Tuesday, February 23, 2010

Yay for "Free" Market Monopolization

Barry C. Lynn and Phillip Longman wrote a great article on Who Broke America’s Jobs Machine? over at Washington Monthly. Their argument is that market monopolization across all sectors (Food, Banking, Retailing, Manufacturing, Pharmaceuticals, etc.) over the last few decades has been the major factor in destroying job creation. They acknowledge the other traditional explanations that may curtail job creation such as machinization/automation, outsourcing, lack of government R&D, and business taxes and regulation. However, the real issue is monopolization.

I'm glad they pointed out that business taxes and regulation were gutted over the last decade, so perhaps with this umpteenth example, we can finally put and end to the notion that tax cuts solve everything. Obviously, elected Republicans and talking heads will never get this as they tend not to live in the reality-based community.

Corporate consolidation and monopolization is nothing more than schadenfreude.

Such is the case that Andrew Johnson made in his first state of the union address.

“Wherever monopoly attains a foothold, it is sure to be a source of danger, discord, and trouble. We shall but fulfill our duties as legislators by according "equal and exact justice to all men," special privileges to none.”

No comments: