A fantastic article highlighting how deregulation has led to increased market concentration in the retail and food manufacturing sectors in the US and pretty much around the world. It can be argued that monopsony power can increase econonic welfare through reduced prices for the consumer and higher profits for the monopsonist, but at what expense? Depressed wages of the workers in the supply chain and possible reduced quality of products as suppliers attempt to cut costs.
Should government intervene and regulate the market to protect smaller businesses either competing or supplying the monopolist/monopsonist? Is it in the interests of countries like India to let the likes or Walmart and Tesco have free reign?
A good opportunity to develop your chains of analysis and evaluation points.