Do you agree that we need to actually start enforcing the anti-trust laws to prevent monopolies from forming?

[msc545]

[abc3643]

What makes you think they aren't being enforced?

For example, the Federal Trade Commission's approval is needed for major corporate acquisitions to prevent monopolies.

Case in point:

I live in Missouri where the "Farm and Ranch Retail" (aka "Rural Lifestyle Retail") industries are significant. One prominent national chain is Tractor Supply Company.

5 years ago, there were 6 locations the chain stores in this industry near me (less than 50 miles).
1 Buchheit location (regional chain based in southeast Missouri)
3 Orscheln locations (regional chain based in central Missouri)
2 Tractor Supply Company locations

A few years ago, Tractor Supply wanted to expand its store footprint in this part of the country and targeted Orscheln for acquisition.

The FTC did not initially permit the acquisition deeming that Tractor Supply Company would have near monopolistic power in Missouri. After some time, the FTC permitted the sale provided about half the Orscheln locations were not acquired by Tractor Supply, but by Buchheit and Bomgaars, a region chain in this industry but based out of Iowa.

So, now, those 6 locations near me are:

1 Buchheit location (no change near me)
2 Bomgaars locations
3 Tractor Supply Company locations

=======

Back to the general idea of monopolies, they will happen - especially in new industries - and they are often broken up as a result of the legal process. In a sense, while the FTC may prevent some, a monopoly isn't generally broken up unless there is genuine harm to the consumer or threat to the nation from the monopoly. That's what the legal process does; if you are harmed by the monopolistic power of a company, then sue that company claiming their are abusing that power. If it is found that you were harmed, the remedy is often the breakup of the monopoly.

[OneViewpoint]

Antitrust enforcement is only the start.

• We need to rewrite the tax code.
• We need to raise the maximum tax rate.
• We need to get rid of bullshit like extreme low tax rates for unearned income like capital gains and carried interest.
• We need to get rid of tax loss carry forward.
• We need to go after corporations holding cash offshore to avoid taxation.
• We need to create a wealth tax to claw back 50 years of wealth stolen from the middle class.
• We need to resurrect the Consumer Financial Protection Bureau
• We need to tax all Churches and religious entities that dabble in politics.
• We need to outlaw political lobbyists.
• We need to outlaw dark money in politics from any source.
• We need to purge the corporate stooges the 1% have put in in place in government and the courts.

[msc545]

Excellent answer. Thank you very much!

[RandomGirl42]

As usual, I have no clue how to answer your question but seeing you and @exitseven agree on something is just as awesome of a Christmas miracle as the Christmas truce of 1914! https://en.wikipedia.org/wiki/Christmas_truce

And Happy Holidays! 🎄

[exitseven]

@RandomGirl42 Happy Holidays to you too Random.

[msc545]

Happy holidays random!

[IHaveRespawned]

Yes, absolutely. I support entrepreneurship and private business, but I also believe competition is extremely important. Private companies should not have monopolies or be monolithic. My county for the longest I can remember contracts EMS and Fire services in some areas to private corporations, where no other EMS service can function (through 911 calls). There are certain services and functions that should not be privatized, especially pertaining to public safety. I support a mixed economy.

[exitseven]

Yes, where is Teddy Roosevelt now that we need him. Pretty soon there will only be two banks, one TV network and Two places where you can buy stuff. Back in the day a company could only own 1 AM, 1 FM and one TV station in a single market. Now almost all the radio stations are owned by I Heart

[msc545]

My god, I don't believe it. But here is something we can actually agree on wholeheartedly. Merry Christmas!

[exitseven]

@msc545 Merry Christmas to you lad. 😎😎

[RandomGirl42]

🎄🎄🎄

[NathanDavis]

I think it is way too late for that...

about 15 years late... or perhaps more

[msc545]

It is never too late to start reining in corporations' bad behavior and making them play fair.

[NathanDavis]

in theory... never too late, no

but in practice... it becomes a lot less plausible, and even problematic to try and solve it, too costly, that is

for example... and just one example, Boeing as a company... the entirety of the US as a government and as a group of companies that fly stuff... rely on Boeing, and there is nothing and nobody else that could ever replace Boeing as it is now

and because of this monopoly... Boeing is ALLOWED by the government to regulate themselves, to inspect themselves and they do not actually respond to any other agency, there is no supervision for them

and this is why people at Boeing push planes into production and rush their production with hundreds and thousands of quality issues... because nobody else is able to replace them anyway

now, sure... the USA could just "cancel" all of their contracts and find someone else... but guess what... that someone else will not sign a contract for peanuts... they will want and demand billions upon billions of money that the government doesn't even have, so... yeah

easy to say... but not so easy to actually pay for

[NathanDavis]

oh, and because you seem to like "sources" a lot

here's just one... good to read to see what I mean

jacobin.com/.../boeing-self-inspection-safety-oda

" Boeing’s Self-Inspection Program Is Deeply Flawed

By
Freddy Brewster

The Federal Aviation Administration has long allowed Boeing to conduct its own aircraft safety inspections. A new government investigation suggests that the self-inspection program could have played a role in multiple plane crashes."

[msc545]

The government could also enforce safety standards at Boeing if it wanted to.

[msc545]

I am well aware that this practice has caused a lot of safety issues, and it's not just at Boeing but almost everywhere actually. I fly small planes, and the whole issue of parts and the issue of where the parts come from and if they were made from the proper materials is a big one in small planes. You have to be very careful where you buy parts from and where your mechanic buys parts from because one of those parts if it's not made from the correct material can kill you.

[Chazmatazz269]

Yeah. However, you are aware antitrust laws have been enforced routinely for the last forty of fifty years, right?
“Job creators” got slick lawyers to turn antitrust laws against the unions. So now we either repeal the laws and give corporations even more freedom to conduct their business in as corrupt a manner as they please, or we punish unions for being far and away the working class people’s best solution to job safety and fairness.

[msc545]

What you are describing is corruption and dealing with that is a whole nother discussion that I don't think I'm qualified or prepared to actually have.

[MisterWack]

President Theodore Roosevelt gave us the tools, we should utilize it and go after unfair competitive practices, big companies buying out the little guys or other massive companies, those levied little to no taxes even when their company is valued at trillions of dollars, and those destroying our environment.

[jshm2]

Don't be so naive and small minded. Laws do nothing against monopolies Lobbies and money can change laws and categories, so the monopolies are less obvious.

Not because monopolies fear or care about laws, but the whole point of a monopoly is to make money, People are less likely to buy from an obvious monopoly, so they need to give the illusion of choice to make that money.

[Sevenpointfive]

this was the only movie that chris hemsworth has been in that i actually liked him in

[Kelly6]

@msc545 Yes it's good idea

[DrPepper12]

Yes. Next question