Elizabeth Warren’s idea for a regulatory plan to break up monopolies like Amazon, Google, and Apple may sound radical to many, but it is not new. In the past, America witnessed the rise of megacorporations like John D. Rockefeller’s Standard Oil Corporation, but antitrust legislation was enacted to break it up. As a result, competition was restored in the marketplace, and capitalism was saved.
In light of Amazon’s search for a second headquarters, it has become clear just how much control tech giants can wield over the economy. With all the lobbying that already takes place in Washington, America does not need more special interest interfering with public policy. When candidates running for election are reluctant to consider full action against the technology monopolies, it is evident that these big businesses must be restrained, or we risk losing our competitive, free market. Thus, Senator Warren’s plan would work not only to restrain monopolies but also to protect our democracy.
* Christina Salas is a 10th Grade student. She is currently working as an intern at the Henry George School of Social Science.