And this is why we have anti trust legislation. Maybe it’s time to start enforcing it again.
“Two corporations control 90 percent of the beer Americans drink.
Five banks control about half of the nation’s banking assets.
Many states have health insurance markets where the top two insurers have an 80 percent to 90 percent market share. For example, in Alabama one company, Blue Cross Blue Shield, has an 84 percent market share and in Hawaii it has 65 percent market share.
When it comes to high-speed Internet access, almost all markets are local monopolies; over 75 percent of households have no choice with only one provider.
Four players control the entire U.S. beef market and have carved up the country.
After two mergers this year, three companies will control 70 percent of the world’s pesticide market and 80 percent of the U.S. corn-seed market.”
We need a revolution to cast off monopolies and restore entrepreneurial freedom. First of two excerpts from “The Myth of Capitalism.”