Hi Matt, this is good and well but the nature of capitalism has shifted given that the industrial base has left to China and the financial base is now the driver of the economy.
What would reinvigorating these older bodies of government that were built to solve 19th century problems do in the long run? The derivatives market is currently sitting at 1 quadrillion and basically has attached all the money in the world to a massive tulip bulb, what solution do we have to this new problem?
The history of Monopolies gives me great comfort. I love that we have had these problems in the past and over come them...
Getting the public to care, i think, revolves around linking breaking up these monopolies to higher wages. When media can link the two i think voters will start caring a lot more. No?
Hey Matt, great article as always. I wanted to get your thoughts on the state of monopolies in Canada. The grass is clearly not greener north of the border, with 2/3 telecommunication companies controlling the entire market and monopolies existing across the entire supply line. The same is present in almost every industry in the country.
"Antitrust Isn’t the Solution to America’s Biggest Tech Problem" by Bhaskar Chakravorti (Harvard Business Review) suggests anti-trust efforts in the US is too slow and fails. His defence of Big Tech (as I understand him) is to allow them to cooperate to make life easier for users. This seems an extraordinary case to make. To me the real problem is outlined by Shoshonna Zuboff in 'The Age of Survellance Captialism', but I will not side-track the matter at hand. What surprises me was Chakravorti's argument that the attempt to end the Bell Telephone dominance failed (in the 1950s). Please correct me if I misunderstand, but I thought Bell (ATT) was broken up in 1982. to me that is interesting because Eekhout, I understand ('The Profit Paradox' - I have not yet read it) identifies the shift toward monopoly power in profits began around 1980; so when people might have seen the 1980s through the Bell anti-trust success as the triumph of neoliberalism (Reagan/Thatcher), this actually marked out the end of an era of competition. Neoliberalism from 1980 has become the Aage of Monopoly and Survellance.
Hey Matt - Monopolies is not a good word because the real problem is probably more with oligopolies. Which is the best word of the two in your view to get the publics attention.
While the appointment of Lina Khan can be celebrated as a major shift in tone from an otherwise centrist administration, once Amazon or corporatist politicians on the left start feeling the heat, I predict every racial or social flare-up, and the scrutiny of Khan’s response to these incidents, will used as a tool to defenestrate Khan’s authority over concentrated power. The same script used on Leland Olds might play here, replacing Olds’ supposed communism with Khan’s supposed insensitivity.
Hi Matt, this is good and well but the nature of capitalism has shifted given that the industrial base has left to China and the financial base is now the driver of the economy.
What would reinvigorating these older bodies of government that were built to solve 19th century problems do in the long run? The derivatives market is currently sitting at 1 quadrillion and basically has attached all the money in the world to a massive tulip bulb, what solution do we have to this new problem?
The history of Monopolies gives me great comfort. I love that we have had these problems in the past and over come them...
Getting the public to care, i think, revolves around linking breaking up these monopolies to higher wages. When media can link the two i think voters will start caring a lot more. No?
Hey Matt, great article as always. I wanted to get your thoughts on the state of monopolies in Canada. The grass is clearly not greener north of the border, with 2/3 telecommunication companies controlling the entire market and monopolies existing across the entire supply line. The same is present in almost every industry in the country.
Apologies for the spelling and grammatical 'bloopers' below. The failings of haste. Mea Culpa.
"Antitrust Isn’t the Solution to America’s Biggest Tech Problem" by Bhaskar Chakravorti (Harvard Business Review) suggests anti-trust efforts in the US is too slow and fails. His defence of Big Tech (as I understand him) is to allow them to cooperate to make life easier for users. This seems an extraordinary case to make. To me the real problem is outlined by Shoshonna Zuboff in 'The Age of Survellance Captialism', but I will not side-track the matter at hand. What surprises me was Chakravorti's argument that the attempt to end the Bell Telephone dominance failed (in the 1950s). Please correct me if I misunderstand, but I thought Bell (ATT) was broken up in 1982. to me that is interesting because Eekhout, I understand ('The Profit Paradox' - I have not yet read it) identifies the shift toward monopoly power in profits began around 1980; so when people might have seen the 1980s through the Bell anti-trust success as the triumph of neoliberalism (Reagan/Thatcher), this actually marked out the end of an era of competition. Neoliberalism from 1980 has become the Aage of Monopoly and Survellance.
Hey Matt - Monopolies is not a good word because the real problem is probably more with oligopolies. Which is the best word of the two in your view to get the publics attention.
Great article by the way
While the appointment of Lina Khan can be celebrated as a major shift in tone from an otherwise centrist administration, once Amazon or corporatist politicians on the left start feeling the heat, I predict every racial or social flare-up, and the scrutiny of Khan’s response to these incidents, will used as a tool to defenestrate Khan’s authority over concentrated power. The same script used on Leland Olds might play here, replacing Olds’ supposed communism with Khan’s supposed insensitivity.
Great article. Thanks so much!
that explains the dip in the market this week :).
Well, at least in my holdings <g>