Concentration & Oligopolies
Rising prices, abuse of dominant position, squeezed suppliers and captive customers... Our economy is increasingly under the sway of a handful of corporate giants.
The rise of Big Tech has brought the issue of monopoly and concentration of economic power back to the forefront of public debate. In fact, virtually all economic sectors are now dominated by a handful of global giants that impose their conditions on everyone else. Bayer and Monsanto, Essilor and Luxottica, Lafarge and Holcim... With the current wave of mega-mergers, these giants are getting bigger and fewer every year.
Apart from a few tentative steps in the digital sector, public authorities remain largely passive in the face of the market power of global oligopolies. They often actually encourage mega-mergers, In the name of global competitiveness and creating national or European champions, even though these inevitably result in job losses and benefit shareholders above all.
Worse still, "free competition" policies are used to impose the liberalisation and privatisation of public services, with former public monopolies being replaced by private oligopolies with captive customers in sectors such as energy and rail transport.