Just finished listening to Matt Stoller's Goliath, a political and intellectual history of the anti-monopoly movement over the last ~100 years. It gave me a better understanding of the intellectual history of 20th Century anti-monopoly thinking.

In particular, Stoller draws a distinction I hadn't thought very much about previously: between liberals who favor leaving monopolies in place and regulating them strictly vs. those who oppose bigness as such.

As Stoller tells it, New Dealers erected a complicated legal system designed to tilt the playing field in favor of small companies.

For example, there were laws against discounting to prevent big retailers from using their market power to win lower prices from suppliers and undercutting small retailers. A law capped deposit interest rates to prevent big banks from outbidding small banks for deposits.

Stoller situates Teddy Roosevelt, JK Galbraith, and Ralph Nader in the camp of liberals who (mostly) favored regulating monopolies instead of breaking them up. Also Bill Clinton, Barack Obama, and most modern Democratic leaders.