“The big picture: While his is a dramatic rendering of the state of American agriculture, Petersen has a point: Across industries, the U.S. has become a country of monopolies.
- Three companies control about 80% of mobile telecoms. Three have 95% of credit cards. Four have 70% of airline flights within the U.S. Google handles 60% of search. The list goes on. (h/t The Economist)
- In agriculture, four companies control 66% of U.S. hogs slaughtered in 2015, 85% of the steer, and half the chickens, according to the Department of Agriculture. (h/t Open Markets Institute)
- Similarly, just four companies control 85% of U.S. corn seed sales, up from 60% in 2000, and 75% of soy bean seed, a jump from about half, the Agriculture Department says. Far larger than anyone — the American companies DowDuPont and Monsanto.
As we have reported, some economists say this concentration of market power is gumming up the economy and is largely to blame for decades of flat wages and weak productivity growth.”
You know I get really tired of reading HORRIBLY WRITTEN articles. Get to the fucking point. Damn you people don’t know how to write a article? State your TL;DR version then go into details. If it takes you multiple paragraphs to state your position you fail at writing.