Monopoly

Cell phone service that costs $15 a month in France or $12 a month in Australia bills out at an average of $61.85 per month in the United States. High-speed broadband that’s a bit over $31 a month in France or $36 in Germany (for higher speeds and better reliability than almost anywhere in the United States) averages nearly $70 per month in the US. Similar metrics are found with pharmaceuticals, airfares, and medical costs, among dozens of other product and service categories.¹

Why is this? Monopoly.

The average American family pays an annual “monopoly tax”—in additional costs for pretty much everything—of around $5,000, according to economist Thomas Philippon. And things are steadily getting worse as monopolistic ...