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Or to put it differently, rising monopoly rents can and arguably have had the effect of simultaneously depressing both wages and the perceived return on investment.
2. Competition breeds even more innovation in e-commerce — When Amazon bought Whole Foods recently some complained of a rising monopoly power.
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Other rising monopolies of the past got there by outmaneuvering the competition with better products.
In a world where unit costs fall without limit as output rises, monopoly thrives: a bigger firm can always undercut a smaller one.
Average prices rise under monopoly and fall under monopsony.
So a rising-monopoly-power story would be one way to resolve the seeming paradox of rapidly rising profits and low real interest rates.
It is a system characterized by an obsession with corporate size, reach, and power, much to the detriment of real capitalists and especially to the disadvantage of entrepreneurs: it is virulently anti-competitive in that it not only limits competition, destroying it in a vulture-like way, but it also promotes the rise monopolies and worse, international oligarchies.
There have been isolated victories, defensive levees raised here and there against the rising tide of monopoly rents.
The hard reality is that technology is transforming the geopolitical and regulatory landscape, driving the need for new protocols and regulatory systems to manage a rising era of monopoly capitalism.
Furthermore, as the Tax Justice Network argued in a recent blog post: "Those campaigning for tax justice need to keep building alliances with those concerned with curbing the rising power of monopolies.
The Atlantic ran a recent infographic titled "The Return of the Monopoly," describing rising concentration in airlines, grocery sales, music, and other industries.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com