Sam Seder blames Capitalism for Baby Formula Shortage| (ft ConnorSays) Seder, Majority Report, WIC

Sam Seder mistakenly blames government programs for the current baby formula shortage on capitalism along with his Majority Report colleagues

The US is currently facing a crisis. And like any good crisis in America, you get to politicize it and demonize your opponents for any dishonest or whimsical reason you could find. I’m just glad Brexit is over. But in all seriousness, there has been a shortage of baby formula which was triggered by the shutdown of an Abbot Nutrition plant in Sturgis. With a 40% company market share and the plant controlling a fifth of the nation’s supply, American households have struggled to find infant formula to the point that 4 infants have sadly been hospitalized with 2 already dead. This is a symptom of a much larger problem where 4 companies that include Abbott and Mead Johnson control roughly 90% of the infant formula market. And it stems from a government nutrition program called Women, Infants and Children or WIC for short. More than half of American infant formula is through WIC with only 2 companies serving nearly 90% of infants. Right now emergency solutions instead of fixing long-term problems are prioritised. These companies actually bid for the contracts, with the lowest bidder getting the contracts lead to massive cost savings but both Abbott and Mead Johnson serve at least 40% of infants. The funny thing is that these companies lose money on formula sold through WIC. This is done through indirect economic effects such as spill overs which I will elaborate on later. There is dispute to whether these contracts led to the monopolies. But one study begs to differ. And…
Sam Seder: "Shut up you White Nationalist Steven Crowder fanboy! It's my turn."

Sources:
Original Video:
https://www.youtube.com/watch?v=zF95FLbnCYw
Politico Baby Formula Article
https://www.politico.com/news/2022/05/19/baby-formula-shortage-federal-contracts-00033581
USDA Study:
https://www.ers.usda.gov/webdocs/publications/44900/6918_err124.pdf?v=2700.9
European Regulation Atlantic Article:
https://www.theatlantic.com/ideas/archive/2022/05/baby-formula-shortage-abbott-recall/629828/
FDA Regulation Fortune Article:
https://fortune.com/2022/05/18/the-fda-could-easily-solve-the-baby-formula-shortage-by-allowing-more-imports-from-europe-march-furton/

#samseder
#babyformulashortage
#capitalism