OUR UNHEALTHY DEPENDENCE ON MONOPOLIES

  • Apple holds 62% of the S. market share for cell phones.
  • Three firms, AMEX, MasterCard and Visa control 95% of the credit card market.
  • McDonalds handles almost 20% of the fast food market.
  • Google controls 60% of the browsers market.
  • Four airlines control 69% of flights within America.
  • Your mobile signal is transmitted on one of three networks that control 78% of the telecoms market.
  • Hilton Hotels controls 12% of all rooms in America and 25% of the new rooms being built.
  • Expedia and Priceline have over 50% of the online travel market.

These companies made $151 billion last year and had a return on capital of 29%.

The U.S. economy has become dangerously monopolistic.  If profit margins fell to their historic levels, real wages would increase by 6%.

Bottom line… Big firms are too powerful and they are stifling competition.  This is a clear case for government intervention.  Since big companies will not voluntarily give up market share, our political leaders must invoke the Sherman Antitrust Act.  Passed by Congress almost unanimously in 1890, and  remains the core of antitrust policy.  The time to enact it is now.

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