Category Archives: Market inefficiencies

Michael Hudson: Celebrating the One Percent – Is Inequality Really Good for the Economy?

The backlash has begun. Prominent economists are upping their game in trying to depict the gains of the One Percent as virtuous and beneficial.


Does Wall Street Do “God’s Work”? Or Even Anything Useful?

Bank executives frequently proclaim that Wall Street is vital to the nation’s economy and performs socially valuable services by raising capital, providing liquidity to investors, and ensuring that securities are priced accurately so that money flows to where it will be most productive. There’s just one problem: the Wall Street mantra isn’t true.


Where is Amy Klobuchar? How Democratic Indifference is Squandering a Unique Moment on Antitrust Policy

It’s been a good few weeks for opponents of further market concentration. Oil services firms Halliburton and Baker Hughes called off their merger amid a Justice Department lawsuit. New rules on corporate inversions led to an abandonment of the Pfizer-Allergan merger. The White House issued a directive to federal agencies to take steps to foster competition, with an opening salvo of ending the monopoly of cable set-top boxes. The Economist, of all places, started agitating for increased competition amid record corporate profits. The antitrust movement, in short, has gone mainstream.