In a FREE market within a FREE society, such consolidation opens the door for upstart competition.
In a fascist society, of course, the new ventures cannot overcome the regulatory advantages enjoyed by the government approved monopolies.
Great point.
Yes, precisely. This chart should be tattooed on the inside of every conservative’s eyelids and actions taken from its implications. Capitalism has a negative side- it tends towards monopolism which is fascism. Too big to fail is fascism. See the list of fascist banks below. That’s what happens when you trounce the competition. A really really smart capitalist will only weaken the competition to the point that it has to innovate to overcome its disadvantages. This drives the market into new areas and keeps you honest. Capitalism is NOT warfare, it is DISCOVERY.
Break these fascist globalist b@stards up today, reinstate Glass Steagall now!
Bank of America (US)
Bank of New York Mellon (US)
Citigroup (US)
Goldman Sachs (US)
J.P. Morgan (US)
Morgan Stanley (US)
State Street (US)
Wells Fargo (US)
BNP Paribas SA (France)
Banque Populaire (France)
Crédit Agricole SA (France)
Société Générale SA (France)
Barclays PLC (UK)
HSBC Holdings PLC (UK)
Lloyds Banking Group PLC (UK)
Royal Bank of Scotland PLC (UK)
Mitsubishi UFJ FG (Japan)
Mizuho FG (Japan)
Sumitomo Mitsui FG (Japan)
Commerzbank AG (Germany)
Deutsche Bank AG (Germany)
UBS AG (Switzerland)
Credit Suisse AG (Switzerland)
Dexia SA (Belgium)
Bank of China (China)
Unicredit Group SA (Italy)
ING Groep NV (Netherlands)
Banco Santander SA (Spain)
Nordea AB (Sweden)
I see you have read Von Mises’ book “Socialism”.
I’m on page 430, and am still shocked by how accurate he was.
“In a fascist society, of course, the new ventures cannot overcome the regulatory advantages enjoyed by the government approved monopolies.”
Capitalism and small business thrived in the 18th and 19th centuries before the federal government assumed primacy over the governments of the individual states. The federal government’s expanded definition of the Constitution’s commerce clause in the 20th and 21st centuries has allowed it to bestow national monopoly or oligopoly status to favored companies through the regulatory process.
Obamacare should do a wonderful job of strangling new businesses before they ever have the chance to become household names.
OUTSTANDING post BUMP!
Words of reality re the fascists, who control so much of America and the rest of the world.
“In a FREE market within a FREE society, such consolidation opens the door for upstart competition.
In a fascist society, of course, the new ventures cannot overcome the regulatory advantages enjoyed by the government approved monopolies.”
I was startled years ago when Clintoon invited the Chicom leader over to mingle with our top CEO’s.
It was an eye opener to see these guys fawning over the Clintoons and clamoring to get in line to kiss the head Chicom’s butt.
Most of these CEO’s then and now are card carrying rats and many have deep pockets to finance the elections for their rat buddies.
Corporations are very careful once they get to oligopoly or monopoly status to set up barriers of entry to any start ups or buy them out early. The ‘free market’ without strong anti-trust regulations simply can’t in most real world situations.
The oil company consolidations in the 90s never should’ve been allowed. We’re paying probably 2x at the pump due to the lack of competition now. Oligopolies like we have in so many sectors are the worst nightmare for the free market. The FTC has really been paid off or just incompetent in allowing so much consolidation as this article shows.
You said it, those who rant about the awful “corporations” act as if there is only one kind of corporation, the giant mega-business that thrives on government regulation. They never realize that the very government they keep saying should “do something” about the corporations has created the environment necessary for these monsters to thrive.