Flamminio Di Sera like Ocasio-Cortez who was lampooned recently for telling amazon to go Fuck themselves. Their are a few democrats who are actually trying to do the right thing but the “news-media”, as opposed to the entertainment media, despise them.
The left against the right is what our HANDLERS WANT!!!! Our REPRESENTATIVES should be enforcing the law, the SHERMAN-ANTI TRUST ACT. The Bread and Circus and friction against EACH OTHER allows the Central Banks and the rest of our OWNERS to have their way with us. Why can't people see that??? BB
@@peteradaniel I am talking about TRUST BUSTING, I did NOT mention more PHONY Fiat Currency in the form of Crypto-Crap. Never mentioned that. Do you know what TRUST BUSTING IS??? Didn't you study History??
One of capitalism's inherent contradictions is that it requires competition, yet without significant regulation (anti-trust laws) it will always tend toward monopolization since participants focus on accumulation of capital, and hence the means of production.
If you have ever played a game of monopoly then you know it always ends the same way. One person owns everything and everyone else is bankrupt. Making money with the money previously made causes an accumulation or feedback loop that sucks the wealth right out of every players hands and into the "winners" hand. When the wealth transfer is complete, its game over for everyone.
Catobis True, real life is more complex then a game, yet the underlying principal of wealth concentration is true in the real world as well. Wealth has accumulated into the richest 1% in an almost exponential manner. Wealth in the game and in the real world seems to go to the players who were lucky early on and knew how to make money with their money. Eventually fewer and fewer people had any wealth, only debt until only one person pretty much had all the wealth. This is also true of both the game and real world economics. In real life we can see that the same phenomena is playing out on a macro economic scale. When 3 people own and control the capital of more wealth then half the country then one is left asking : How long before almost every body is living in abject poverty while a few families rule the roost? Look at the data that shows wealth distribution over time. The rich get richer nearly exponentially while real wages are dropping when corrected for inflation. Reagan's "Trickle Down" economics turned out to be a gush up of societies wealth into the hands of the luckiest 1% Ive heard the argument that monopoly doesn't apply because the real world is not a zero sum game because more wealth is generated every year as we consume the Earth's resources at an increasing rate. That may have been true when we seemed to be able to grow industry and consumption almost without limits. Now, however, the tide is turning. The abundant resources which used to be available for unlimited economic growth are now getting more dilute and harder and more costly to get. Peak keystone resources will eventually turn the industrial world economy into a negative sum game. In other words there are limits to growth. Without growth there is less and less wealth to go around and eventually the unequal distribution of wealth reaches such an extreme that the government has to financially and materially support those who don't have the wealth to support themselves. Eventually the government goes bankrupt doing this and the currency resets. Wealth gets redistributed as paper assets such as debt based bonds are revalued and the game begins again. It could happen that way.
That's literally the point of the game. "Monopoly" was created in protest of unregulated capitalism. That it got bought by MB and then mass produced is ironic.
I find it hard to believe RR has only 39,000 subscribers. The mans ability to take complex ideas and communicate them in street level terms is genuinely genius. Thank you RR and don’t stop being a voice in the wilderness.
I remember when they deregulated the energy companies in my state. "It will reduce operating costs, rates will go down!" Actually, no, theres now only 1 energy supplier for the entire state, they charge whatever the hell they want while delivering slower, crappier service. They were right though, it certainly did lower operating costs, but such reductions never get translated into customer savings.
We need to ask ourselves the question: Why would they lower cost? Companies want to make as much profit as possible so just because they can lower prices doesn't mean they will, they need to have a reason.
Steve nope watch at least three or more and should have to watch in schools along with "The Big Short" movie, it's insane, and we have got to take back our country vote Bernie Sanders! We have to stay alert to what is going on. Look up the "Paradise Papers" about 70 billion dollars of taxes to the US all in tax havens and loop holes all the while the average pay though the nose and works hard just to stay afloat. Not good news, I saw this going down in the early eighty's and it never stopped or slowed down now look where we are at its crazy. Spread the word people aren't paying attention.
Along with enforcing anti trust regulations, repeal of Citizens United to limit corporations huge financial influence in politics and reinstating the Fairness Doctrine by the FCC are needed to reverse the trend of corporate control of the US.
Fairness doctrine was necessary ONLY because there was no ability for people to freely choose other sources of media. This is completely unnecessary today, the citizenry can.. and does... seek out new sources of media when they become unhappy with their media.
@@cyberpunkspike Well, when some people are consuming only a single source, and that source has fabricated an entirely different reality, then we have an issue. Not sure how to solve it, as I certainly don't want to give the keys to somebody like Trump and let them decide what constitutes "facts."
