The family of Canadian billionaire businessman James K. Irving has announced his death at the age of 96, just over a month after the death of his younger brother, Arthur.
It’s even worse than vertical integration. It’s just one family, owning theoretically-competing businesses with extreme combined marketshare. That one family rakes in all the profit while the workers are subject to the usual predations of capital. The Irvings are worse than a mob family. The Irvings can do what mob families aspire to do, but the Irvings can do it openly and legally.
It’s even worse than vertical integration. It’s just one family, owning theoretically-competing businesses with extreme combined marketshare. That one family rakes in all the profit while the workers are subject to the usual predations of capital. The Irvings are worse than a mob family. The Irvings can do what mob families aspire to do, but the Irvings can do it openly and legally.