The Formulaic Monopoly 0
In case you wondered, as I did, why there could possibly be a shortage of baby formula, Thom explains how it is a direct result of Ronald Reagan’s decision to stop enforcing anti-trust laws, which in turn has allowed one company to dominate the baby formula market. That company’s manufacturing defects and a resulting factory closure led directly to the current shortage.
And, because of the monopoly, there are no significant competitors to pick up the slack.
