91–100 of 640 posts
More like "It's not a crime if a corporation does it." The US treats corporations with kid gloves. They get away with so much, and in those rare cases where a regulatory body does anything , it's often just a strongly worded letter, a warning, a threat to one day send a strongly worded letter, or, in really rare, extreme cases, a company official gets called in to say a few words in front of Congress. Nobody goes to…
Does anybody know whats stopping ethical and slightly less greedy companies from outcompeting these conglomerates? Its a question I keep coming back to because if the market were efficient then competitors should be able to use that same data to undercut big potato (or big whatever). This never seems to happen.
This is the way our world works. If you steal a potato, you will be arrested immediately and the case will be resolved in a few weeks or months. If you illegally fix the price of potatoes and steal billions from the market, you will be allowed to operate for years in the open while a lengthy civil procedure eventually may ask you to give 1 or 2% of what you stole back in fines. Don't blame the potato theives or potat…
Let's be honest hear. If you go to store and steal sack of potato. I doubt either the store or police will even attempt to track you anymore... Retail theft is just left to happen.
There are more of them nowadays, with guns prominently displayed. It feels like we're not far from a world where they stop bothering to chase them down and just start shooting them in the back.
I think you just have a nice neighborhood.
This is all a result of a lack of active market regulation. The government needs to step in actively to keep a free market from collapsing into one of the natural end states. But the US has consistently been far too passive and accepts greedy companies far too readily. If a single company can sell almost 100% of an essential good, they need to atomatically lose the power to set their prices and margins independently.…
This is the way our world works. If you steal a potato, you will be arrested immediately and the case will be resolved in a few weeks or months. If you illegally fix the price of potatoes and steal billions from the market, you will be allowed to operate for years in the open while a lengthy civil procedure eventually may ask you to give 1 or 2% of what you stole back in fines. Don't blame the potato theives or potat…
Let's be honest hear. If you go to store and steal sack of potato. I doubt either the store or police will even attempt to track you anymore... Retail theft is just left to happen.
Additionally, the amount of video and audio (and other data) recorded is increasing, not decreasing. As tracking technology gets more sophisticated, systems of identification, location, and retaliation will also get more sophisticated. Even automated.
I don't think it'll be too long before we'll have "arrest-a-thief" as-a-service.
It appears that the crux of the article is that a lot of price fixing is going on through the use of programs that suggest or encourage pricing among a few players, to the advantage of all the players and the disadvantage of the customer. Crackdowns do take time in the US but there is hope. See e.g.: https://www.justice.gov/opa/pr/justice-department-sues-realp...
The current administration, however, plans to let M&A run wild. Oligopolies don’t need an app for uncoordinated price fixing. The fact that there’s a cartel that controls 97% of the frozen potato market is wild . This will only get worse without breakups.
This is a weird and emotionally loaded statement. Properly stated, the top four frozen potato producers have 97% of the market share.
That doesn't sound odd? In a mature market with very little technology innovation (potatoes) and very little geographic specificity (frozen), how many companies would you expect? How many laundry detergent companies are there? How many cereal companies are there?
How was this different in the past, except going back to before the interstate highway system?
This is all a result of a lack of active market regulation. The government needs to step in actively to keep a free market from collapsing into one of the natural end states. But the US has consistently been far too passive and accepts greedy companies far too readily. If a single company can sell almost 100% of an essential good, they need to atomatically lose the power to set their prices and margins independently.…
All companies are greedy. That's the reason for existence. Your point that monopolies and oligopolies need to be crushed is very valid though. I wish more mergers were rejected in the first place.
Regulating prices is a recipe for disaster though.
This is the way our world works. If you steal a potato, you will be arrested immediately and the case will be resolved in a few weeks or months. If you illegally fix the price of potatoes and steal billions from the market, you will be allowed to operate for years in the open while a lengthy civil procedure eventually may ask you to give 1 or 2% of what you stole back in fines. Don't blame the potato theives or potat…
Earlier quoted context omitted.
Corporations are owned by people. Profit is distributed back to the society thru dividends. The largest shareholder category is pension funds, not billionaires. So effectively boomers are robbing younger generations.
I hate that ever since I was a teen in the 80's I've been encouraged by government policy to put my retirement into pension funds which invest in the stock market, thus justifying all manner of immoral and unethical business practices in the name of protecting pensioner savings. I am complicit in a rigged system with no escape.