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Home/Business & Economics/In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration?

In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration?

The increasing concentration of the American business sector into fewer giant corporations is an economic problem because it decreases competition. Corporations control significant market segments, making it impossible for small businesses to compete with them on equal terms.

Moreover, giant corporations are often monopolists in their economic sector, which leads to a decrease in product quality, a price increase, and overall client dissatisfaction.

These are adverse effects of the lack of competition, which is the basic principle of the market economy. It is possible to reduce economic concentration by providing small businesses with governmental financial aid and social support.

For instance, when customers choose products from the local dairy producer instead of buying similar products from the giant corporation, they support the functioning of the local small business and reduce economic concentration.

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Academic.Tips. (2023) 'In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration'. 6 May.

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Academic.Tips. (2023, May 6). In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration? https://academic.tips/question/in-view-of-the-increasing-concentration-of-the-u-s-business-sector-into-ever-fewer-numbers-of-giant-corporations-a-is-this-growing-concentration-an-economic-problem-and-b-what-specific-actions-wo/

References

Academic.Tips. 2023. "In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration?" May 6, 2023. https://academic.tips/question/in-view-of-the-increasing-concentration-of-the-u-s-business-sector-into-ever-fewer-numbers-of-giant-corporations-a-is-this-growing-concentration-an-economic-problem-and-b-what-specific-actions-wo/.

1. Academic.Tips. "In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration?" May 6, 2023. https://academic.tips/question/in-view-of-the-increasing-concentration-of-the-u-s-business-sector-into-ever-fewer-numbers-of-giant-corporations-a-is-this-growing-concentration-an-economic-problem-and-b-what-specific-actions-wo/.


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Academic.Tips. "In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration?" May 6, 2023. https://academic.tips/question/in-view-of-the-increasing-concentration-of-the-u-s-business-sector-into-ever-fewer-numbers-of-giant-corporations-a-is-this-growing-concentration-an-economic-problem-and-b-what-specific-actions-wo/.

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"In view of the increasing concentration of the U.S. business sector into ever-fewer numbers of giant corporations, a) is this growing concentration an economic problem; and b) what specific actions would you recommend to reduce economic concentration?" Academic.Tips, 6 May 2023, academic.tips/question/in-view-of-the-increasing-concentration-of-the-u-s-business-sector-into-ever-fewer-numbers-of-giant-corporations-a-is-this-growing-concentration-an-economic-problem-and-b-what-specific-actions-wo/.

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