Corporate mergers and acquisitions consolidate power from "summary" of The New Industrial State by John Kenneth Galbraith
In the modern industrial system, the process of corporate mergers and acquisitions plays a crucial role in the consolidation of power within the economy. When two companies come together through a merger or acquisition, they are effectively combining their resources, market share, and influence. This consolidation of power allows the newly formed entity to wield a greater level of control over the market, as well as over other businesses within the industry.
By joining forces, companies are able to eliminate competition and establish a dominant position in the market. This increased market power enables them to dictate terms to suppliers, distributors, and even consumers. As a result, they are able to set prices, control production levels, and shape the overall direction of the industry. In essence, corporate mergers and acquisitions are a means of centralizing control and inf...
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