💲 You Are Being Lied To About Inflation: Robert Reich, Monopolization of America

Last edited Mon Sep 25, 2023, 09:45 PM - Edit history (4)

- (Video description). The underlying problem is not inflation. It's corporate power. The entire American economy is concentrated into the hands of a few greedy, corporate giants with the power to raise prices.*More "The Monopolization of America" (Below).
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.. Monopolistic behavior also reduces workforce competition, and there is lessening incentive for corporations to provide reasonable pay and benefits to their employees.

I noticed this trend in the 80s when small businesses were going bust to large companies like Walmart and such.

.. Lack of competition is a big factor in [raising prices] also.

I believe the one thing that corporations fear more than anything else in this area is organized labor. I work as a trucker in a Teamsters Union shop and it is so sickening for me to hear about the abuse of non- union Teamsters.

.. When people say raising the minimum wage leads to inflation, I point out prices keep rising without raising it. Failure to actually bring corporate power to heel is the real problem.

I am reminded of a quote of Abe Lincoln's speech to the Illinois Legislature Jan. 11, 1837 "...These corporations generally act harmoniously and in concert to fleece the people,..."
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- Labor Unions in the United States - Labor unions represent United States workers in many industries recognized under US labor law since the 1935 enactment of the National Labor Relations Act. Their activity today centers on collective bargaining over wages, benefits, and working conditions for their membership, and on representing their members in disputes with management over violations of contract provisions...https://en.m.wikipedia.org/wiki/Labor_unions_in_the_United_States



- WATCH More, "The Monopolization of America."

- Monopolies and Trusts - By the late 19th century, big businesses and giant corporations had taken over the American economy. Consumers were forced to pay high prices for things they needed on a regular basis, and it became clear that reform of regulations in industry was required. The loudest outcry was against trusts and monopolies.
Trusts are the organization of several businesses in the same industry and by joining forces, the trust controls production and distribution of a product or service, thereby limiting competition. Monopolies are businesses that have total control over a sector of the economy, including prices...https://www.encyclopedia.com/history/encyclopedias-almanacs-transcripts-and-maps/monopolies-and-trusts