alt Hacker NewsThis is the long tail of monopoly and cartel power. We need a fundamental change in the _size_ of corporations. They're otherwise too big to regulate and changing expectations will achieve nothing.
This is the long tail of monopoly and cartel power. We need a fundamental change in the _size_ of corporations. They're otherwise too big to regulate and changing expectations will achieve nothing.
The problem is that in an unregulated capital system, money naturally flows uphill. The industrial revolution made this clear to everyone early on, and so we got anti-trust laws and progressive taxation. But over the decades, anti-trust laws have been weakened or left unenforced, and progressive taxation largely died in the 1980s. We need to reinvigorate these measures, and also look for more structural ways to counter-balance the advantage of capital over merit in our economy.