From former Labor Secretary Robert Reich:
Food prices remain high because there’s little to no competition across the entire food supply chain, which has allowed big corporations to engage in a price gouging free-for-all.
Four companies control most food industries, allowing them to coordinate prices instead of compete on the basis of lower prices. I offered this graph to illustrate the problem (see above).
I urged that Harris announce that as president she’ll bust up food monopolies.
Well, I have it on good authority that on Friday she’ll announce a plan to prevent corporations in the food and grocery industries from unfairly jacking up prices on consumers.
She’ll call for the first-ever federal ban on corporate price-gouging in these industries.
