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Such Developments Endanger Capitalism [FIGU Zeitzeichen SE 185]
https://figu.org/files/figu_zeitzeichen sonderausgabe/figu_zeitzeichen_sa_185.pdf
Such Developments Endanger Capitalism [FIGU Zeitzeichen SE 185]
VoicePods-Vivian:
Jan. 25, 2025 - English Source Articles from FIGU Zeitzeichen Sonderausgabe Number 185
InworldAi-Shaun:
Such Developments Endanger Capitalism
Published by Robert Reich on Substack; Infosperber
BestCartesiaVoice:
Super-rich people did not become wealthy through hard competition. Their success lies in corrupting the state. Extremely so in 2025 in the USA.
Robert Reich
Robert Reich was Labor Secretary under President Bill Clinton, Professor of Public Policy at the University of California, and currently publishes Inequality Media.
They hold a monopoly, engage in insider trading, pay bribes, extort a major investor, or inherit a massive fortune. In 2025, billionaires showed themselves to be particularly shameless. In the USA, corruption became especially obvious.
For many years I have warned that ever more national wealth is ending up in the hands of ever fewer people. In the United States, one single percent of the population owns half of all stock-market values and 40 percent of total wealth, while ten percent of the population controls 90 percent of all wealth.
Often I then hear: “That’s just the free market” or “Competition has decided that they deserve it.”
That is nonsense. There is no such thing as a free market. What is called a free market today is the result of political decisions — about monopolies, workers’ rights, private property, finance, trade, taxes, and more.
Behind these political decisions stands an increasingly small group of super-rich people who have secured themselves a disproportionately large influence on politics. They have created five ways to accumulate a billion dollars or more:
Did Jeff Bezos earn his billions because he founded and built Amazon? No. Amazon dominates nearly 40 percent of all e-commerce retail — a monopolist protected
#Capitalism #WealthInequality #Economics #Politics #Billionaires #RobertReich #Corruption #TaxTheRich #Monopoly #MarketManipulation #EconomicJustice #WealthTax #EndCorruption
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By https://figu.org/files/figu_zeitzeichen sonderausgabe/figu_zeitzeichen_sa_185.pdf
Such Developments Endanger Capitalism [FIGU Zeitzeichen SE 185]
VoicePods-Vivian:
Jan. 25, 2025 - English Source Articles from FIGU Zeitzeichen Sonderausgabe Number 185
InworldAi-Shaun:
Such Developments Endanger Capitalism
Published by Robert Reich on Substack; Infosperber
BestCartesiaVoice:
Super-rich people did not become wealthy through hard competition. Their success lies in corrupting the state. Extremely so in 2025 in the USA.
Robert Reich
Robert Reich was Labor Secretary under President Bill Clinton, Professor of Public Policy at the University of California, and currently publishes Inequality Media.
They hold a monopoly, engage in insider trading, pay bribes, extort a major investor, or inherit a massive fortune. In 2025, billionaires showed themselves to be particularly shameless. In the USA, corruption became especially obvious.
For many years I have warned that ever more national wealth is ending up in the hands of ever fewer people. In the United States, one single percent of the population owns half of all stock-market values and 40 percent of total wealth, while ten percent of the population controls 90 percent of all wealth.
Often I then hear: “That’s just the free market” or “Competition has decided that they deserve it.”
That is nonsense. There is no such thing as a free market. What is called a free market today is the result of political decisions — about monopolies, workers’ rights, private property, finance, trade, taxes, and more.
Behind these political decisions stands an increasingly small group of super-rich people who have secured themselves a disproportionately large influence on politics. They have created five ways to accumulate a billion dollars or more:
Did Jeff Bezos earn his billions because he founded and built Amazon? No. Amazon dominates nearly 40 percent of all e-commerce retail — a monopolist protected
#Capitalism #WealthInequality #Economics #Politics #Billionaires #RobertReich #Corruption #TaxTheRich #Monopoly #MarketManipulation #EconomicJustice #WealthTax #EndCorruption