Category Archives: Harm through the market

Oligopolies and monopolies are very important ways of obtaining income without providing a productive service. They produce goods, a productive service. However, they receive additional income by raising prices, and their oligopoly/monopoly profits are distinguished by economists from normal profits and other expenses, which are the returns to productive activity. There are other harmful aspects to concentration and large firms as well, including restriction of innovation, using patents to defend market position, non-compete requirements for their employees, and substantial political power.  Also see Obtaining income from the government as both are often involved. Tax havens are another way in which taxes can be minimized and income from corruption can be laundered.

Cover of Predatory Value Extraction by William Lazonick and Jang-Sup Shin

Predatory Value Extraction by William Lazonick and Jang-Sup Shin

The economist who put stock buybacks in Washington’s crosshairs Sheelah Kolhatkar New Yorker June 20, 2019

Predatory value extraction James McRitchie Corporate Governance April 29, 2020 Comments William Lazonick Corporate Governance May 7, 2020 Comments Jang-Sup Shin May 5, 2020

Cover of Predatory Value Extraction by William Lazonick and Jang-Sup Shin

Oppression and Exploitation News April 30 – May 6

Harm through the market 2020

J. Crew files for bankruptcy in virus’s first big retail casualty Vanessa Friedman, Sapna Maheshwari and Michael J. de la Merced New York Times May 3, 2020
J. Crew was carrying a debt burden of $1.7 billion based on a leveraged buyout in 2011 by two private equity firms — TPG Capital and Leonard Green & Partners — even before the coronavirus brought clothing sales to a near-halt in its 181 stores, 140 Madewells and 170 outlets.

Oppression and Exploitation News April 16 – 22

Harm through the market 2020

How private equity firms squeeze hospital patients for profits Sheelah Kolhatkar New Yorker April 9, 2020

America can afford a world class health care system. Why don’t we have one? Anne Case and Angus Deaton New York Times April 14, 2020
Our system takes from the poor and working class to generate wealth for the already wealthy.

Struggle for control – staying in power 2020

New study says Trump has ‘dangerously undermined truth’ with attacks on news media Paul Farhi Washington Post April 16, 2010
See full report from the Committee to Protect Journalists.

Crime 2020

The coming crime wars Robert Muggah and John P. Sullivan Foreign Policy September 21, 2018
Future conflicts will mostly be waged by drug cartels, mafia groups, gangs, and terrorists. It is time to rethink our rules of engagement.