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The big economic news this week has been the Federal Reserve’s decision not only to keep interest rates at their still super-low level, but to signal that they will stay there longer than previously indicated. This Fed dovishness has many economists and finance types indignant, since they believe that the American economy is amply strong […]
I’m sure that all of you out in RealityChek Reader-Land are familiar with the idea of lowering expectations, or “lowering the bar.” The standard justification for this practice is fostering greater realism about what’s possible in politics, business, sports and many other fields, and sometimes it’s essential. But of course it’s easily turned into an unjustified excuse […]
COULD LAND VALUE TAX BE THE ACHILLES HEEL OF CORPORATE RULE? Join us for a panel discussion on how grass-root organized resistance can hold corporate power in check. What happens when a multi-billion dollar transnational corporation faces organized resistance from residents in the city where it operates a major oil refinery? Richmond, California is a […]
In the late 1890s the problem was monopoly, so the Sherman Anti-Trust Act was enacted to counter manufacturing monopolies. Were Sherman alive today he’d say monopolies are still with us, except they don’t manufacture, they create services, but the real danger to society is from oligopoly, not monopoly, as the former sets the terms of their exploitation and obfuscation. You don’t need to go any further than today’s transparent oil industry price-gouging conundrum.
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