Robert Reich wants you to know about the biggest economic problem you’ve heard almost nothing about—the Monopolization of America—and how it affects what you pay for food and other consumer products.
In his latest video on Facebook, released Sunday and already seen by more than 500,000 viewers, Reich says America’s monopoly problem stems from the “hidden upward redistribution of money and power from the majority of Americans to corporate executives and wealthy shareholders.”
The only way to fix it? Revive antitrust enforcement.
Reich recently visited with Missouri farmers, whose profits have been disappearing. He explains:
Monsanto alone owns the key genetic traits to more than 90 percent of the soybeans planted by farmers in the U.S. and 80 percent of the corn, which means Monsanto can charge farmers much higher prices. And farmers are getting squeezed from the other side too, because the food processors they sell their products 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.
Reich also takes his viewers to a grocery store, to illustrate how it looks as if you have a lot of choices as you cruise the aisles. But when you take a closer look, you see monopolies everywhere.
Read 'When Corporations Play 'Monopoly,' Consumers Lose'