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Tuesday, October 31, 2017

UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism” -

UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism” -



via Mark Thoma

Market power begets political power, which begets further market power


Market concentration, regulatory capture, and rents are incontrovertibly connected, the authors argue. As firms become bigger and more profitable, they are able to hire vast armies of lobbyists and capture regulators and elected representatives, securing generous government subsidies and lax antitrust enforcement, which in turn allow them to become bigger and more profitable.

The UNCTAD 2017 Report

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