For much of the 20th century, regulators empowered by landmark legislation like the Sherman Antitrust Act of 1890 struck real trepidation into the hearts of corporate would-be consolidators who used their market position to crush competition and take advantage of consumers.
Even juggernauts like the monopolistic Bell System could not outmaneuver the regulators, who broke up the company in 1983 in what was then decried as an overboard measure but is now widely viewed as a necessary intervention that laid the groundwork for the modern tech industry.
Now, increasingly dominant tech companies often treat antitrust as an afterthought. That’s been painfully demonstrated by the Taylor Swift Ticketmaster debacle earlier this month, and it’s a good thing that the wrath of her ardent fan base has triggered the scrutiny of the Senate antitrust subcommittee.
