The esteemed Columbia Law professor who coined the term 'net neutrality' has urged the government to dissolve Facebook, Google, Amazon before they take over the entire economy.

Tim Wu says that the tech giants are faced with little competition and are acquiring more and more companies.

He says that the only way to control them is to sue them for breaking antitrust laws in a bid to create fairer competition. Antitrust laws regulate the conduct of business corporations to keep them honest and fair and end monopolies.

Tech giants like Facebook, Amazon and Google influence nearly every sphere of our daily lives from our politics to privacy and are only getting more powerful as they buy more assets and competitors are forced out.

Wu says Facebook should be the first to go as the social network has become enormous and shrouded in privacy scandals.

Columbia Law professor Tim Wu says it's time to dissolve Facebook, Amazon and Google before they control the entire economy and it can only be done with a lawsuit invoking antitrust laws. Wu pictured left, Facebok founder Mark Zuckerberg pictured right

Facebook faces no serious competition, fields a humongous amount of private data, deals with advertisers in an undisciplined fashion, has warped politics and has become a place where extremists gather, Wu says.

The Justice Department of the Federal Trade Commission or state could claim that Facebook's acquisitions of WhatsApp in 2014 and Instagram in 2012 were illegal and were anti-competitive mergers.

He reveals in his book The Curse of Bigness which is out next week that the only way to control the growth and expansion of Facebook, Amazon and Google is with a antitrust lawsuit

The lawsuit would have to ask for the court to break up the social network or dissolve it, he says in his book The Curse of Bigness, which is out next week.

Wu wants the U.S. to invoke its antitrust law with Zuckerberg's network. Antitrust laws have been used on IBM, AT&T and Microsoft in the past.

'Facebook is the most concerning. I would break up Facebook — the social harm is clear, and the benefits of Facebook staying as one entity aren’t really clear,' he said to Vox.

'They're too big to fail, it's too big to be tolerated,' he added.

He said lawmakers and regulators made a mistake when they let Facebook buy out Instagram - but with the boom in Silicon Valley and the fact that the social networks don't charge for their products, they had no idea what the purchase really meant.

'I was in the government [at the time], I share in some of the blame. I think that there was a kind of deferential attitude toward Silicon Valley at the time, you know, they were the golden goose. They had reinvented economics, reinvented business as we knew it,' Wu said.

'When Facebook bought Instagram, nobody really said, "Oh, they’re just buying out their biggest competitor" — and it’s illegal to buy your most dangerous competitors. People were like, "Oh, they don’t charge any money, we don’t really understand how this works,"' he added.

What is an antitrust law Antitrust laws are a set of federal and state regulations meant to assure companies operate honestly and fairly They seek to level the playing field and prevent businesses from having too much power Some antitrust law cases included IBM, Microsoft and AT&T

In the mid 1960s IBM was sued for breaking antitrust laws and monopolizing the computer market

The lawsuit dragged for 13 years and came to no verdict, but the pressure on the company allowed competition like Apple and Microsoft to rise

In 2001 Microsoft was accused of holding a monopoly on Intel-based computers. They were ordered to break into two units, one for operating system the other for software

In 1974 AT&T was sued for monopolizing the telecommunications market. Seven years later it was ordered to be broken into seven different companies responsible for different regions of the country Advertisement

Then when Facebook purchased WhatsApp for a whopping $19billion, it became clear the social network was buying out advertising competition. Wu says WhatsApp and Facebook were chasing the same advertisers and having a monopoly profit would benefit Zuckerberg's company in the end.

He said that regulators and the public should be wary of Amazon and Google next.

'There’s been a little chatter about Amazon coming into the ad game too, and taking a piece of that pie, and Google is also dependent on Amazon Web Services for a lot of things. To me it seems like they’re going to eat everybody. Like, they should be scariest,' he said.

'When it comes to Amazon and Google, it’s a question of, "What won’t they do? What won’t they try to take on?"...Do you really want an economy where you have a small handful of firms, maybe even two firms, running everything?' he added.

He said General Motors is an example of an example of a giant company that once ran everything, until it lost out to competition from Japan.

Wu says breaking up the popular company could improve privacy in Facebook's case as well. He says two founders of Facebook recently parted with the tech giant upset about Facebook's privacy practices.

The way to break up these giants is with an antitrust case led by the Justice Department, the Federal Trade Commission or a state. Wu warns that Facebook should be tackled first then Jeff Bezos' company Amazon. Bezos pictured above

Wu said: 'When it comes to Amazon and Google, it’s a question of, "What won’t they do? What won’t they try to take on?"...Do you really want an economy run by two firms?'

He warns the nation should heed its lessons from the past as the U.S. goes through its second 'Gilded Age', adding 'it's time to 'control economic structure before it controls us'.

'I’m afraid we’re going to end up with [just] Google and Amazon, if we let them stick around for 40 years; if we don’t stir the pot the way we stirred it with IBM, I think we will pay for it,' he said.

The IBM antitrust case stretch on for 13 years under the Reagan administration and in the end didn't get a verdict, but it cast pressure on the company that boasted the dominant market share in the mid 1960s.

Wu says without that IBM lawsuit, competition like Apple and Microsoft wouldn't have been able to rise.

And it's not just tech giants that need to be broken up. Wu says that the pharmaceutical industry, cable television, beer, and the fertilizer industries also need to be broken up too.