A brilliant, enraging op-ed in the Washington Post from analysts from the New America Foundation and the American Antitrust Institute shows how the Reagan-era policy of encouraging monopolistic corporate behavior has made America unequal and uncompetitive, creating a horror Gilded Age where the Congressional consensus is that laws cannot possibly put a check on bad corporate actors.
It's another look at the problems set out in Matt Taibbi's brilliant book The Divide, tracing the policies that created both the private prison industry and banks so big that even the most depraved criminality can't be punished lest the bank tremble and collapse on wider society.
Particularly galling and illuminating is a quote from a Goldman Sachs report that advises investors to seek out "oligopolistic market structure[s]" where there's "lower competitive intensity, greater stickiness and pricing power with customers due to reduced choice" as the ideal way to maximize your return on capital.
While dwindling competition hurts the vast majority of Americans, for the well-off it often proves a path to huge payoffs. Indeed, it has even become a basic formula for successful investing. Goldman Sachs in February published a research memo advising investors to seek out “oligopolistic market structure[s]” in which “a smaller set of relevant peers faces lower competitive intensity, greater stickiness and pricing power with customers due to reduced choice, scale cost benefits including stronger leverage over suppliers, and higher barriers to new entrants all at once.” Goldman went on to highlight a few markets, including beer, where dramatic consolidation over the past decade has enabled dominant companies to use their market power to extract more from suppliers and consumers — and thereby enrich investors.
How America became uncompetitive and unequal [Lina Khan and Sandeep Vaheesan/Washington Post]
Online retail giant Amazon just launched a marketplace for handcrafted goods: Handmade at Amazon. It’s “an arts-and-crafts bazaar online that squarely takes aim at a niche but growing market dominated by the Brooklyn-based Etsy,” as the New York Times puts it. Handmade at Amazon went live early Thursday more than 80,000 items from roughly 5,000 […]
Umbracity aims to solve the problem of unexpected urban showers with a shared-umbrella service. They’ve rolled it out in soggy Vancouver, and the deal is that you get to use an umbrella from any of their kiosks for free for 48h, but if you keep it longer, it’s $2/day to a maximum of $20.
The Nameless Coaltion, a global alliance of women’s groups, LGBTQ groups, human rights and digital rights groups has asked Facebook to abandon its “Real Names” policy, which puts Facebook users in danger of reprisals including state violence, stalkers, and on-the-job harassment.
Watching Netflix, Hulu or other streaming services can unfortunately be difficult while traveling outside the US. Rather than bypass these restrictions with the help of a complex and slow VPN, choose a faster and simpler solution with Getflix. Instead of rerouting all your Internet traffic through a different server, this handy service only routes the […]
Shake, stir, and muddle your way to delicious homemade cocktails with this must-have bar set. Expect only the finest quality tools from MakersKit — enabling you to unleash your inner mixologist.Top 12 Favorite Things of 2014, Sunset MagazineQuart-size vintage-style Mason jar shakerRetro double jigger for accurate measurementsStrainer & spouts for a mixologist-style smooth pourHardwood muddler […]
The Lytro Illum dares to be different, boasting even more robust features than its first generation predecessor and a sleek design reminiscent of professional DSLRs. What’s so cool about it? Most cameras capture the position of light rays, producing a statoc 2D image.