In the Matter of Staples/Essendant, Inc., File No. 1810180 #03241

Submission Number:
03241
Commenter:
Susan Singh
State:
Oklahoma
Initiative Name:
In the Matter of Staples/Essendant, Inc., File No. 1810180
The trend towards larger and larger, multinational corporations is unsustainable. We call our system capitalistic, but it is well known that free trade is threatened by size and monopolies. Adam Smith hated monopolies and wanted them to be prohibited totally. Government agencies agreed with him and prohibited the merger of already large companies. Abandoning this sort of regulation has resulted in outsized behemoths that spend all their profits buying their own shares in order to increase the wealth of their executives, businesses with no interest at all in serving the public.