Across the West Powerful Firms Are Becoming Even More Powerful

As most people with critical thinking skills already know, capitalism in America was replaced with crony capitalism years ago. We now have the worst government money can buy.

Rigged Game

America’s economy has become a capitalist dystopia.

By Patrick Foulis and cross-posted from The Economist (Behind Paywall)

One bright morning earlier this year your correspondent travelled from New York to the University of Chicago to attend a conference on the threat to prosperity posed by monopolies. The journey began with an alarm beeping on a handset made by Apple (which has a 62% market share in America), then a bumpy taxi ride to the airport paid for using a piece of plastic issued by one of the three firms, American Express, MasterCard and Visa, that control 95% of the credit-card market. In the terminal, breakfast was scoffed from a supersized fast-food chain, while emails were checked using Google, which has 60% of the browser market.

The mobile signal was transmitted on one of the three networks that control 78% of the telecoms market. The flight was with one of the…

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