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LIVE STREAM: Barry Lynn Discusses The New Monopoly Capitalism
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The New America Foundation is hosting a cocktail reception this evening featuring New America Foundation/Markets, Enterprise, and Resiliency Initiative Director Barry Lynn, who will discuss his new book, Cornered: The New Monopoly Capitalism and The Economics of Destruction.
Lynn's book traces the manic deregulation policies of the past 25 years that have facilitated unprecedented consolidation in almost ever sector of the American economy. He shows how "too big to fail" applies not only to banks but to many giant mega-firms that control vast swaths of our economy.
The event will run TONIGHT from 5:30 pm - 7:00 pm and will STREAM LIVE here at The Washington Note.
-- Ben Katcher
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Reader Comments (7) - post a comment
Kudos for hosting this discussion. It's long overdue. Shared monopolies sap economies of their innovation and dynamism, not to mention their propensity to engage in price gouging and lousy service. Their only upside is that they pay the lucky few very well.
It has been the Republicans stated goal to bring back the conditions of the '90s---the 1890's.
We're getting close. The latest Supreme Court decision could be what it takes to bring back those good old days. Oh, and Obama's bipartisan Gut and Cut commission for SS and Medicare will help, too.
You know, it's not possible to say that Obama is worse than Bush by a long shot, but he is very ineffective compared to Bush; Carter may even look better now.
What's the new theory? Nothing juices free market competition like massive government regulation?
Has anybody at the New America Foundation ever met a payroll? Seriously.
In case Nadine hasn't checked her dictionary lately, monopoly is the absence of market competition. Busting monopolies is one of the pillars of a free society, fostering competition, forcing companies struggle to meet payrolls, so that they innovate, add value, and cut costs to survive. Sometimes government intervention is the only way to protect free markets.
JohnH, does your dictionary give a definition for "rent-seeking"? It's what big businesses do when pleasing the politicians matters more to their profits than pleasing their customers. Think they pay the pols to permit new competitors arising?
My favorites are the Big Pharma tie ups, where R&D spending holds steady, if you're lucky, and spending on sales and marketing increases. No need to mention the people who lose their jobs. They certainly don't count.
Refresh my memory, when was the last time the Anti-Trust Division blocked a US merger?
"Rent-seeking." As usual, Nadine has it exactly backwards. It's politicians who answer to big business. They could care less about "pleasing politicians," because they own the politicians. That's how monopolies are allowed to grow and sap the American economy of its vitality.
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