I believe some corporations could become too powerful if allowed. If large corporations were given too much power they could change to United States as we know it. They could change the wages people are paid, the amount of hours people work, and the age of which they can start working, for instance child labor. I think large corporations need basic laws. I also believe large corporations are very important in our society. They provide many of the jobs over the whole world and they can make a mass amount of product a lot faster and cheaper than a smaller corporation. Some corporations take advantage of their size and try to buy out people and things unlike some of the smaller corporations or businesses that can not afford to do something that a large corporation can do. For instance, predatory pricing, which is illegal but do not always get caught. Predatory pricing is where a large corporation will lower a price on a certain product so low that they will be breaking even or losing money just to make a smaller competing business go broke because they can not buy in bulk or lose money on a certain product like a large corporation can. For an example, there was a case a few years back were Wal-Mart had bought a certain type of medicine in bulk and lowered the price so much that they were losing money to try and put a smaller local pharmacy out of business because they didn't want to have any competition. They ended up getting into trouble for predatory pricing.
Walmart Lawsuit
Dear Kalea,
ReplyDeleteOmg, this is so true. My mom says that Walmart has a hold on our wallets. They pretty much tell us what to buy, but in their own ways.
"I think large corporations need basic laws." This is also very true. Large corporations such as Walmart can get away with so much because of money, resources, and people are just afraid to mess with them.
"They ended up getting into trouble for predatory pricing." Holla atcha girl! Thank goodness they got in trouble. Im sure they deserved it.
Thanks for writting such an interesting blog. I learned a lot and I will continue to read up more on it.
oryx
Dear Kalea,
ReplyDeleteThis blog hits the nail on the head. Your so right, Corporations do have so much power now days. I agree with you 100% on the fact that corporations could change how we live all together.
You stated, " I think large corporations need basic laws." And, "I also believe large corporations are very important in our society." These quotes really stood out to me because mainly corporations do need to be held down by a basic law so they don't get too powerful. Not only that, but corporations are very important to our society because they do often give us what we need to survive such as: clothes, food, and transportation.
I really enjoyed reading your blog about corporations. I learned about how corporations use a tatic of using predtor pricing. I will continue to return to your blog.
Sincerely
Hummingbird,
Dear Kalea,
ReplyDeleteI love the topic! Corporations do whatever they can to get more consumers for their business. It's sad to see little local businesses being overrun and shut down.
I do think it's great that corporations are able to keep prices down lower for people who don't have the money to buy much. Their power to do this is frequently overuse. Wal-Mart is so willing to have the lowest prices that they will match the price of anything listing as a lower price than theirs.
I also think it's ridiculous that Wal-Mart would make their medicine price so low that they would lose money. It really isn't fair to competitors. How a small businesses supposed to compete?
Thank you for the interesting post. People need to take interst in who they are buying from and help out the small guys.
Springbok