I work in the printing industry, which is about a $15 billion market in Canada, but it’s a shrinking market. The increasing move to digital content has led to many smaller printing companies closing shop or getting acquired by bigger corporations. In a recent discussion about stealing a multi-million dollar contract with a large crown corporation from our competitor, one Sales VP at my company was discussing how we don’t need to lower our prices because that competitor is not doing well financially. He explained that the crown corporation is looking for a more financially stable partner like us and the fact that the competitor may go under is “bad for humans, good for our business though!” This is the reality of monopoly capitalism: bigger corporations driving smaller companies out of business, acquiring them, and then shutting down plants, laying off hundreds of workers in the process. That is exactly what happened when my company acquired its biggest competitor a few years ago and they continue to push others out of the market, and they do so with a brazen attitude to boot. What’s good for business is indeed bad for humans.
– Anonymous
