Oligarchy or corporate control?
I wonder when the number of companies in so many industry sectors reduced to the numbers that have created a natural oligarchy.
Plutocrachy, oligarchy, oligopoly. All are reasonable terms for the state of play in the world. But these companies, and the governments they fund, have created an impression of false competition. So that we don’t question things.
There was oligopoly in the past. It’s why Standard Oil got broken up. And Bell Systems (“Ma Bell”). A government with some will and principle reacted to private corporates that wielded unhealthy dominance.
That will doesn’t seem to be there any more. Certainly not on the political right. But there’s also no major public outcry at, say, Amazon’s market dominance. And no political move to address it. It’s hugely unhealthy. The pandemic has brought more scrutiny, and more criticism, but also huge increases in wealth for Bezos and his company…and other oligarchs.
How does it get stopped? How do we react to the new generation of “robber barons”?