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More on the negative consequences of monopolistic pricing
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ADM is the poster child for corporate misconduct. they have seen a legislature for sale and have taken full advantage of the politician's natural propensity to be corrupted. <br /> <br />now before using adm's sorry example as an attack on free markets: are all of adm's customers, farm suppliers, employees, etc. without any form of moral stain? or do they practice their own less public immoralities? i do not mean to be glib. my point is that criminal behavior should be prosecuted as criminal behavior and should not be used as an excuse by critics to taint economic behavior. we all, customers, farmers, employees, function as economic animals when ever we enter into financial exchange of goods and services. the fact that a man may have struck his wife, or embezzeled from his employer is a fine reason for him to be imprisoned, but no reason at all to deny him the right to buy at the lowest price and sell at the highest price when he engages in commerce. <br /> <br />bread wheat costs less than $3.50 per 60lbs. basis the minneapolis grain exchange, with quality premiums maybe in the $4.00 range for 60 lbs. yesterday i paid $2.09 for 1lb and 40z. that's a shocker, but i remind myself that throughout every step of that supply chain of middlemen from farmer to store shelf every single person is competing for the business by negotiating the best possible set of terms that they can. if they could get a bit more of the volume of business away from their competitor by shaving a hair off the price of their product or service they would have done so in a heartbeat. <br />unhindered economic ingenuity is my best chance at obtaining the lowest price from sellers. <br /> <br />my alternative is to have the post office do the job of providing the finished loaf....turn my welfare over to a group of hard working people harnessed by an intractable bureauracy and a corrupt political oversight.
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