Tomorrow, July 13, I'm doing a benefit appearance at the Project Abraham Book Club to help raise funds for Yazidi refugees in Canada. We'll be talking about my book RADICALIZED.
The Sacklers engaged in an intergenerational, half-century program of drug-pushing; starting by creating the market for benzos and culminating in creating the opioid epidemic. They made a vast fortune off the misery they created and today they're richer than the Rockefellers.
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The family drug company, Purdue Pharma, created the addictive, destructive opioid Oxycontin, then systematically lied to the public about its safety, while bribing doctors and pharma distributors to overprescribe it, leading to over 850,000 US opioid deaths.
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The family used philanthropy to ensure its name was associated with galleries and museums rather than mass murder and had their lawyers threaten their critics (like me) and when that stopped working, they stashed billions offshore.
This week on my podcast, I read my latest @locusmag column, "Tech Monopolies and the Insufficient Necessity of Interoperability." It presents a theory of change to get us to a world of aggressive, trans-industry, global trustbusting.
Most industries are monopolized. Whether we're talking about athletic shoes or pharmacy benefit managers, the path to monopolization is the same: companies buy up small competitors, merge with major ones, and use their investors' cash to subsidize anticompetitive attacks.
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The reason they're able to get away with it is that for 40 years, the world's been in the grip of a dangerous economic delusion: that the only basis for fighting monopolies is "consumer welfare." That is, monopolies should only be considered harmful if they make prices go up.
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