you mean 5th grade liberal history?? Here are the facts: The Robber Barons: Republicans Greatest Shame! From: The Myth of The Robber Barrons by Forest McDonald Edward Collins $33,000 per Atlantic crossing (page 7) Cornelius Vanderbilt (robber barron) $15,000 per Atlantic crossing Collins $600 NY to California Vanderbilt (robber barron) 150 NY to California( page 12) "James J Hill cut freight costs from 90 cents to 44 cents a pound" (page 34) and still made a profit while the heavily subsidized Union Pacific and Central Pacific always lost money "Coopers charged 2.50 per barrel Rockefeller cut his to $.96" (Page 86) "From 1865 to 1870, the price of kerosene dropped from 58 to 26 cents per gallon, Rockefeller made profits during everyone of these years" (page 87) "Before 1870, only the rich could afford whale oil and candles, The rest had to go to bed to save money. By 1870 with the drop in the price of Kerosene, the middle and working class people all over the nation could afford the one cent an hour that it cost to light their homes at night".( page 87) "When Andrew Carnegie entered steel production in 1872, England dominated world production and the price of steel production was $56 per ton. By 1900 Carnegie Steel was manufacturing steel for $11.00 per ton and out stripping the entire production of England!" (page 126)
Economics 101. Large industry can produce cheaper than small industry. Hence and wheretofore, they can lower prices to stymie competition. I hope this is educational for you.
so?? competition rewards the winner and kills the loser to raise our standard of living at the fastest possible rate. we want the best to stymie the competition with superior price and quality. Do you understand?
Why would the pricing have to be upwards? Obviously you do not understand the markets. Walmart grew as it did by pricing items downward to the point where the competition could not buy goods for a price lower then Walmart could sell them for (bulk buying) thus putting the competition out of business. It is the same method China is using with lower wages.
and you are against businesses lowering our prices to raise our standard of living at the fastest possible rate?
"Libcommie"? Love the ignorance of the right wing that lacks the ability to think for themselves. Do you think it might have been the right wing war on unions, and the middle class, that did so while dividing the country? https://thedailybanter.com/2017/06/conservatives-are-destroying-america/
I am against destroying competition simply because one has the power to do so. Doing so causes the loss of jobs, the loss of income, and a lower standard of living. All one has to do is look at what has happened since NAFTA, and the WTO. We now live in a country where 3 people own as much wealth as the bottom 50% of the country.
high priced union junk drove 10 million jobs off shore so thank God conservative intellectuals hate unions
actually libcommie unions shipping 10 million jobs off shore is a war on middle class, plus attacking their families religion and schools hurts badly too. Do you understand.
no idea why that's a problem unless they stole it from bottom 50%?? someone at the bottom needs to graduate from HS not complain about how much money Jeff Bezos has or make plans to steal money from Bezos .
You do know that those jobs left under commie lover Bush43, right? Even Bill Clinton was smart enough not to give China full membership in the WTO, or to invade Iraq. However, you have not shown enough intellect to be able to understand anything save for what your masters tell you. https://www.washingtonpost.com/news...under-obama-than-bush/?utm_term=.433bc3181eb8
Phew, you really are a piece of work. I would suggest you actually read what I said, and try to comprehend what intelligent conversation means.
They incur loses for a limited period only, long enough to drive the competition bust. Introductory offers, loss leaders etc.
They don't incur losses, just smaller profits, and smaller competition can't match the lower prices without incurring losses. This is how the robber barons of the late 1800's and early 1900's controlled the market.
After the competition is stymied, the large industrialist raises prices dramatically as was done in the days of the robber barons. At that point, there is no competition.
So they offer the consumer a better product at a lower price than everyone else? Why would this be a bad thing?
