lack of COMPETITION in the USA

One reason I’ve been so disappointed with Obama is that he’s done very little to reduce the rate of rich getting richer, poor getting poorer. 😦

Economist:

AMERICA used to be the land of opportunity and optimism. Now opportunity is seen as the preserve of the elite: two-thirds of Americans believe the economy is rigged in favour of vested interests. …

A tenth of the economy is at the mercy of a handful of firms—from dog food and batteries to airlines, telecoms and credit cards. A $10 trillion wave of mergers since 2008 has raised levels of concentration further. …

Lobbying spending has risen by a third in the past decade, to $3 billion. …

And new regulations do not just fence big banks in: they keep rivals out. …

… the rate of small-company creation in America has been running at its lowest levels since the 1970s. …

Most of the remedies dangled by politicians to solve America’s economic woes would make things worse. …

Modernising the antitrust apparatus would help. …

The second step is to make life easier for startups and small firms. …

A blast of competition would mean more disruption for some: firms in the S&P 500 employ about one in ten Americans. But it would create new jobs, encourage more investment and help lower prices. Above all, it would bring about a fairer kind of capitalism. That would lift Americans’ spirits as well as their economy.

The problem with profits

lack of competition

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Rick Mc

Career gymnastics coach who loves the outdoors, and the internet.

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