The result is that monopolies find they cannot sell all they have produced, and they lay off workers. Economic crises are aggravated by speculation, hoarding and other schemes of the bankers, financiers and industrialists. Each tries to profit in the short run, but their individual greed eventually throws the whole system into turmoil, leading the working class and people to suffer. This anarchic system wastes a great deal of social wealth. Millions of dollars are spent on corporate takeovers and legal fees.
Money is diverted from the expansion of production and social services into speculative frenzies.
Useful products and crops are routinely destroyed to keep prices and profits high. Massive industrial plants sit idle as the monopolists decide they can make money in other ventures. Thousands of people and small businesses are uprooted from one community to another as plants close in one area and open in another. Major advances in public transport are blocked by companies with investments in cars and roads. Monopoly capitalism is an obstacle to the further advancement of the material well-being of society.