Since the 1970s, America’s antitrust policy regime has been weakening and market power has been on the rise. High market concentration—in which few firms compete in a given market—is one indicator of market power. From 1985 to 2017, the number of mergers completed annually rose from 2,308 to 15,361 (IMAA 2017). Recently, policymakers, academics, and

Editor’s Note: On August 15, 2018, Senator Elizabeth Warren (D-MA) introduced the Accountable Capitalism Act, legislation that would require corporations to consider the interests of all stakeholders within the firm—not only shareholders—in company decisions. Corporations are made up of a wide range of stakeholders: workers, managers, executives, and shareholders. Currently, only executives and shareholders have the

Banks today are increasingly consolidating branch locations, while also moving away from low-cost financial services to high-profit activities, leaving marginalized Americans underserved and left behind in today’s economy. Without access to basic banking services, such as checking and savings accounts or small loans, consumers are vulnerable
to a host of financial abuses. To foster a more

Why This Matters is a series from Roosevelt staff connecting our individual work—from papers to reports and everything in between—to our broader vision of creating a better, more equitable economic and political system. This series will give readers the top takeaways from our latest writing and thinking, with a focus on why they matter as we

Introduction On Tuesday, the Office of the Comptroller of the Currency (OCC)—one of the nation’s banking regulators—announced that it will allow non-bank financial technology companies (fintechs) to apply for national bank status. This may sound like a plain-vanilla regulatory move, but it is a move in the wrong direction from regulation that would truly protect

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In a joint publication of the National Employment Law Project (NELP) and the Roosevelt Institute, Irene Tung and Katy Milani expose the extent of stock buyback spending across the U.S. economy from 2015 to 2017—finding that companies spent almost 60 percent of net profits on buybacks. At a time of growing economic inequality, with millions

Why This Matters is a series from Roosevelt staff connecting our individual work—from papers to reports and everything in between—to our broader vision of creating a better, more equitable economic and political system. This series will give readers the top takeaways from our latest writing and thinking, with a focus on why they matter as we

The student loan program today serves industry insiders over its core stakeholder: students. The government justifies bailing out these other participants—lenders, servicers, debt collectors, and even colleges—as being in the best interests of students, student loan borrowers, and taxpayers. These claims, however, do not hold up. In Who Pays? How Industry Insiders Rig the Student

For a full analysis of why stock buybacks artificially boost share prices and reward shareholders and executives to the real detriment of workers and our economy at large, see Stock Buybacks: Driving a High-Profit, Low-Wage Economy. Monday’s bold speech by Robert Jackson Jr., Commissioner at the Securities and Exchange Commission (SEC), will hopefully mark the

Why This Matters is a series from Roosevelt staff connecting our individual work—from papers to reports and everything in between—to our broader vision of creating a better, more equitable economic and political system. This series will give readers the top takeaways from our latest writing and thinking, with a focus on why they matter as we