Many argue that globalization requires large companies with economies of scale. The result can be market concentration, and reduced competition, leading to higher prices.
By comparing prices in Europe and the US, this article argues that higher prices are not the inevitable result of concentration but are a function of politics. Europe has much tougher competition policies — blocking mergers and reducing barriers to entry — than the US. There are example of how corporate lobbying (politics) in the US keep regulations weak and allow greater corporate concentration, pricing power, and profits.