For antitrust reformers, the size and power of companies like Google and Facebook represent more than a threat to consumer welfare.

“They are competitors to the democratic state itself,” Matt Stoller, director of research at the American Economic Liberties Project, says.

Stoller says reining in monopoly power is critical to maintaining democracy.

“We have political freedoms, but on the commercial side, there is massive amounts of bribery and corruption and retaliation that is against the idea of living in a free society.”

This view has champions now at the FTC and Justice Department. But it’s also promising a lot. Can vigorous antitrust regulation meaningfully reduce inequality, and bring about a stronger democracy?