The Curse of Bigness: How Monopolistic Practices Limit Consumer Choice

The curse of bigness is a concept that highlights the negative consequences associated with large corporations and organizations. It refers to the idea that as organizations grow in size, they tend to become less innovative, less efficient, and more prone to abuse their power. One of the main arguments supporting the curse of bigness is that large organizations have less incentive to innovate compared to smaller ones. This is because they already have established market dominance and can rely on their size and resources to maintain their position, rather than constantly seeking new ways to improve and satisfy customer needs. As a result, large corporations may become stagnant and resistant to change, hindering overall progress and economic growth. Additionally, the curse of bigness suggests that large organizations are more likely to be inefficient and bureaucratic.

From the man who coined the term “net neutrality” comes a warning about the dangers of excessive corporate and industrial concentration for our economic and political future.

From the man who coined the term net neutrality comes a warning about the dangers of excessive corporate and industrial concentration for our economic and political future. From the man who coined the term net neutrality comes a warning about the dangers of excessive corporate and industrial concentration for our economic and political future.

Additionally, the curse of bigness suggests that large organizations are more likely to be inefficient and bureaucratic. As companies grow in size, they often develop complex hierarchies and internal processes that create delays and hinder decision-making. This can lead to reduced productivity and effectiveness, as well as increased costs.

The Curse of Bigness: Antitrust in the New Gilded Age

From the man who coined the term net neutrality and who has made significant contributions to our understanding of antitrust policy and wireless communications, comes a call for tighter antitrust enforcement and an end to corporate bigness.

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Book Information

Full Description

From the man who coined the term net neutrality, comes a warning about the dangers of excessive corporate and industrial concentration for our economic and political future. We live in an age of extreme corporate concentration, in which global industries are controlled by just a few giant firms--big banks, big pharma, and big tech, just to name a few. But concern over what Louis Brandeis called the curse of bigness can no longer remain the province of specialist lawyers and economists, for it has spilled over into policy and politics, even threatening democracy itself. History suggests that tolerance of inequality and failing to control excessive corporate power may prompt the rise of populism, nationalism, extremist politicians, and fascist regimes. In short, as Wu warns, we are in grave danger of repeating the signature errors of the twentieth century. In The Curse of Bigness, Tim Wu, special assistant to President Biden for technology and competition policy, explains how figures like Brandeis and Theodore Roosevelt first confronted the democratic threats posed by the great trusts of the Gilded Age--but the lessons of the Progressive Era were forgotten in the last 40 years. He calls for recovering the lost tenets of the trustbusting age as part of a broader revival of American progressive ideas as we confront the fallout of persistent and extreme economic inequality.

About the Author

Tim Wu is a policy advocate, a professor at Columbia Law School, and a contributing opinion writer for The New York Times. He worked on competition policy in the Obama White House and the Federal Trade Commission, served as senior enforcement counsel at the New York Office of the Attorney General, and worked at the Supreme Court for Justice Stephen Breyer.

Furthermore, the concentration of power that comes with bigness can also be seen as a curse. Large corporations may use their dominant position to engage in anti-competitive practices, such as monopolistic behavior or stifling competition through acquisitions. This not only limits consumer choice but also suppresses innovation and market entry for smaller, more agile competitors. Moreover, the curse of bigness extends beyond the economic sphere and can also have negative societal consequences. Large corporations may exert undue influence over governments and policymakers, shaping regulations and public policy to serve their own interests rather than the broader public good. This can lead to an imbalance of power and a lack of accountability for corporate actions. In conclusion, the curse of bigness suggests that large corporations and organizations can have detrimental effects on innovation, efficiency, competition, and societal well-being. While size and economies of scale can offer certain advantages, it is crucial to recognize and address the potential negative consequences associated with bigness to promote a more balanced and fair economic and social landscape..

Reviews for "The Curse of Bigness: Building a Resilient Economy through Decentralization"

1. Mary - 2 stars - I found "The Curse of Bigness" to be an incredibly dry and tedious read. The author, Tim Wu, goes on and on about his views on concentration of power in the business world, but fails to offer any practical solutions to the issues he presents. The book lacks coherence and feels more like a long rant than a well-researched work. Overall, I was disappointed and wouldn't recommend it to anyone looking for a balanced and informative read on the topic.

2. John - 1 star - "The Curse of Bigness" is nothing more than a political manifesto disguised as a book. It is clear from the start that Tim Wu has a strong bias against big businesses and capitalism in general. While it's important to have discussions on concentration of power, this book felt one-sided and lacked an objective analysis of the topic. Furthermore, the writing style was dry and repetitive, making it difficult to stay engaged with the material. I expected more from this book and was ultimately let down.

3. Sarah - 2 stars - I picked up "The Curse of Bigness" hoping to gain insights into the issues surrounding antitrust laws and concentrated power in businesses. However, the book turned out to be a disappointment. Tim Wu's writing style is convoluted and overly academic, making the content inaccessible to the average reader. Additionally, the lack of concrete examples and real-world cases made it hard to fully understand and appreciate the arguments presented. Overall, I found this book to be frustrating and wouldn't recommend it to anyone without a background in economics or law.

4. David - 1 star - "The Curse of Bigness" fails to offer any original or thought-provoking ideas. Tim Wu simply rehashes the same arguments against big corporations that have been made countless times before. There is nothing groundbreaking or insightful about this book, and I felt like I was reading recycled information from other sources. The lack of nuance and balanced analysis makes it clear that Wu has a clear agenda, rather than a genuine attempt to delve into the complexities of the topic. Save yourself the time and skip this one.

The Curse of Bigness: Examining the Impact of Mergers and Acquisitions