Open Thread - Thurs 06 June 2024 - Read and Watch!
Submitted by Sima on Thu, 06/06/2024 - 5:00am
Read and Watch
Recent Reads:
Matt Stoller recently wrote an article for the Guardian called 'Corporations are forcing Americans to pay more for less – in their own words'. It's worth a read; it dives into the proof that's available that the high prices (a very recent example, utility prices going up) and bad economy many of us are feeling are real, despite all the good stuff like more jobs, etc.
I wasn't at all surprised to learn that big business groups are conspiring/plotting through price-fixing to make us pay more on things like gasoline, housing, utilities, meat/food, hotels and more. I wish more people in power would pay attention to this, but that's a pipe-dream, isn't it?
Stoller concludes:
There are also a number of concrete steps policymakers can take to respond to this price-fixing.
The first is to arrest or sue the offending executives for criminal activity.
The second is to strengthen price-fixing and merger laws, allow more private class-action suits, force judges to speed up cases and increase the budget of antitrust enforcers to make collusion more difficult.
The third is to reform the Federal Reserve so policymakers there stop using macro-economic models that avoid considerations of profits and price-fixing.
And the fourth is, frankly, political. One key reason there is action on these schemes is because Biden has prioritized antitrust enforcement. He hasn’t put enough into antitrust, and he doesn’t talk about it very often. But he should, or else Americans are likely to fall into the trap of thinking that what is good for big business is good for their pocketbooks, when the opposite is so often the case.
