Monsanto A Modern Day Monopoly

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Monsanto a Modern Day Monopoly

Monopoly, generally known as a fun board game, but in the business world being a monopoly means power. They are illegal in the United States and there are laws and regulations that companies must follow in order to prevent a monopoly from occurring. Monopolies are prevented due to the fact that they have exclusive power of a good or service, allowing to hold on to their product and increase the prices to whatever is desired. It also makes it hard for entry of competitors into the specific market. Even though monopolies are generally prohibited, there have been claims that Monsanto is an monopoly in the GMO [Genetically modified organism] market because Monsanto is the leading power in the production of GMO
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corn and soybean production. By creating laws and regulation, it prevents having few companies control the production of good to distribute. Even with all the regulation few companies will still manage a monopoly. Companies like Monsanto with very few competitors find their way into controlling the majority of goods. Monsanto is a multi-billion dollar corporation that claims to “help farmers produce food in a sustainable way” (Monsanto n.p.). The company indeed follows through with this claim, but that is not all. Monsanto is a multinational agrochemical and agricultural biotechnology corporation and is the leading producer of genetically modified seeds. These seeds are given GMO, which means “genetically modified organisms.” GMO’s protect the crop from weather, insects, birds, etc and allow them to grow faster to feed america 's growing population. Monsanto and three other seed companies DuPont/ Pioneer, Syngenta, and Dow AgroSciences own 80 percent of the U.S. corn market and 70 percent of the soybean business. They also control more than half the world 's seed supply.(Roseboro, n.p.) This does not make Monsanto a monopoly because they have a competitor 's. This is called is a oligopoly. What makes them a monopoly is that the company has an agreement with DuPont. In the article Monsanto Has Created the World 's Largest GMO Monopoly by Ethan
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