How capitalism creates monopolies
Channel: ItHadToBeSaid
Date: 13/01/2024

An argument in favor of capitalism as an economic system is its competitive nature makes it impossible for anyone to dominate the market. A look at how capitalism works, however, finds nothing about capitalism that discourages monopoly and several factors that encourage it. 

0:38 competition creates monopoly
7:36 laws create monopoly
14:36 war creates monopoly

Sources:

The Origin of Capitalism: a Longer View by Ellen Meiksins-Wood (I suggest accessing this and all other books I cite on this channel for free through Z-Library. You can sign up here: https://singlelogin.me/registration.php. I know it looks like they’re my sponsors but it’s just a great site for free books.)

The Triumph of Conservatism: a Reinterpretation of American History, 1900-1916 by Gabriel Kolko

The Corporate Ideal in the Liberal State: 1900-1918 by James Weinstein

Prof Richard Wolff on how competition leads to monopoly: https://www.youtube.com/watch?v=NDwgfiN-JS8

The Iron Fist Behind the Invisible Hand by Kevin Carson: https://theanarchistlibrary.org/library/kevin-carson-the-iron-fist-behind-the-invisible-hand 

The state’s many monopolies by Charles W. Johnson: https://theanarchistlibrary.org/library/charles-johnson-the-many-monopolies 

Creative destruction: https://en.wikipedia.org/wiki/Creative_destruction 

The FTC and states-attorneys-general’s report alleging Amazon is a monopoly: https://storage.courtlistener.com/recap/gov.uscourts.wawd.326809/gov.uscourts.wawd.326809.1.0.pdf

“What’s good for GM is good for America”: https://www.hemmings.com/stories/2019/09/05/fact-check-did-a-gm-president-really-tell-congress-whats-good-for-gm-is-good-for-america

Big corporations aren’t incentivized to innovate: https://www.nature.com/articles/d41586-017-07421-3

Why insulin is so expensive: https://www.vox.com/2019/4/3/18293950/why-is-insulin-so-expensive 

Timeline of major famines in India during British rule: https://en.wikipedia.org/wiki/Timeline_of_major_famines_in_India_during_British_rule

OpenSecrets: https://www.opensecrets.org/ 

Structural violence: https://en.wikipedia.org/wiki/Structural_violence 

Structural adjustment: https://www.globalissues.org/article/3/structural-adjustment-a-major-cause-of-poverty 

War Is a Racket by Smedley Butler: https://ratical.org/ratville/CAH/warisaracket.html 

How the War on Drugs explains the state: https://www.youtube.com/watch?v=PR6nNIlvCfY 

A transcript of this video is available at https://theruleoffreedom.wordpress.com/2024/01/13/how-capitalism-creates-monopolies/