In the July-August issue of Washington Monthly magazine, ILSR’s Stacy Mitchell reviews the new book Big Is Beautiful: Debunking the Myth of Small Business. The book is a defense of the monopolization of the U.S. economy, Stacy writes. It’s “designed to put our minds at ease” about the demise of small businesses by arguing that big business is superior.
Yet, Stacy argues, the book relies on cherry-picked data and misleading arguments. As she rebuts the authors’ claims, Stacy also mounts a vigorous counter-argument, explaining how U.S. economic policy has tilted the playing field in favor of bigness, but how small businesses perform critical functions that big businesses can’t.
“As small businesses disappear, we’re losing these distinct market benefits,” Stacy concludes, “and something much more valuable, too: a diverse economy that keeps concentrated power in check and ensures that citizens and communities have the ability to chart their own course.”