The Rise of Corporate Power and the Fall of Trust in America
The manifesto found on Luigi Mangione, the man charged with killing UnitedHealthcare CEO Brian Thompson, reveals a striking insight into the growing frustration with corporate monopolies in America. While Mangione’s actions are undoubtedly shocking, his manifesto sheds light on a broader issue: the concentration of power in the hands of a few large corporations. The note doesn’t focus on specific healthcare grievances but instead highlights the immense size and influence of UnitedHealth Group, the parent company of UnitedHealthcare. It accuses the company of abusing its power for profit, a sentiment that resonates with many Americans who feel powerless against the dominance of giant corporations. The manifesto also includes a symbolic gesture: a backpack stuffed with Monopoly money, found in Central Park, which police believe belonged to Mangione. This act underscores the perception that corporate monopolies have become a game of unchecked power, where consumers and workers are left with no meaningful options.
The Consolidation of Power in Healthcare and Beyond
The trend of consolidation in corporate America, particularly in the healthcare sector, has reached alarming levels. UnitedHealth Group, for instance, has grown into a vertically integrated giant, controlling health insurance, medical services, pharmaceuticals, and healthcare data. The Government Accountability Office reports that just three companies dominate at least 80% of the health insurance market in most states. This level of consolidation is not unique to healthcare; it has become a defining feature of nearly every major industry in America, from technology and retail to agriculture. While companies often justify consolidation by citing economies of scale and lower costs, critics argue that this concentration of power comes at a steep cost to consumers, workers, and smaller businesses. UnitedHealth, for its part, claims that its size allows it to improve patient outcomes and reduce waste, but the broader trend of monopolization has raised concerns about declining quality, higher prices, and reduced innovation.
The Dark Side of Monopolization: Higher Prices, Lower Quality
The consequences of monopolization are profound and far-reaching. When a few corporations dominate a market, they often exploit their power to raise prices, reduce quality, and stifle competition. For example, farmers who rely on John Deere tractors are forced to use the company’s repair services, as they are not allowed to fix their own equipment. Similarly, Apple customers are discouraged from repairing their own devices, pushing them toward buying new products. In healthcare, studies have shown that patients in areas with limited hospital competition face significantly higher costs—approximately $1,900 more per patient, according to a study by Yale economist Zach Cooper. These practices demonstrate how monopolies can hold consumers captive, offering subpar products and services because there are no alternatives. As Marshall Steinbaum, an economist at the University of Utah, puts it, monopolistic companies “crank up prices, crank down quality, service, and wages, and consumers have nowhere else to turn.”
A History of Anti-Corporate Violence and Its Resurgence
America has a long and violent history of resistance to corporate power. In the late 19th and early 20th centuries, as industrial trusts consolidated entire industries, workers and citizens turned to violence in protest. For example, the 1877 railroad strike, sparked by wage cuts, left over 100 people dead. Similarly, the 1894 Pullman strike against the Pullman Co. resulted in dozens of deaths when the Illinois National Guard intervened. Even more dramatically, a 1920 bombing on Wall Street, targeting banker J.P. Morgan, killed over 30 people and injured hundreds. This anti-corporate violence subsided in the decades that followed, thanks to two key factors: government regulation and low prices. After the Great Depression, the New Deal and antitrust enforcement broke up monopolies, empowered labor unions, and created a prosperous middle class. For decades, Americans tolerated corporate consolidation as long as it delivered affordable goods and services.
Why Anti-Corporate Sentiment is Rising Again
But in recent years, this uneasy truce has begun to fray. As prices have risen and corporate dominance has grown, more Americans are realizing the downsides of monopolization. A Gallup poll found that 41% of U.S. adults have “very little” trust in big business, ranking it among the least-trusted institutions in the country. In rural areas of swing states, four out of five people agree that “corporate monopolies now run our entire economy.” Perhaps most strikingly, a recent poll found that 41% of young voters under 30 believe the killing of United Healthcare’s CEO was “acceptable” or “somewhat acceptable.” While this sentiment is shocking, it reflects a deeper sense of powerlessness and frustration. When people feel that the system is rigged against them and that they have no meaningful recourse, civility can begin to break down. As history has shown, this sense of powerlessness can lead to violence.
America at a Crossroads: The Future of Corporate Power
Today, America stands at a similar crossroads to the one it faced in the late 19th century. Trust in big business is eroding, and public satisfaction with the healthcare system is at a 24-year low. The question is whether the country will continue down the path of unchecked corporate consolidation or reverse course and rein in monopolistic power. In 1890, Senator John Sherman warned his colleagues that failing to break up monopolies would leave the country vulnerable to socialism, communism, and nihilism. Today, the stakes are just as high. If corporate power continues to grow unchecked, the consequences for democracy, fairness, and civil order could be severe. The killing of Brian Thompson is a tragic reminder of the dangers of unchecked corporate power and the need for systemic change. As America grapples with this issue, one thing is clear: the choices made now will shape the future of the economy, society, and the very fabric of the nation.
