Home » News » Monopolies are shrinking the competition in the American economy. He told Congress how to fix it.
Monopolies are shrinking the competition in the American economy. He told Congress how to fix it.
John Kwoka understood what was wrong with the American economy, and he was prepared to offer solutions. But knowing and persuading are two different things, especially when you are being called to testify before the U.S. Senate.
Could he tell his story in a way that might break through the partisanship and polarization of Washington?
Kwoka, the Neal F. Finnegan Distinguished Professor of Economics at Northeastern, has pieced together a powerful story of a depressing trend. Over the last two decades, the number of major airlines has shrunk from seven to four. In that same time, the eight big accounting firms have been consolidated down to four. Where there used to be eight or nine rivals in the car-rental business, there are now only three. There are two surviving pharmacy chains, two dominant mattress manufacturers, two colossal brewers.