However, they are using their monopolistic power to influence the market away from competition and towards stagnant wages, higher prices, and lower quality. Checks and balances are for everyone.
Here I agree with you. Market competition doesn't exist in our current health care system which is why it's expensive and highly inefficient. The only thing it does well is removing money from the pocket of consumers. However, I often question if this is something that we should leave up to competition, because shortfalls in health will affect our nation's ability to compete with the rest of the world. But if wages were actually based on competition, I wonder if we would have that much of a health disparity. The problem we have right now is how do we deal with our current quagmire to move it towards something better? While I agree that true market competition needs to happen, I believe that needs to happen across all sectors including wages--but the only way for this to even begin to happen is either with worker protections or anti trust busting to get wages back into a competitive arena.
You know all of this worked so much better when being in congress was something someone did as their side gig. The founding fathers never meant for there to be a political class. I agree that we need to disband power structures, but I think this disbanding of power structures should not be limited to the government. Monopolies are just as insidious as banana republics.