Is the US free market dead?

[kallend 2,027]

Excerpt:

"Figuring out why has become a core part of Philippon’s academic research, and he offers his answer in a fascinating new book, “The Great Reversal: How America Gave Up on Free Markets.” In one industry after another, he writes, a few companies have grown so large that they have the power to keep prices high and wages low. It’s great for those corporations — and bad for almost everyone else.

 

 

Many Americans have a choice between only two internet providers. The airline industry is dominated by four large carriers. Amazon, Apple, Facebook and Google are growing ever larger. One or two hospital systems control many local markets. Home Depot and Lowe’s have displaced local hardware stores. Regional pharmacy chains like Eckerd and Happy Harry’s have been swallowed by national giants.

Other researchers have also documented rising corporate concentration. Philippon’s biggest contribution is to explain that it isn’t some natural result of globalization and technological innovation. If it were, the trends would be similar around the world. But they’re not. Big companies have become only slightly larger in Europe this century — rather than much larger, as in the United States."

 

 

https://www.nytimes.com/2019/11/10/opinion/big-business-consumer-prices.html?action=click&module=Opinion&pgtype=Homepage&te=1&nl=david-leonhardt&emc=edit_ty_20191111%3Fcampaign_id%3D39&instance_id=13776&segment_id=18695&user_id=ca24d8cbef60603e22e6b56f4ff89857&regi_id=89442825&fbclid=IwAR0pm9saPQhxWozTgFbhD5Sl46U4_tv-6VPYSCxL0rscROtEzxHzf3WgYyI

[Coreece 190]

"Copying and pasting the words of somebody else is not a conversation. 

At the very least, the person should make a comment in relation to the wall of text they've copied and posted so we know where the poster himself stands in relationship to it. Give it some context so you aren't simply acting as a copy and paste meat robot on behalf for some PR firm, lobbying group, or news site."

[gowlerk 2,192]

41 minutes ago, Coreece said:

"Copying and pasting the words of somebody else is not a conversation. 

At the very least, the person should make a comment in relation to the wall of text they've copied and posted so we know where the poster himself stands in relationship to it. Give it some context so you aren't simply acting as a copy and paste meat robot on behalf for some PR firm, lobbying group, or news site."

So then, you make a comment that is nothing but a copy and paste? In this case I'm pretty sure I know " where the poster himself stands in relationship to it". Where do you stand on it? Personally it is something I have long been aware of by my own observation and am not comfortable with, although in many cases these huge companies are very efficient and therefore potentially offer the best possible value to their customers.

Edited November 11, 2019 by gowlerk

[kallend 2,027]

8 hours ago, Coreece said:

"Copying and pasting the words of somebody else is not a conversation. 

At the very least, the person should make a comment in relation to the wall of text they've copied and posted so we know where the poster himself stands in relationship to it. Give it some context so you aren't simply acting as a copy and paste meat robot on behalf for some PR firm, lobbying group, or news site."

I don't really wish to have a conversation with YOU anyway.

[brenthutch 444]

That is why the regulatory state is so nefarious, the big corporations have a seat at the table and help shape regulations in a way to eliminate the competition. 

Edited November 12, 2019 by brenthutch

[yobnoc 142]

1 hour ago, brenthutch said:

That is why the regulatory state is so nefarious, the big corporations have a seat at the table and help shape regulations in a way to eliminate the competition. 

What you mentioned are two separate things.  Regulations aren't inherently bad.  It is bad if the boards are full of conflicts of interest.  There's also a problem that antitrust laws haven't been really applied in good faith in a long time.

[billvon 2,991]

4 hours ago, brenthutch said:

That is why the regulatory state is so nefarious, the big corporations have a seat at the table and help shape regulations in a way to eliminate the competition. 

I think Boeing is currently wishing that the "regulatory state" had slightly bigger teeth when Trump was helping them streamline the 737MAX certification proess.

