Subjects Archives: Monopoly

  • 'What a Rigged Economy Looks Like': Top 10% Now Own 77% of American Wealth

    Top ten percent now own 77% of the wealth

    The Federal Reserve released the 2016 version of the Survey of Consumer Finances today. I will be doing a lot of work with this data in the coming months. But for starters, here is a short post about overall wealth inequality.

  • Google Eye

    Google eyed

    The Hoover Company’s vacuum cleaners once so dominated its market that people often still describe using any make of vacuum cleaner as ‘hoovering up’. Similarly, people ‘Google’ information from the Internet, even if they do not use Google.

  • Romania US Troops Russia

    Amid deep cuts to social programs, Senate approves $700 Billion in military spending

    Where were the pundits and elected lawmakers who complain about the cost of providing healthcare to all Americans when the Senate voted to spend $700 billion on the military?

  • A man is silhouetted against a video screen with an Facebook logo as he poses with an Samsung S4 smartphone in this photo illustration taken in the central Bosnian town of Zenica, August 14, 2013. REUTERS/Dado Ruvic/File Photo.

    Facebook’s advertising machine

    The US market evidently has a powerful influence on social trends elsewhere in the world. It has been shown not only by the popularity among youth of wearing low-hanging trousers and baseball caps backwards—although, thankfully, these trends have, like, faded—but also by how a system designed for an elite US university, Harvard, could end up becoming the world’s largest social media site.

  • Amazon

    Amazon: becoming the market

    Amazon is an unusual company. With a market capitalization hitting $500bn at the end of July and no profit to show, it is not a company trying to be a part of the market, it is trying to become the market.

  • President Donald Trump signing the new Cuba policy

    US Cuba policy has been hijacked by Cuban-Americans

    US policy toward Cuba (Trump reverses Obama’s Cuba deal, limiting travel and trade, 17 June) has been hijacked by a clique of Cuban-American politicians, who have sold their support in Congress to President Donald Trump. Above all, these individuals – and Trump – have demonstrated the corrupt and clientelist nature of the US political system. Can such a system serve as a symbol of “freedom” to anyone in the world?

  • Toilet paper money roll

    The U.S. is where the rich are the richest

    In the U.S., where wealth is most highly concentrated, almost a quarter of income goes to the rich. So it should come as no surprise that a big chunk of the world’s richest call America home. Two out of five millionaires and billionaires live there, and their ranks are growing fast.

  • Capitalists Tipping Scales "Change"

    Finance, Crisis, and Stagnation

    In this presentation Mexie begins to elaborate the theory of monopoly capitalism developed by Paul Baran and Paul Sweezy, incorporating recent theoretical development by John Bellamy Foster and Robert McChesney. Mexie has produced a number of other videos on the topic as well.

  • Globalization chart

    Globalization and executive compensation

    Growing inequality has been one of the most salient features of the US economy over the last 40 years. A variety of explanations for this rapid growth in top incomes have been proposed, including growing firm size new technology, the market for superstars, poor governance, and changes in top tax rates.

  • World Economi Forum on Africa, May 2017

    South Africa’s business community has not stepped up honestly

    Prof Patrick Bond from the University of the Witswatersrand (Wits) tells Business Day TV why the World Economic Forum, which held its annual Africa meeting last week, serves the interests of the ruling elite at the expense of communities.

  • Corporate Profits

    What’s driving abnormal profit margins? Monopoly

    Why is the cause of abnormally high corporate profit margins in the US. The phenomenon is amongst other things upsetting the standard notion that profits are mean reverting to historic averages. Jeremy Grantham (of the global investment management firm, GMO) puts the cause down to three other factors: increased monopoly power, increased political power and increased brand power.

  • Workers at Whirlpool

    Monopolization and labor exploitation

    Those who advocate “freeing the market” claim that doing so will encourage competition and thereby increase majority well-being. These advocates have certainly had their way shaping economic policies. And the results? According to several leading economists, the results include the growing monopolization of product markets and the steady decline in labour’s share of national income. Neither outcome desirable.

  • May chce twardego Brexitu. Trump nie chce silnego dolara

    The Election of Donald Trump

    1. The recent election of Donald Trump after Brexit, the rise of fascist votes in Europe, but also and much better, the electoral victory of SYRIZA and the rise of Podemos are all manifestations of the depth of the crisis of the system of globalized neoliberalism. This system, which I have always considered unsustainable, is imploding before our eyes at its very heart. All attempts to save the system — to avoid the worst — by minor adjustments are doomed to failure.

  • Open Letter to San Francisco State University President Leslie Wong:Uphold the MOU with An-Najah University and Support Professor Abdulhadi!

    To add your signature to this open letter in solidarity, please sign at <bit.ly/2dtPmzP>. Open Letter to San Francisco State University President Leslie Wong: Uphold the MOU with An-Najah University and Support Professor Abdulhadi! Members of the Delegation with faculty and students from An-Najah University. In March 2016, nineteen of us were part of a […]

  • Berlin: An Omen for the 2017 German Federal Elections?

    There is currently too much dramatic news abroad in the world, mostly bad.  What can an election in one single city mean, far from most fronts?  Yet the voting in Berlin last Sunday (September 18th) was full of drama and meaning, also outside Germany.  The results caused some to grieve, some to applaud, and analysts […]

  • Brexit and the EU Implosion: National Sovereignty — For What Purpose?

    The defense of national sovereignty, like its critique, leads to serious misunderstandings once one detaches it from the social class content of the strategy in which it is embedded.  The leading social bloc in capitalist societies always conceives sovereignty as a necessary instrument for the promotion of its own interests based on both capitalist exploitation […]

  • Tunisia, As Expected

    Mass protests have returned in Tunisia, since the 20th of January, in Kasserine, then in Tunis, and in the rest of the country.  As expected, the pursuit of neoliberal policy by the so-called “national unity” government (ranging from Islamists of Ennahdha to leftists, including Bourguibists and survivors of the defunct Ben Ali regime) has not […]

  • What Would the KKE Do If It Were in SYRIZA’s Place?

    We often hear the following, well-intentioned question: “What would you have done if you had been in the place of the SYRIZA government?” The question is not illogical.  But we must put it in the right perspective. If we, the KKE, were in the “place” of SYRIZA, meaning the place of bourgeois management, the place […]

  • Why Greece Doesn’t Matter

      We have to stop talking about Greece.  What must emerge from the calamity of SYRIZA-ANEL is a renewed call for democracy. There is a scene in the 1972 political satire The Candidate where Robert Redford looks at the camera and quietly says, “Politicians don’t talk, they make sounds.” For the past five years Greece […]

  • Glory to the Lucid Courage of the Greek People, Facing the European Crisis

    The Greek People are an example to Europe and the world. With courage and lucidity the Greek people have rejected the ignoble diktat of European and international finance.  They have won a first victory by affirming that democracy cannot exist unless it knows how to put itself at the service of social progress.  They have […]