Jeff Bezos Adds Record $13 Billion in Single Day to His Fortune

[appalachiablue]

5. Bring back anti trust laws which Reagan began dismantling

Last edited Mon Jul 20, 2020, 09:08 PM - Edit history (1)

before it's all devoured. It's what happens when industry is unregulated, the predictable and dangerous pooling into monopolies.

"Monopoly Mayhem," Robert Reich, July, 2020

..As the federal government all but abandoned antitrust enforcement in the 1980s, American industry grew more and more concentrated. The government green-lighted Wall Street’s consolidation into five giant banks. It okayed airline mergers, bringing the total number of American carriers down from twelve in 1980 to just four today. Three giant cable companies came to dominate broadband. A handful of drug companies control the pharmaceutical industry.

> Today, just five giant corporations preside over key, high-tech platforms, together comprising more than a quarter of the value of the entire U.S. stock market. Facebook and Google are the first stops for many Americans seeking news. Apple dominates smartphones and laptop computers. Amazon is now the first stop for a third of all American consumers seeking to buy anything.

The monopolies of yesteryear are back with a vengeance. Thanks to the abandonment of antitrust, we’re now living in a new Gilded Age, as consolidation has inflated corporate profits, suppressed worker pay, supercharged economic inequality, and stifled innovation...

https://robertreich.org/post/623012667052949504