A way that monopolies affect us is in terms of inequality. You know, there’s this huge discussion in the last few months about surging inequality in our society. Back in the origins of anti-monopoly law in America, the people who wrote those laws, what they aimed at was inequality because they saw monopolists as using their power to grab all of the opportunity and all of the wealth in a particular human activity, and not leave anything over for other people. A generation ago, tens of thousands of families in America were in the business of selling groceries. Now, there are just a few companies that sell groceries in America. Like Walmart, for instance. So inequality, inequality of wealth, inequality of political power, these are other problems that derive from monopolies.
Posted on: Sat, 16 Aug 2014 22:20:27 +0000
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