Beyond wage suppression, it feels like there isn't competition any more. Instead of one company undercutting another to offer a better deal, both or all just raise prices for maximum revenue extraction. For example telecom companies and cell phone plans in Canada. They know its an essential service and charge exhorbently for access, because what are you going to do, not have a cellphone? If every "mandatory for living" service (housing, medical, food, utilities, telecom,...) does that, what's left?