Gerald F. Davis is the Wilbur K. Pierpont Collegiate Professor of Management at the Ross School of Business and professor of sociology at the University of Michigan. He is the author of Managed by the Markets (winner of the Academy of Management's George R. Terry Book Award) and the coauthor of Changing Your Company from the Inside Out, Social Movements and Organization Theory, and Organizations and Organizing. He also serves as the editor of Administrative Science Quarterly.

There is broad consensus across the political spectrum in the US that monopolistic corporations ¿ particularly Big Tech companies -- have grown too powerful, and that we need to revive antitrust to take on the 'curse of bigness.' But both the diagnosis and the cure are rooted in an outdated understanding of how the American economy is organized. Information and communication technologies have fundamentally altered the markets for capital, labor, supplies, and distribution in ways that undermine the basic categories we use to understand the economy. Nationality, industry, firm, size, employee, and other fundamental terms are increasingly detached from the operations of the economy. If we want to understand and tame the new sources of economic power, we need a new diagnosis and a new set of tools.

Introduction; 1. The digital transformation of business; 2. Rising monopoly power and a new Gilded Age?; 3. The problems with the monopoly narrative; 4. What is nationality now?; 5. What is industry now?; 6. What is size now?; 7. Every man an LLC? The hollow promise of entrepreneurship for all; 8. What next? Business models and power; References.