Power of Story Send a Tweet        

Share on Google Plus Share on Twitter 1 Share on Facebook Share on LinkedIn Share on PInterest Share on Fark! Share on Reddit Share on StumbleUpon Tell A Friend (1 Shares)  

Printer Friendly Page Save As Favorite View Favorites (# of views)   2 comments
OpEdNews Op Eds

The Monopolization of America

By       Message Robert B. Reich       (Page 1 of 4 pages)     Permalink

Related Topic(s): ; ; ; ; , Add Tags  Add to My Group(s)

Must Read 2   Well Said 2   Supported 2  
View Ratings | Rate It

opednews.com Headlined to H2 5/7/18

Author 47089
Become a Fan
  (123 fans)

From Robert Reich Blog

- Advertisement -
The Biggest Economic Problem You're Hearing Almost Nothing About

Not long ago I visited some farmers in Missouri whose profits are disappearing. Why? 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. Which means Monsanto can charge farmers much higher prices.

Farmers are getting squeezed from the other side, too, because the food processors they sell their produce to are also consolidating into mega companies that have so much market power they can cut the prices they pay to farmers.

This doesn't mean lower food prices to you. It means more profits to the monopolists.

- Advertisement -

Monopolies All Around

America used to have antitrust laws that stopped corporations from monopolizing markets, and often broke up the biggest culprits. No longer. It's a hidden upward redistribution of money and power from the majority of Americans to corporate executives and wealthy shareholders.

You may think you have lots of choices, but take a closer look:

- Advertisement -

1. The four largest food companies control 82 percent of beef packing, 85 percent of soybean processing, 63 percent of pork packing, and 53 percent of chicken processing.

2. There are many brands of toothpaste, but 70 percent of all of it comes from just two companies.

3. You may think you have your choice of sunglasses, but they're almost all from one company: Luxottica -- which also owns nearly all the eyeglass retail outlets.

4. Practically every plastic hanger in America is now made by one company, Mainetti.

5. What brand of cat food should you buy? Looks like lots of brands but behind them are basically just two companies.

6. What about your pharmaceuticals? Yes, you can get low-cost generic versions. But drug companies are in effect paying the makers of generic drugs to delay cheaper versions. Such "pay for delay" agreements are illegal in other advanced economies, but antitrust enforcement hasn't laid a finger on them in America. They cost you and me an estimated $3.5 billion a year.

- Advertisement -

7. You think your health insurance will cover the costs? Health insurers are consolidating, too. Which is one reason your health insurance premiums, copayments, and deductibles are soaring.

8. You think you have a lot of options for booking discount airline tickets and hotels online? Think again. You have only two. Expedia merged with Orbitz, so that's one company. And then there's Priceline.

Next Page  1  |  2  |  3  |  4

 

- Advertisement -

Must Read 2   Well Said 2   Supported 2  
View Ratings | Rate It

opednews.com

Robert Reich, former U.S. Secretary of Labor and Professor of Public Policy at the University of California at Berkeley, has a new film, "Inequality for All," to be released September 27. He blogs at www.robertreich.org.

Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon Share Author on Social Media   Go To Commenting

The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
- Advertisement -

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The Republican's Big Lies About Jobs (And Why Obama Must Repudiate Them)

Paul Ryan Still Doesn't Get It

What Mitt Romney Really Represents

What to Do About Disloyal Corporations

The Gas Wars

The Minimum Wage, Guns, Healthcare, and the Meaning of a Decent Society

Comments Image Post Article Comment

These discussions are not moderated. We rely on users to police themselves, and flag inappropriate comments and behavior. In accordance with our Guidelines and Policies, we reserve the right to remove any post at any time for any reason, and will restrict access of registered users who repeatedly violate our terms.

  • OpEdNews welcomes lively, CIVIL discourse. Personal attacks and/or hate speech are not tolerated and may result in banning.
  • Comments should relate to the content above. Irrelevant, off-topic comments are a distraction, and will be removed.
  • By submitting this comment, you agree to all OpEdNews rules, guidelines and policies.
Connect with Facebook     Connect with Twitter            Register with Facebook     Register with Twitter

Comment:   

You can enter 2000 characters. To remove limit, please click here.

Please login or register. Afterwards, your comment will be published.
 
Username
Password

Forgot your password? Click here and we will send an email to the address you used when you registered.
First Name
Last Name

I am at least 16 years of age
(make sure username & password are filled in. Note that username must be an email address.)

2 people are discussing this page, with 2 comments  Post Comment


Phat Khat

Become a Fan
Author 94616

(Member since Jul 15, 2014), 4 fans, 346 comments


Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon


  New Content

Not just America. With the Monsanto-Bayer merger, Germany is getting its fingers in the pie. Pretty soon, it will be illegal to have heirloom produce in your own garden.

Submitted on Monday, May 7, 2018 at 4:24:41 PM

Author 0
Add New Comment
Share Comment
Reply To This   Recommend  (2+)
Help
 

Jack Flanders

Become a Fan
Author 8802

(Member since Nov 24, 2007), 11 fans, 2 quicklinks, 663 comments


Share on Google Plus Submit to Twitter Add this Page to Facebook! Share on LinkedIn Pin It! Add this Page to Fark! Submit to Reddit Submit to Stumble Upon


  New Content

Having one company manage multiple brands in a way that creates the illusion of competition is, in my opinion, consumer fraud. This is as prevalent in the media as it is in the other industries mentioned here.

Submitted on Tuesday, May 8, 2018 at 12:41:10 PM

Author 0
Add New Comment
Share Comment
Reply To This   Recommend  (0+)
Help
 

 
Want to post your own comment on this Article? Post Comment