From internet giants Facebook, Amazon and Google to telecom titans AT&T, Verizon and Comcast, American capitalism is increasingly dominated by huge and politically well-connected business behemoths.
We look at the case for reform, including stronger anti-trust regulations, innovative use of the Interstate Commerce Clause, better pay for government regulators, and reform of the tax code.
Our guest, finance professor, Luigi Zingales of the University of Chicago Booth School of Business, makes a crucial distinction between free markets and big business. Luigi is the author of two widely reviewed books: "Saving Capitalism from Capitalists (coauthored with Raghuram Rajan) and "A Capitalism for the People: Recapturing the Lost Genius of American Prosperity." He is also the co-host of the popular podcast, "Capitalisnt."
In this episode of "How Do We Fix It?" Luigi presents arguments to reduce the power of crony capitalism and restore competition at all levels as an engine for economic growth and fairness.