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Today, the Justice Department’s case against Google goes to trial. The Department alleges that Google illegally abused its power over online search to throttle competition. It is the government’s first monopoly trial of the modern internet era.

Later this month, the Federal Trade Commission (FTC) will file its lawsuit against Amazon, alleging that Amazon favors its own products over competitors’ on its platforms and uses predatory tactics with outside sellers on Amazon.com. 

Whether it’s Ticketmaster and Live Nation consolidating control over live performances, Kroger and Albertsons dominating the grocery market, or Amazon and Google scooping up every operation in sight, corporate concentration is on the rise.

Over the past several decades, giant corporations have come to dominate most American industries, as this chart shows:

The social costs of corporate concentration are growing.

— The typical American household is paying more than $5,000 a year because corporations can raise their prices without fear that competitors will draw away consumers.

— Such corporate market power has also been a major force driving inflation.

— Huge corporations also suppress wages, because workers have fewer employers from whom to get better jobs.

— And corporate giants are also fueling massive flows of big money into […]