Monday, August 29, 2011

Oligopolies: The Solution

I have been consistently complaining about the consolidation of industries in this country and the creation of oligopolies that are controlling more and more of our economy and thus destroying the free market system. Over the weekend I was asked what I recommend we do about it. Our government must carry out the laws of this land, including anti-trust laws that were created to prevent the destruction of free markets by private entities.For starters, the industries that need to be investigated include health insurance, banking, finance, mobile phone, Pharmaceutical and cable/communications. There will be more industries that will warrant investigation after further review.

Campaign contributions by these oligopolies and large multinational companies are preventing congress and the president from investigating the destructiveness of these industries and companies. In our current political climate the only way to correct the problem is to amend the constitution to not allow contributions from unions and corporations. Given the amount of political bribes handed out by these entities, change will not happen any other way.

There is a group trying to do just that. It is called Fix Congress First. They, along with the founder of the largest grassroots tea party organization in the nation, are holding a Conferance on the Constitutional Convention at Harvard University in September. This could be the beginning. I want to stress that I am not a member of either organization and I disagree with allot of what the Tea Party stands for. In this case, they have it right.

2 comments:

Anonymous said...

The only problem is, one would have to somehow get a congress to approve such an amendment through. A congress that is the beneficiary of all of what you say.
Remember the wildly successful career of Teddy Roosevelt. Wildly successful until he initiated anti-trust actions.
Then, he never managed to regain the backing of EITHER party.
So, he formed a new party. A party notable for being even less successful than the socialist party.

Banicki said...

Things are differant now. People are fed up with Washington and they see large corporations have gotten too powerful.