Earlier this week the Trump administration approved the $66 billion mega-merger of agribusiness giants Bayer and Monsanto. The deal consolidates 61 percent of global seeds and pesticides production in the hands of just three companies.
Monsanto alone owns the key genetic traits to more than 90 percent of the soybeans planted by farmers in the United States, and 80 percent of the corn. Bayer has a dominant foothold in cotton and canola seeds. This market dominance will allow the combined company to squeeze farmers even further.
Big Ag — along with the drug, insurance, tech, and financial giants — is coming to dominate both our economy and our politics. There’s only one answer: It is time to revive antitrust. Your thoughts?