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The auto industry is instructive, Lynn saying it "resembles the Hydra, the many-headed monster from Greek mythology." Like their heads relying on one body, the automakers "increasingly rely on a single common body of companies that supply the same components to all of them."
In today's hard times, they stand or fall together, governments facilitating consolidation and bailing out the majors, or in other words, socializing risks, privatizing profits, and doing it for other endangered sectors, Wall Street getting the most by far from a privatized central bank they own and US Treasury they control.
Lynn structures his book in three parts:
-- examples of monopolies and the fallout from unrestrained corporate dominance;
-- the effects on ordinary people; and
-- how it affects other systems - ones in place "to protect peaceful international relations, our knowledge of how to make the products and grow the foods we need, and our political institutions."
Combined, he reveals a neofeudalist system of vast size and power, dominating all major American and global industries, consolidating for greater strength, partnered with governments, operating ruthlessly, crushing competition, exploiting workers, and colluding for greater control, the public welfare be damned.
Without antitrust enforcement, monopoly options include:
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