Monopolies Operating In Competitive Markets

Multiple human rights organizations, as well as political and social organizations, are condemning what they are calling a “new form of inhumane exploitation in the United States,” where a prison population of up to 2 million – mostly Black and Hispanic are working for various industries for a subsistence wage (Pelaez, 2008). For the businesspersons who have invested in the prison industry, however, it has been like finding a ‘pot of gold.’ All of their workers are full­time, and never arrive late or are absent. Moreover, if they don’t like the pay of 25 cents an hour and refuse to work, they are locked up in isolation

In chapter 13 of Corrections in America, the author describes the history of private-sector involvement in corrections and identifies its advantages. The author also describes how prison inmates were considered slaves of the state. Overall, this chapter compares gatekeepers and rainmakers. A private sector correctional facility is any prison, for-profit prison, detention center, is a facility in which juveniles and adults are physically restricted, housed, or interned by a nongovernmental organization which is constructed by a public-sector government agency.

The competition pressures the workers to work harder and create something new to reach a higher status in life. And these hard works of people, no matter if they are working to reach the high status or for better of society, help the nation as a whole. For example, the companies like Apple, Microsoft, Samsung are all having competition to have higher sale of their products. The workers of the company work hard to create better products then the other companies. Their motives are for the profit issues, but their outcomes from those competition help the nation.

In the 1800’s, after the civil war, there was a lot of industrial change in America. The Steel Industry became more popular and efficient. Railroad Tracks were being built to connect the eastern United States to the Western United States for the first time, creating Transcontinental Railroads. However, the main thing that happened was was The Standard Oil Monopolies. John D. Rockefeller started getting into the oil Industry with a few partners and would spy on other companies or buy all of their stock during the stock market crash as well as other scheming ways.

Monopolies: The Trailblazers of America The second industrial revolution, spanning from the late 1800s to the early 1900s, was distinguished by rapid industrialization, economic upheaval, and the development of large monopolies. Small groups had total control of these monopolies and varied from many industries, the most well-known being oil, steel, and railroads. Although these monopolies had their faults, they have left a legacy on the American nation that has influenced almost every aspect of the United States today. These benefits include the growth of infrastructure on a national scale, the advancement of technology and innovation, and the cultivation of new business practices.

The prison-industrial complex is a corrupt political system that consists of overpowered politicians whose sole ambition is exploiting poor, uneducated, and under-privileged Americans to make money. Although, it wasn’t initially the purpose when Rockefeller started the war on drugs, but he started something bigger than he could’ve imagined at that time. The prison system has been proven to be ineffective, and costly waste of resources. However, it probably won’t be abolished due to the cash flow that it brings to some of the largest corporations in the

I have discovered local politics have the most impact on our lives and the rules by which we live. This year the state of Ohio has come up with two issues. They are Issue 2 and Issue 3. The purpose of Issue 2 as stated by the Ohio government’s website is, “to prohibit any individual or entity from proposing a constitutional amendment that would grant a monopoly, oligopoly, or cartel, specify or determine a tax rate, or confer a commercial interest, right, or license that is not available to similarly situated people or nonpublic agencies.” Along with that matter, as stated by the Ohio government’s website, “Issue 3 legalizes marijuana for medicinal and personal use in Ohio.

Corruption was prevalent in the United States during the 1900s. Fraud existed in major industries, such as monopolies or unsafe working conditions. Several people wanting reform wrote books and articles about the industries which made a large impact on the consumers and users of industries. This put pressure on the president to make changes in regulating these industries. Muckrakers, a group of journalists, exposed corrupt issues to the American public, which brought reform to many major industries such as oil, railroads, and government.

Through the introduction of new business practices such as vertical and horizontal integration industries were able to facilitate rapid growth. The “Titans of Industry” John D. Rockefeller, J.P Morgan, Andrew Carnegie, and Vanderbilt built, respectively, their own monopolies in which they justified how their actions were actually “improving the lot of humankind” and how through Social Darwinism they were “justified in their overbearing behavior” (Shultz 301). Social Darwinism derives from the theory of “survival of the fittest” which was applied to the “contemporary economic environment” creating racialistic views on minorities from that era such as the following: women, African Americans, certain types of immigrants, and Native Americans (Shultz

During the Progressive Era, many reforms were made in the attempt to fix the negative facets of America (Fagnilli 27). Progressives were reformers who supported ideas that attempted to make a change in society’s problems, such as corruption of government, women’s suffrage, and accessibility of education (The Progressive Era). These reformers lived mostly in urban areas, and therefore witnessed these issues first-hand, thus they believed that country could be mended by the government if it took responsibility for ensuring safe work conditions and environment, and education (The Progressive Era). Crucial to change in America, issues that were targeted by reforms had both positive and negative impacts, which indisputably changed America.

During the Progressive Era there were multiple of changes occurring that people became overwhelmed. New resources in the oil market, industrialization, fights for equality. There were many factory jobs, however, no one to stand up for the workers. So of course people will turn to their government for help, the power house of the country. However, even the government was picky in what they helped with.

Additionally, in an attempt to foster an increase in professionalism within the correctional community, care and consideration must be taken with the care and housing of inmates both privately operated and those operated by some branch of the government. “The quality of prisons has improved from the past, but there continue to be too many inhumane new prisons. New construction does not always result in a prison conductive to humane incarceration” (Bartollas,

In business, competition can be defined as "the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms. ”(Wikipedia, 2014) Competition is an essential element among enterprises as it helps them to allocate resources efficiently and a prerequisite for free market economy as mentioned by Adam Smith. Competition policies and regulatory mechanisms are used to ensure that consumers have wider range of products and services, to prevent uncompetitive practices (i.e., firms do not collude), to insure that firms follow the quality standards and safety regulations and finally, to promote legitimate and liberal competition.(Tutor2u.net, 2014) UK government competition policy has been distressed on adjusting market behaviour and especially on abuses of market power from firms acting individually in a specific market (i.e., a monopoly).

The oligopoly market is set up in a way so that competitors can survive because each is unique and there are so few competitors that they are virtually indispensable even if some ethics atrocity

1.0 INTRODUCTION In an economy, there exists different market structures to accommodate different industries and firms. This study will be made to understand in further depth the market power of different market structures, and in particular an example of using case studies of agricultural sector of the French markets to explain how an ideal perfectly competitive market works. This will then be further strengthened with several references linked to the case study. 1.1 Monopoly market