RE: https://toot.wales/@gavin57/115748752423389729

3 billion dollars down the drain.

get rid of billionaires and break up companies worth the GDP of small countries.

#monopsony #capitalism #fascism #tech #microsoft

REMINDER:

#Disney owns #ESPN and still holds a controlling interest on #FOXSports, making it the defacto boss of USA’s sports broadcasting m̶a̶f̶i̶a̶ and the leader of the largest media #monopsony in the planet

“ESPN has dropped Spike Lee‘s forthcoming multi-part documentary series about former NFL quarterback Colin Kaepernick.”

h/t
https://universeodon.com/@jaykuo/115057557492487452

"The minimum wage in Mexico has more than doubled in real terms over the last six years. This is no small feat, especially if we take into account that the policy neither led to feared job losses nor price increases. This was partly because the Mexican minimum wage was well below those of other Latin American countries. With the latest increase, however, Mexico’s minimum wage is now greater than those in half of the region. Each successive increase has helped more people—in the first year, the increase benefited 13.3 percent of the formal labor force and by 2025 it benefited 37.4 percent, representing around 8.4 million workers.

With the radical shift in Mexico’s wage policy, these recent increases in the minimum wage—while translating into an average income growth of 25 percent in real terms and a significant decrease in poverty and inequality—have only begun to chip away at corporate power. The share of wages has only grown slightly, and the negligible increase in unemployment and inflation underscores drastic asymmetries in the relationship between employers and workers. The Mexican labor market is extremely monopsonistic, in part because there are relatively few large companies, but also due to poor labor law enforcement and weak unions. Common labor practices in Mexico allow firms to exercise more power to determine wages well below what they would be in a perfectly competitive market, which has led to the prevalence of high profits at the expense of working conditions.

Analyzing the historical evolution of the minimum wage in Mexico is fundamental to understanding how the Mexican wage policy has become a successful and innovative model. Its implementation has reduced poverty for millions of people and generated unprecedented growth in family income, defying traditional forecasts that linked minimum wage increases with uncontrolled inflation and unemployment."

https://www.phenomenalworld.org/analysis/mexico-minimum-wage/

#Mexico #MinimumWage #Poverty #PovertyReduction #Monopsony

Today I learned a useful new word:

#monopsony (n): the market condition that exists when there is only one buyer

❝ The Federal Trade Commission sued the largest U.S. distributor of wine and spirits—Southern Glazer’s Wine and Spirits, LLC (Southern)—alleging the company violated the Robinson-Patman Act, harming small, independent businesses by depriving them of access to discounts and rebates, and impeding their ability to compete against large national and regional chains. This loss of competition ultimately harms consumers on choice and price.

https://www.ftc.gov/news-events/news/press-releases/2024/12/ftc-sues-southern-glazers-illegal-price-discrimination

#greedflation #monopsony