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Published on Jan 8, 2019
‘Capitalism without competition is not capitalism.’ — The hidden reason economic inequality is on the rise is right in front our noses. » Subscribe to NowThis: http://go.nowth.is/News_Subscribe
Denise Hearn is the co-author of 'The Myth of Capitalism.' The financial expert explains in this new video op-ed how capitalism and the American dream is largely a myth. Additionally, inequality in America is on the rise as mega corporations take over the economy. 'Competition is dying in America,' Hearn argues, 'And capitalism without competition is not capitalism.' Hearn goes on to explain that it's happening across industries and it's resulting in the appearance of choice, but in reality there are only one or two options. This is called industry concentration and it leads to higher prices. Hearn points to President Reagan's deregulations which allowed companies to merge and combine at unprecedented rates. Hearn says, 'If you're wondering why inequality is so high, the wealthy own the toll roads of American life and everyone else must pay to use them.'
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