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Matt Stoller Profile picture
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21 Dec, 5 tweets, 2 min read
There's an enterprising career waiting for a business historian willing to debunk Hovenkamp's problematic historical work. He's just wrong that 19th century anti-monopoly policy was merely about gov't privilege. Ultra vires suits were the keystone.
Hovenkamp is a deeply influential pro-monopoly advocate, a sort of Diet Bork who spread a more annoying and difficult to administer version of Chicago School philosophy throughout the courts.
Here's our piece on Hovenkamp's disastrous philosophy and legacy.
Writing this tradition out of history is Hovenkamp's legacy.
Here's Hovenkamp on corporate break-ups.

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More from @matthewstoller

Matt Stoller Profile picture
20 Dec
1. WSJ picks up the pharmacy walk out story. wsj.com/articles/omicr…
2. I covered it last month, talking about @BledTanoe and #PizzaIsNotWorking mattstoller.substack.com/p/pizzaisnotwo…
3. A year and a half ago, I described how CVS became a health care tyrant. mattstoller.substack.com/p/how-cvs-beca…
Read 6 tweets
Matt Stoller Profile picture
20 Dec
1. Ok, let's talk about a different strategy for Biden and Dems, going all the way back to inauguration. Instead of seeing the election as a mandate to expand the safety with weird badly designed programs, what would a good agenda have been? Deal with Covid. What does that mean?
2. First, recognize it is an endemic disease, not a never-ending moral war no one actually believes in. Expand treatment so we can handle increased illness. How? Go after cheating in hospitals and health care. Here are dozens of GOP bills to do that. republicans-oversight.house.gov/report/comer-r…
3. The amount of waste and cheating in health care is insane - I mean nursing homes are run by near-mobsters. We're talking trillions. Highlight it. Investigate it. Attack it. Use CMS to block private equity from running hospitals, treatment centers, nursing homes, etc.
Read 10 tweets
Matt Stoller Profile picture
20 Dec
“Manchin has also told colleagues he believes that Americans would fraudulently use the proposed paid sick leave policy, specifically saying people would feign being sick and go on hunting trips.”
I have no idea if Manchin said this nor do I care, but this is definitely the best way to play hooky.
Why did Manchin vote no? Probably because (1) he can't explain the bill to his constituents (2) he is concerned about inflation and (3) Biden is weak.

Manchin's mostly ignored demand was for an end to quantitative easing. He's been clear that inflation is his concern.
Read 4 tweets
Matt Stoller Profile picture
11 Dec
The idea that venture capital tycoons who are deeply wired into D.C. are leading a revolution against the establishment is so tired and annoying. Just accept the responsibility for what it means to be powerful.
Hillary Clinton was offended when called her a member of the establishment, because saying you hate the establishment is a tried and true test of refusing to admit you have power and responsibility. @cdixon and the Andreessen crew share Hillary Clinton's politics.
There's a lot of good faith in the crypto world, but that there's no internal effort to get rid of the massive grifting going on by cynical financiers is a giant red flag.
Read 4 tweets
Matt Stoller Profile picture
23 Nov
1. One institutional problem of the Dems/left is what I'll call the Lollipop Problem. We've optimized our party to offer things people like, but we do so whether people prioritize those things or not. Let's do a thought experiment on Dems, using lollipops as a stand-in.
2. 10 years ago, some progressive economists at the Fed got data from candy makers showing candy makes people happy. Then progressives set up a coalition for lollipops, which poll well, and activists at the end of the Obama era began holding signs saying "Lollipops NOW!"
3. Then Trump won the Presidency. Stories in the New Yorker and the New York Times started to come out about how Trump corrupted and controlled the traditionally bipartisan US Candy Agency. "How dare he!?!?"
Read 17 tweets
Matt Stoller Profile picture
22 Nov
1. I wrote up the current odd state of antitrust politics, where DC's biggest lobbying group - the U.S. Chamber of Commerce - has declared open war against Lina Khan and the anti-monopoly movement. mattstoller.substack.com/p/big-business…
2. This is not hyperbole. “It feels to the business community that the FTC has gone to war against us, and we have to go to war back,” said Chamber President and CEO Suzanne Clark, in the Wall Street Journal. wsj.com/articles/ftc-k…
3. The Chamber will be suing the FTC at every step, filing Freedom of Information Act requests, and setting up a war room to tell horror stories about Khan and the government's attempt to address dominant firms. mattstoller.substack.com/p/big-business…
Read 22 tweets

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