Large corporations justify their mergers and acquisitions with economic rules that do not apply. However, the Department of Justice and the Federal Trade Commission continue to turn a blind eye to the truth that the economies of scale, the economies of coordination, and the economies of scope (multiple product lines) are all false beyond a certain point. The big multi-national corporations are not cheaper, better, or more efficient. They are, however, powerful enough to crush anyone with the temerity to challenge them in fair competition. This is true in retailing, airlines, internet service providers, cable television, banking, and food. In other words, the government continues to allow these industries to consolidate for no economic reason that benefits the people. Diana Moss of the American Antitrust Institute explains.
Guest: Diana Moss
Learn more at: American Antitrust institute
American History Minute:
United We Stand