Showing posts with label Robber Barons. Show all posts
Showing posts with label Robber Barons. Show all posts

Saturday, 14 April 2018

Robber Barons: Control Too Strong to Resist

Where Are the Left’s Modern Muckrakers?

Victor Davis Hanson

Where Are the Left’s Modern Muckrakers?

By Victor Davis Hanson
 

High-tech corporations have acquired massive power and wealth, dwarfing the might of the robber barons of the past.

In the late 19th and early 20th centuries, there was an epic fight of so-called muckrakers — journalists and novelists such as Frank Norris, Upton Sinclair, Lincoln Steffens, and Ida Tarbell, along with trust-busting politicians like Teddy Roosevelt — against rail, steel, and oil monopolies. Whatever one thought of their sensationalism and often hard-left socialist agendas, they at least brought public attention to price fixing, product liabilities, monopolies, and the buying of politicians.

No such progressive zealotry exists today in Silicon Valley and its affiliated tech spin-offs. And the result is a Roman gladiatorial spectacle with no laws in the arena.

In the last two elections, Facebook has sold its user data to Democratic and, apparently more controversially, Republican campaign affiliates. Google, Twitter, and Facebook have often been accused of censoring users’ expression according to their own political tastes. Civil libertarians have accused social-media and Internet giants of violating rights of privacy, by monitoring the shopping, travel, eating, and entertainment habits of their customers to the extent that they know where and when Americans travel or communicate with one another.

Apple, Alphabet (Google), Amazon, Microsoft, and Facebook are the world’s five largest companies in terms of stock value. Together they have market capitalization of about 3 trillion dollars, about the net worth of the entire country of Switzerland.

Conspiracies Against Public Citizens

The  Perpetual Threat Of Robber Barons

We have often pointed out that businesses ought to be treated with perpetual scepticism.  Never trust a group of businessmen alone in a room together.  They will often quickly end up scheming how to control the market, create a de facto monopoly, and plunder their customers and the market in general.  This was Adam Smith's view--as so many on the right often forget.  

We are now seeing just such a conspiracy (whether formal or informal) to control the market and the economy for IT services, particularly consumer IT services.

We have a couple of articles to run on this theme.  The first is from James Delingpole.

Smash Big Tech’s Robber Baron Cartel Now!

James Delingpole
Breitbart News

The thing that puts me off libertarianism is the “more libertarian than thou” game so many libertarians like to play.  “What? You mean you don’t believe that enterprising heroin dealers should be free to ply their wares in kindergartens so as to catch ’em while they’re young? You’re not a real libertarian. You’re a fascist control freak…”

All right, I exaggerate. But the latest libertarian test is very real – and is the subject of a big falling out between two National Review writers Victor Davis Hanson and Kevin Williamson.  See where you stand.