But they left their plowshares to raise their voices against injustice and abuse of power at the last turn of the century. The year 2000 is shaping up to be another historic watershed. The biggest wave of mergers since the late 1800s has pushed economic concentration in all sectors onto center stage. Following suit, agribusiness is consolidating into a handful of multinational corporations, squeezing farmers between concentrated sellers and buyers. Mergers occur to gain cost efficiencies or market power.
Economists say that if cost efficiency outweighs market power, consumers benefit.
Economic models tell us that when competition decreases, retail prices increase. Consumers today pay a declining portion of disposable income for food. Hog runs in 1999 were comparable to 1998, yet live prices did not plunge. Antitrust only one tool Enforcement of antitrust law has been lax, but an understaffed Justice Department proved its case against Microsoft. This may set a precedent.