Corporate power and the illusion of competition
Author
Faculty Advisor
Date
2024
Keywords
monopolies, corporate power, economic inequality
Abstract (summary)
A book by Denise Hearn and Vass Bednar is the latest from McGill Max Bell Lectures. It has received attention from a wide array of citizens including economists, government officials and independent business representatives, all of whom share concerns on stifled competition and innovation in Canada. Hearn and Bednar express concerns on corporate power and concentration by alluding to “three major telecommunications companies, five grocers, a few big banks, [and] two major airlines.” This phenomenon is problematic not just because of rising grocery bills and weak bargaining position for workers, but also because of concerns about long-term economic growth, less research and development (R&D) and low productivity. What this means is that citizens both on the left and the right can stand united against such market concentration, given their concerns about worker rights and economic growth respectively.
Publication Information
Jahangir, J. (2024, November 21) Corporate power and the illusion of competition. The Friday Times. https://thefridaytimes.com/21-Nov-2024/corporate-power-and-the-illusion-of-competition
DOI
Notes
Item Type
Review
Language
Rights
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