Introductory courses in Microeconomics often spend far too
much time discussion perfectly competitive settings – something we rarely
encounter in the real world.
In a world often dominated by oligopolies and natural and
legal monopolies, firms often have tremendous pricing power. Price markups are
the norm rather than the exception.
Airline Industry Consolidation - Less Competition, Higher Prices
https://skift.com/2015/07/14/analysis-consolidation-of-u-s-airline-industry-radically-reducing-competition/
Cable/Internet Service Providers – Another Industry with Tremendous Pricing Power
Mylan (the maker of Epipen) Has Learnt to Game the System
“What Mylan’s
success really shows is that the current pharmaceutical system allows companies
to be rewarded not for real innovations but for gaming that system. What the
company has done is enjoy the benefits of government assistance and authority
without having to endure any additional scrutiny, let alone any governmental
control over the prices it charges.”
Do Patents Help or Hinder Economic Activity?
http://vivekjayakumar.blogspot.com/2016/04/do-patents-help-or-hinder-growth-and.html
We desperately need to boost competition in the corporate
sector – to revitalize capitalism:
New Tools to Promote Competition
The Economist special
report on competitiveness
http://www.economist.com/news/special-report/21707048-small-group-giant-companiessome-old-some-neware-once-again-dominating-global
http://www.economist.com/news/special-report/21707048-small-group-giant-companiessome-old-some-neware-once-again-dominating-global