@KimPerales

So we are taught that #PredatoryPricing never happens, because it'd be irrational to incur losses by undercutting the competition to drive them out of business so you can have the whole market to yourself and jack up prices later. According to the Chicago school, this just doesn't happen. Too bad we see it happening all around us. So #consumerprices are set extortionistically, the spiral of #wealthconcentration accelerates, & #wealthinequality soars.

2/2

Of course they did!

https://www.cnn.com/2023/01/15/business/top-1-wealth-oxfam-davos/index.html

#WealthConcentration #TheOnePercent #SameOldStory

To say that "Power is constantly stealing from the many to the few," is only to state in another form the law that wealth tends to concentration. In the new era into which the world has entered since the application of steam, this law is more potent than ever; in the new era into which California is entering, its operations will be more marked here than ever before. The locomotive is a great centralizer. It kills towns and builds up great cities, and in the same way kills little businesses and builds up great ones.

-- Henry George, "What the Railroad Will Bring Us" (1868)
https://web.archive.org/web/20120426080607/http://www.grundskyld.dk/1-railway.html

#HenryGeorge #monopoly #railroads #inequality #WealthConcentration