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UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

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Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#51

Post by microcolonel »

jnordwick wrote: post #32

Why isn't the conclusion that the political systems are too powerful then? Regulatory capture and IP issues are the fault of a political system that can wield too much power. The limited government people would seem to have a strong case that power should be removed from the political system since it is so easily corrupted. I don't quite understand how the answer to a political system easily manipulated is to make it…

This is the UN speaking, I don't think they're allowed to consider conclusions like that.

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#52

Post by [deleted] »

sitkack wrote: post #33
b4lancesh33t wrote: post #2

Maybe . . . It's not intellectual property that keeps internet companies at the top of the pile, for the most part, unless we are counting trade secrets and domain names as intellectual property (and they are in a sense, but not the sense that requires a government to create an artificial market for them).

Not often addressed in the largest of internet companies is how little the pay for bandwidth and transit. Google literally pays ZERO for internet access in either direction since they bought so much fiber in late 90s early 2000s. This is how they can run search (both directions) and youtube.

[deleted]

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#53

Post by dnautics »

djrobstep wrote: post #20
b4lancesh33t wrote: post #2

Maybe . . . It's not intellectual property that keeps internet companies at the top of the pile, for the most part, unless we are counting trade secrets and domain names as intellectual property (and they are in a sense, but not the sense that requires a government to create an artificial market for them).

All markets are "artificial". Intellectual property is no different to other forms of property in this regard. Both require a government to enforce the laws that create them.

If someone scams me on Bitcoin, what government can I appeal to have the laws enforced on the transaction?

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#54

Post by WalterBright »

Mz wrote: post #49
WalterBright wrote: post #47

Earlier quoted context omitted.

I can take a photo, post it on reddit, and get instant worldwide distribution. So can anyone else. https://www.reddit.com/r/pics/ There's a long list of such platforms anyone can upload pictures to. Or they can make their own websites. Anyone can do this. Sorry, I don't see any "choke point".

But, you don't make money that way. He is talking about selling photos, not giving them away.

Seems to me that having so many people taking and publishing photographs driving the price to zero is the literal opposite of choke points and concentration of market power.

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#55

Post by hippich »

programmingpol wrote: post #36

As a Republican elected official in a southeastern state, I have a front-row seat to what this article points at. The road construction industry used to be a great opportunity for small business people to create for themselves a substantial income. These days, all the companies in our area are owned by conglomerates, backed by billion dollar financial institutions. If you were to risk a million or two or an asphalt p…

So problem, as I understand, is that it requires significant amount of capital to get going for independent company, and they might go under if big company cut them. And the big companies undercut independent ones so later they could raise price.

So I had this question - what if state would commit to 10-20 years worth of contracts with some kind of locked in rate (adjusted for inflation or something), not just one off contract? This way independent company would have more motivation to do major capital investment, and big companies will not be able to undercut small players on one off job, only to get all next ones for 20% more..

Hopefully this makes sense.

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#56

Post by [deleted] »

WalterBright wrote: post #54
Mz wrote: post #49

Earlier quoted context omitted.

But, you don't make money that way. He is talking about selling photos, not giving them away.

Seems to me that having so many people taking and publishing photographs driving the price to zero is the literal opposite of choke points and concentration of market power.

[deleted]

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#57

Post by KGIII »

programmingpol wrote: post #50
KGIII wrote: post #43

Earlier quoted context omitted.

15-20% over the proper amount, above and beyond their normal profit. That's not all that unusual in that space. I worked in a field closely tied to the industry. I'm amazed it functions as well as it does.

That estimate is based on the fact that since the last true independent company in our area was bought out by the big guys, prices for all subsequent jobs rose 15% - 20%. I'm all for business making as much profit as possible. I'm not against profit, I'm against predatory pricing that limits competition.

Oh, I understand. I didn't help this problem. I sold my traffic modeling company to a larger group. It's a lucrative industry, even without gouging.

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#58

Post by gcb0 »

programmingpol wrote: post #36

As a Republican elected official in a southeastern state, I have a front-row seat to what this article points at. The road construction industry used to be a great opportunity for small business people to create for themselves a substantial income. These days, all the companies in our area are owned by conglomerates, backed by billion dollar financial institutions. If you were to risk a million or two or an asphalt p…

some places have laws were one govt contact can't be more expensive than the previous similar job. if there are no bidders, the posting should remain open for a long time (12months here).

doesn't solve everything, but the intent of those laws is to make that harder.

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#59

Post by fny »

programmingpol wrote: post #36

As a Republican elected official in a southeastern state, I have a front-row seat to what this article points at. The road construction industry used to be a great opportunity for small business people to create for themselves a substantial income. These days, all the companies in our area are owned by conglomerates, backed by billion dollar financial institutions. If you were to risk a million or two or an asphalt p…

Your problem is that big business has conflated free-market capitalism with the right to monopoly and convinced your constituency that anti-trust regulation is destructive to a free market when, in truth, oligopoly leads to corruption of the free-market and a farce of capitalism.

You need to work on educating your citizenship gradually until they understand the conditions wherein capitalism actually works. That way they might see why breaking up big busines and preventing M&A is often the Right Thing™️ and conservative to do.

Re: UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

#60

Post by Gustomaximus »

This is a super interesting. 2 interesting bits of history I feel people need to consider on this topic;

Firstly in my limited discussions I'm surprised how many people fail to recognise economic equality the west see's today is not normal. It's a ~70 year blip in 5,000 years of history that was heavily manufactured to be this way. Not a result of 'capitalism' as many people I've seen discussing this like to say. As 50 years ago most western countries had more government managed economies than today.

And more interestingly, I wonder how society will react under democracy assuming we move to the historic norm of increased wealth inequality. As democracy in terms of masses having the vote is only about 100 years old. Less for other non-white backgrounds. As before this voting was restricted to land owners and men.

Anyway I would think democracy would act as a pressure value but maybe not. Have a look at this list for how things played out over the years;

https://en.wikipedia.org/wiki/Timeline_of_labor_issues_and_e...

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