Want to rescue rural America? Bust monopolies.
Since President
Trump’s election, much has been made of his rural, heartland voters, and how politicians can better serve them, with most discussion centering on international trade and globalization. But there is another political and economic disaster crushing the heartland — one politicians could solve now, if they chose to.
This slow-rolling wave of corporate mergers has left almost all major markets — airlines, telecommunications, health care, retail, milk, seeds for growing crops, hardware, even cowboy boots — dominated by a cluster of mega-corporations, cloaked behind a plethora of brand names. These behemoths now hold unprecedented power over thousands of once-thriving community economies.
Corporate
concentration has hit farmers, ranchers and agricultural workers especially hard. Many markets are entirely monopolized by a single company that dictates the terms of business to suppliers. Two decades ago, in the seed industry alone, 600 independent companies existed. Today there are six giants, several of which are pursuing high-profile mergers that will result in even more radical concentration. Similar levels of concentration exist for the beef, pork, chicken and dairy industries. The result is that the farmer’s share of each retail dollar of food has been collapsing, while consumers pay either the same or higher prices. Mega-corporations in the middle exploit their dominant market positions to reap all the profits.
It is a myth that the economic challenges that rural and small-town America face are caused by forces largely outside our control, like globalization or improvements in technology. We have the ability to help restore competition and economic vibrancy in rural America and beyond. The government has the authority to ensure markets are once again open and competitive so that communities have a chance to shape their own economic destinies. The question is whether we will recognize the error of our ways and put taking on monopolies high on the economic agenda — for rural and small-town America, and for everyone who wants to ensure our country can once again be the land of opportunity.
https://www.washingtonpost.com/post...want-to-rescue-rural-america-bust-monopolies/