E98: The Corruption of America's Food Industry: Austin Frerick Explains

In this interview, Austin Frerick , a Yale University fellow and expert in agriculture and antitrust policy, discusses his new book, 'Barron's Money, Power, and the Corruption of America's Food Industry.' Frerick , who has a background as a former tax economist at the U.S. Treasury Department and co-chair of the Biden campaign's Agriculture and Antitrust Policy Committee, delves into the consolidation within the food industry. He highlights the dominance of major corporations like Cargill, Cisco, and Walmart, and the detrimental impacts of their monopolistic practices. Frerick uses the narrative of seven different 'barons'—hog, grain, coffee, dairy, berry, slaughterhouse, and grocery—to explain the broader structural issues affecting America's food system. He emphasizes the need for returning to local, sustainable farming practices and critiques the influence of major companies in both policy and food production. Frerick also touches on topics like the illusion of choice in consumer markets, the offshoring of labor, the role of automation, and the urgent need for antitrust action to break up these monopolies.