We have written earlier (for example our article The Monopolization of America) about the increasing concentration of market power In the hands of just a few corporations. This is a phenomenon occurring throughout the US economy (really more broadly across the globe). Here is an 11 minute review of the history and current state of monopolies in our economy.
Roosevelt’s 1944 State of the Union called for a second bill of rights, an economic bill of rights, that resonates loudly today. —>> read more –>>
A key part of the description of capitalism in orthodox (neoclassical) economics, and our political rhetoric, is the role competition between companies plays in keeping the automatic self-regulation of markets humming for the most efficient and effective production at optimal prices. Competition is also regularly touted as a great driver —>> read more –>>
Corporate concentration of income and wealth are core features of capitalism. From its earliest cheerleaders like Adam Smith, the drive for corporations to get ever larger and in the doing drive their competitors out of the market was noted and warned against. John Oliver provides a thorough and amusing introduction. —>> read more –>>
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Thanks for putting all these resources together so I can think about the monopolization of our world & it’s effects on everyone.