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, labor market power, including non-compete requirements for their employees, and substantial political power.  It is important to bring out that this harm involves the productive sector. Goods are being produced, but part of the income is from harmful activity. This is very often true–harmful activity is intertwined with productive. 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.

Harm through the market 2021

This tree has stood here for 500 years. Will it be sold for $17,500? Juliet Eilperin Photos and video by Salwan Georges Washington Post December 31, 2021

The worker revolt comes to a Dollar General in Connecticut Greg Jaffe Washington Post December 11, 2021
A call to a union triggers one of the most lopsided battles of the ongoing low-wage-worker revolt.

Starbucks baristas are on the verge of forming a union. The company is pushing back. Joanna Slater Washington Post November 23, 2021

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IMF: Fossil fuel subsidies $5.9 trillion or 6.8 percent of GDP in 2020

Still not getting energy prices right: A global and country update of fossil fuel subsidies Ian Parry, Simon Black, Nate Vernon International Monetary Fund September 24, 2021
Globally, fossil fuel subsidies were $5.9 trillion in 2020 or about 6.8 percent of GDP, and are expected to rise to 7.4 percent of GDP in 2025. Just 8 percent of the 2020 subsidy reflects undercharging for supply costs (explicit subsidies) and 92 percent for undercharging for environmental costs and foregone consumption taxes (implicit subsidies). Efficient fuel pricing in 2025 would reduce global carbon dioxide emissions 36 percent below baseline levels, which is in line with keeping global warming to 1.5 degrees, while raising revenues worth 3.8 percent of global GDP and preventing 0.9 million local air pollution deaths.