Now, Yves Smith's Fed Economists Finger Monopoly Concentration as Underlying Driver of Neoliberal Economic Restructuring; Barry Lynn in Harpers and Fortnite Lawsuit Put Hot Light on Tech Monopoly Power covers three developments in the emerging anti-monopoly consensus:
- Apple and Google ganging up on Epic Games.
- Lina M. Khan's ex-boss Barry Lynn's The Big Tech Extortion Racket: How Google, Amazon, and Facebook control our lives.
- Market Power, Inequality, and Financial Instability by Fed economists Isabel Cairó and Jae Sim
they developed a model to simulate the impact of companies’ rising market power, in conjunction with the assumption that the owners of capital liked to hold financial assets (here, bonds) as a sign of social status. They wanted to see it it would explain six developments over the last forty years. ... And it did!Follow me below the fold for the details.