Monopsony is when there is a region where there is only one buyer for things, such as a town with a single corporation which “buys” labor time from the people by employing them. In a market like that, where there is only one place to “sell your goods” (your labor), there is deadweight loss and you can get screwed-over, royally.
Dr. Robert Malone recently posted an essay by Jeffrey Tucker about the U.S. government becoming the primary consumer in the U.S. economy. When corporations work primarily for the government instead of the people, prospects dry up and you enter a cycle that leads through poverty and into war, as depicted here.
The U.S. (federal) government takes in proper revenue in the form of taxes but it also takes in improper revenue — where it acts as a “market participant” by engaging in economic activity through the use of “other people’s money.” Here is the proper revenue of the federal government:
The tax receipts of the federal government amount to 12% of GDP. If the federal government only engaged in proper revenue, and if it did not live beyond its means, then the federal government spending would be 12% of GDP also. But by improperly acting as a market participant, the federal government acquires a total of 16% of GDP:
This graph is for total federal receipts, proper and improper ones. Even still, if the federal government did engage in improper market activity, but at least chose to live within its means, then the federal government spending would be 16% of GDP. But even that is not the case, because the federal government spends 24% of GDP:
Because the federal government cannot bring itself to limit spending to the amount of revenue that it takes in, annual deficits occur:
Because those annual deficits have been a constant finding for all of the third millenium (because the U.S. government is so large and obtrusive now), they have the effect of progressively burdening the nation with national debt:
This persistent upward trend in debt will eventually create a sovereign debt crisis. The solution is to downsize the federal government, making it smaller and unobtrusive (like it was in the 1920s) — because that makes most economic actions economic (where private sector participants are making nearly all decisions).
But the largest market participant in the U.S. economy is now the total government, spending 35% of the GDP:
You cannot prosper as a nation when the government is spending 35 cents of every dollar, and where the federal government only pays for 16 of each 24 cents of spending, putting the other 8 cents on a “credit card” — and/or printing it, outright. When 8% of your GDP is borrowed or printed into existence, then you are not well off.
Cycles of growing debt and inflation are all that you will have to look forward to, until a breaking point is reached.
"Cycles of growing debt and inflation are all that you will have to look forward to, until a breaking point is reached."
Your conclusion is inescapable, and "until a breaking point is reached" is a caveat underlying all of human behavior, a universal truth.