[brenthutch 444]

The vast majority of the certification process was done under the Obama administration.  Trumps appointee was not emplace until June 2017, three month AFTER the certification by the Obama lead FAA. 

[brenthutch 444]

8 hours ago, yobnoc said:

What you mentioned are two separate things.  Regulations aren't inherently bad.  It is bad if the boards are full of conflicts of interest.  There's also a problem that antitrust laws haven't been really applied in good faith in a long time.

I was referring to regulations that create barriers to entry and quash competition.

[JoeWeber 2,720]

5 minutes ago, brenthutch said:

The vast majority of the certification process was done under the Obama administration.  Trumps appointee was not emplace until June 2017, three month AFTER the certification by the Obama lead FAA. 

Fucking Obama. Meddling away in the FAA, as if it's O.K, and I just gotta say, it's a whole new day, and it makes me say yay, cause it's our turn to play!

[billvon 2,991]

4 hours ago, brenthutch said:

The vast majority of the certification process was done under the Obama administration.  Trumps appointee was not emplace until June 2017, three month AFTER the certification by the Obama lead FAA. 

Yep.  Which is the process that Muilenburg was complaining about.  They were making very slow progress (those damn regulators asking questions about the MCAS!) until Trump came along and "streamlined" things.  From a 2017 press conference by the Boeing CEO:

"The administration has been very engaged across government agencies and with industry to find ideas and ways and opportunities to simplify and streamline. Things like FAA certification processes is one place that we’re seeing some solid progress.  That’s helping us more efficiently work through certification on some of our new model aircraft, such as the Max, as it’s going through flight test and entering into service.”

How'd that "simplified and streamlined" pro-business approach work for them?

[SkyDekker 1,465]

15 hours ago, brenthutch said:

That is why the regulatory state is so nefarious, the big corporations have a seat at the table and help shape regulations in a way to eliminate the competition. 

From the same people who are convinced only a business man can help America.

[jakee 1,489]

21 hours ago, brenthutch said:

That is why the regulatory state is so nefarious, the big corporations have a seat at the table and help shape regulations in a way to eliminate the competition. 

Only in America could the answer to the problem “nefarious corporations are trying to shape regulation to their benefit” be “get rid of regulation and let them do whatever they want”.

[DJL 235]

16 hours ago, jakee said:

Only in America could the answer to the problem “nefarious corporations are trying to shape regulation to their benefit” be “get rid of regulation and let them do whatever they want”.

The idea that corporations want to eliminate regulation is laughable.  What they mean is that they want to control the regulations.  They love those regulations that let pharmas control a patent and crank the cost through the roof or the ones that let them hold employees to 30 hours so they don't have to pay benefits.

Edit: This area is actually Elizabeth Warren's biggest strength and asset in her campaign but instead she's going for the "free shit" angle and shot herself in the foot.

Edited November 13, 2019 by DJL

[kallend 2,027]

1 hour ago, DJL said:

The idea that corporations want to eliminate regulation is laughable.  What they mean is that they want to control the regulations.  They love those regulations that let pharmas control a patent and crank the cost through the roof or the ones that let them hold employees to 30 hours so they don't have to pay benefits.

Edit: This area is actually Elizabeth Warren's biggest strength and asset in her campaign but instead she's going for the "free shit" angle and shot herself in the foot.

Ah, big pharma.

Every time I visit Mexico for a scuba trip, I marvel at the number of pharmacies in the towns like Cabo or Cozumel  selling drugs to tourists at a fraction of their cost in the US, and their storefront signs are all in English.

[brenthutch 444]

8 hours ago, kallend said:

Ah, big pharma.

Every time I visit Mexico for a scuba trip, I marvel at the number of pharmacies in the towns like Cabo or Cozumel  selling drugs to tourists at a fraction of their cost in the US, and their storefront signs are all in English.

Not only the pharmacies, the taxi drivers as well.