Robert ReichLet the latest Ticketmaster fiasco serve as a crucial reminder: We must revive antitrust law and stop the monopolization of America. Now.
The Monopolization of America | Robert Reich
Renee Marlin-BennettRobert Reich @[email protected] on the consequences of #capitalism without guardrails and the empirical evidence disproving expectations of Chicago School #trickledowneconomics. We *need* #antitrust b/c capitalism w/o guardrails is nothing more than winner-take-all private #rentierism. (Rentierism = profits above what a well functioning market would allocate. Profits from #pricegauging," for example, are an example of this kind of "economic rent.")
https://youtu.be/KLfO-2t1qPQ
https://youtu.be/KLfO-2t1qPQ
The Monopolization of America | Robert Reich
Examples: Oil companies using the opportunity of tighter supplies in the pipeline to skyrocket prices immediately even though current supply levels were adequate." Monopolies can manipulate prices at will. Oligopolies can, too: Signaling with price changes takes the place of actual f2f collusion.