To fight inequality, we must strip billionaires of their monopoly power - Lemmy.World

A couple of slices: >Extreme wealth disparity is not due to a lack of taxes, but rather a lack of competition. In a competitive market, profit margins are quite low. If any one company tries to set its prices much higher than the cost of production, rivals quickly undercut it. Unfortunately, large parts of our economy are blocked off from competition by laws and regulations. This allows monopolistic corporations to charge exorbitant prices. >… >Therefore, it is important to understand how billionaires create and maintain these monopolies that allow them to amass such unfathomable riches. And: >A lack of competition allows billionaires and their corporations to not make, but take wealth from everyone else. It is not enough to merely tax them on their ill-gotten gains. We need reforms to ensure that they can’t exploit and fleece everyone in the first place. Do read the whole thing. If you enjoyed this article, please check out the other articles on my website and subscribe to receive future ones.