New Report from the Roosevelt Institute: Rampant Market Power of Corporations Responsible for Rigging the Economy Against American Workers and Consumers, Harming Communities
MEDIA ADVISORY: March 29, 2018 CONTACT: Alexander Tucciarone, firstname.lastname@example.org, 516-263-9775 New Report from the Roosevelt Institute: Rampant Market Power of Corporations Responsible for Rigging the Economy Against American Workers and Consumers, Harming Communities New York, NY — Earlier this week, the Roosevelt Institute released its latest report, Powerless: How Lax Antitrust and Concentrated Market Power Rig
Today, the Roosevelt Institute released Powerless: How Lax Antitrust and Concentrated Market Power Rig the Economy Against American Workers, Consumers, and Communities, a report I wrote with my colleagues Eric Harris Bernstein and John Sturm. In this report, we catalog the growing body of evidence that strongly supports our view that the economy is afflicted
Powerless: How Lax Antitrust and Concentrated Market Power Rig the Economy Against American Workers, Consumers, and Communities
As workers, as consumers, and as citizens, Americans are increasingly powerless in today’s economy. A 40-year assault on antitrust and competition policy—the laws and regulations meant to guard against the concentration of power in private hands—has tipped the economy in favor of powerful corporations and their shareholders. Under the false assumption that the unencumbered ambitions
The dramatic rise in stock buybacks following the passage of the GOP tax plan, also known as the Tax Cut and Jobs Act, has elevated the role stock buybacks play in on our economy. Estimates have shown more than $100 billion in new stock buyback programs have been authorized since the tax law’s passage. Additionally,
In the middle of the 20th century, it came to be believed that “a rising tide lifts all boats”: economic growth would bring increasing wealth and higher living standards to all sections of society. At the time, there was some evidence behind that claim. In the ensuing economic and political debate, this “rising-tide hypothesis” evolved
Presentation to the Congressional Antitrust Caucus, Panel Remarks February 16, 2018 Today, economists and average Americans are confused by the same puzzle: We see historically high corporate profits and low corporate investment. In a productive economy, high profits and low investment aren’t supposed to occur simultaneously. So how do we explain what is going on?
The ability of workers to bargain for a greater share of a firm’s corporate profits has eroded over decades, and one of the growing drivers of this reality is the financialization of the corporate sector. Corporate financialization can be summed up as two behaviors: firms (like Walmart or Pfizer) increasingly earning profits from financial activity
There is much to be concerned about in America today: a growing political and economic divide, slowing growth, decreasing life expectancy, an epidemic of diseases of despair. The unhappiness that is apparent has taken an ugly turn, with an increase in protectionism and nativism. Trump’s diagnosis, which blames outsiders, is wrong, as are the prescriptions
Globalization was oversold. Politicians and some economists wrongly argued for trade agreements on the basis of job creation. The gains to GDP or growth were overestimated, and the costs, including adverse distributional effects, were underestimated. There have been important political consequences of this overselling, including the undermining of confidence in the elites that advocated globalization.
The enormous tax legislation currently moving through the Senate at breakneck speed has already been analyzed by several official and nonpartisan experts and every single analysis has shown the same thing: the biggest tax cuts go to the wealthy and corporations, and many middle-income and lower-income families would pay more in taxes than they do