Time for Teddy Roosevelt to return with his monopoly busting big stick?
A quick computation tells me that these ten companies that own just about
"everything I buy" actually represent just under 2 percent of my total
household expenditures. And there are half a dozen competing products for most
of the items shown. There may be some measure monopolistic power at work, but
please remember that in the US we get all these goodies for a much lower price
than in most of the world (I know from 22 years living around the world).
It's interesting to know the interconnections between products and
companies, but I don't find it disturbing . . . yet.
Methinks one old man needs some reeducation on what a monopoly is. A monopoly
is when one entity owns everything within an industry. But looking at that
graphic I see no less than 10 companies that own virtually everything within a
few industries (candy, snacks, toiletries, etc.). 10 companies - although they
do own a lot - are not a monopoly. They still compete with each other and they
don't collude to fix prices (as far as we know). Therefore, no monopoly.
As I look at the graphic my thought is "yeah, so"? Am I supposed to be
outraged? What response are they trying to elicit from me? Has absolutely zero
effect on my daily life. Now an interesting graphic would be how the Federal
Govt. is trying to monopolize the health care system.
i.e. unless a news story reinforces my already-held beliefs, I am
not interested in the slightest.Good boy!
Every single potato chip brand available in my local store is owned by Pepsico.
Pretty easy to price fix then I would assume.