ABSTRACT
Have you ever wondered how unregulated market pricing is justified when a shrinking number of increasingly powerful firms dominate sector after sector of the national and world economies? Are you experiencing painful cognitive dissonance because the reigning economic paradigm continues to be based on perfectly competitive price-taking firms with no market power, even as the economic terrain appears to be increasingly following Marx’s prediction of ever rising concentration, if not centralization, of capital (Harrison 1994)?
