E05: Trade Secrets of the Combines Detectives, part 2
In episode 5 of Monopolies Killed My Hometown, I actually get into the article, Trade Secrets of the Combines Detectives by Peter C. Newman from the May 24, 1958 edition of MacLean's Magazine.. Last week, in part 1, I mostly looked at the merger of Rogers Communications and MacLean Hunter. In this episode I share some about Peter C Newman's biography and history, and then I dive into the article.
I recap all the combines and price fixing agreements that the investigators found in the following industries: "oatmeal, fruits and vegetables, coffins, car accessories, matches, wire fencing, galoshes, quilted goods, eyeglasses, tires, flour, gasoline, bread, coal, cigarettes, toilet paper and false teeth."
Note: there are some transcription errors in the article, remember, 'hour' is probably 'flour'.
In the second half of the episode I think through the changes I'd like to see to the Competition Act and how we administer it. On the top of my list, I'd like to see us doing actual market studies and allowing the Commissioner to start investigations without a complaint being filed. On my wildest dreams list, I'd love to see provincial offices of the Competition Bureau be established to investigate smaller mergers and acquisitions that have an outsized impact on smaller regions of the Country. I want to make sure that our regional and local economies are working. We don't buy from the National economy, we buy from regional and local economies that build up to create the National economy.
Links from the episode:
- Peter C. Newman interview on The Hour with George Strombolopolous
- Brian Mulroney's response to Peter C Newman's "Secret Mulroney Tapes" Book - a joke from the Canadian Press Dinner in 2005
- Upper Canada College Alumni
- Bronfman Family
- The Time Jeff Bezos Went Thermonuclear on Diapers.com
- Illusion of Choice Report by American Economic Liberties Project
- Report of the Royal Commission on Price Spreads
- The State of Competition Policy in Canada: Towards an Agenda for Reform in a Digital Era, by Vass Bednar & Robin Shaban