@@cyberpunkspike this is a crap take. citizens cannot control what is broadcast on the air waives. and radio talk stations are dominated by corporate paid right wing propagandists to the point of a monopoly. it's beyond ridiculous
@@DerPilotMann It makes zero sense in today's climate, unlike the 1940's, you can access a multitude of news sources. ... OK, i think i see where you are having difficulty. You presume that it is a socially legitimate goal to determine what is the truth, and what isn't. However this isn't a legitimate social goal, because consensus is not the truth, and is itself hostile to the pursuit of truth. This is why the scientific method is a method, instead of an election process. This is why the catholic church was wrong, and Galileo was right. Society doesn't form a consensus of what is true through a political process, we collectively accept the truth after those with knowledge of the truth are more powerful than those who refuse it. The knowledge itself being the source of individual power, not institutional or political power. Those who have interests in rejecting the truth, almost everyone in positions of power or influence, we expect them to collude and obfuscate any inconvenient facts about the material world. If you accept a false narrative as the truth, your predictions will not be demonstrated correct. Any new science you develop will only be as powerful as the political and institutions that prop it up. It will lack all the powers of truth, it will only have the powers of religion, and not the powers of science.
I had a dad , and a few good teachers in high school .they taught me to pay attention to politicians , politics , history , ask questions , keep reading everything . Books , newspapers, Robert , I would like to tell you what a great teacher , professor, and politician you are . YOU ARE A GREAT TEACHER . Please keep teaching .
Hi Enn, Yes, a "Monolith". Marx would have loved it. Instead of the State having to Nationalize hundreds of thousands of businesses, the State would only have to lock down on a handful, and, voila, the State would have an effective Monopoly on the Means of Production. Marx also said that Capitalism will sell the rope used to hang it. God Bless Capitalism... it is so predictable.
Hi Circusboy, In regards to "the American Dream is alive and well", well, yes, the "Dream" seems to still be kicking. We know that because of all the people that insist upon it. However, the REALITY of America as a Land of Plenty and Vast Opportunities is well past its peak. All the Data points to a steady decline. Wages are flat. Most small business fail. More lawyers are specializing in bankruptcies. More retailers are switching to high end goods because there is no longer a dominant middle class consumer class. All the signs and data point to a contracting and shrinking America.
Leo Volont j li t even true. It's still a place where s person can go f et on homeless to $1,000 a day in very short time without a high school education
Hi Circusboy, I am sure that America is not the only place in the World where people can scam and hustle. However, the greater part of Humanity feel it degrading to relate like predators to their fellow man. People would rather simply want to have an economy that works for all, without having to plot, scam, cheat and hustle. Life should encourage our Highest Faculties, not our lowest.
I have heard countless of politicians say, "Small businesses are the backbone of the American economy". I guess these days the politicians have lost their spine to challenge corporations with antitrust laws.
One of the things that people often leave out of Adam Smith's ideas about capitalistic economic systems is that if governments incentivize or ally with corporations, there is no "free market". I also view this as a national security issue. If everything is provided through one service, it is really easy to bring down. Also, "too big to fail" has somehow become a thing, which is inherently against the idea of a free market. Many, small providers is more diverse, more secure, more generative of new ideas, and ultimately also provides more jobs.
I agree. But the basic fact is that competition eliminates competition. Hence the need for robust anti-concentration legislation and strong enforcement. Concentrated wealth will do everything to fight it, including buying politicians, to be sure.
The government not only creates monopolies with legislative protections...but IS a monopoly itself. Monopolies are bad for consumers. Yet people still support the government, which is a (violently funded) monopoly. No wonder our schools, roads, money supply, police, courts, and jails are totally fucking rotten. At least I won't go to jail for not buying a product from a market monopoly.
There are many more examples. Most of the cruise ship market is dominated by 2 companies. Over 80% of the air travel market is dominated by 4 companies.
Very well made & educational, thank you so very much Prof. Reich, consumer welfare vs corporate welfare, in the age of instantaneous gratification of materialism, junk gossips, and passive consumption of images, the US citizens need to revisit the power of critical thinking before they would value anti-trust regulations.
I think the problem is everyone wants to be able to screw everone else when they "get lucky" and make it rich. The problem with the american dream is dreams arent real
This series of Robert Reich videos are among the most informative and accurate I have ever seen in my life. It also confirms my view that the Democrats and Republicans have essentially become one party.
@@gregj1241 Well, they could have fooled me. They got very close to real change with Bernie Sanders, and the owners of the Dem party did EVERYTHING possible to make sure that change would NEVER happen.
They are too short to be "accurate," but they do contain a lot of information and they are mostly right, and I'm often surprised by how many Republicans seems to be agreeing with him (I'm not a Republican or a Democrat btw)
Yes. In the Old Days farmers could hold back grain from the market to use it for Seeding the next years crop. But somehow Monsanto insists that Seed Grain must be bought every year. And Monsanto hires people to run around and audit every field in America to determine whether any Corn or Soy is somehow growing up where there is not also a receipt on record for Seed Grain purchases. Monsanto has taken farmers to court. One farmer had to defend himself in Court because some lose grain from the year before had sprouted up in a field that was being allowed to go fallow -- Monsanto sued them for having a few stalks spring up in an otherwise empty field. So, yes, Monsanto has ENEMIES. Politicians on the Left could easily swing Farmers from Voting Red as a knee-flex reaction. "Vote for Us and we will see that Monsanto gets Screwed" would be a great Campaign Slogan across all of those Fly Over States.
Leo Volont: I know, it's sick how Monsanto operates. In a poli sci course I took, we had a whole section dedicated to how fucked up our industrial food industries are. We learned all about Monsanto and their shady business practices. We can thank the courts for handing them such power, to monopolize genetic sequences and everything downstream from such a genetic sequence (e.g. gmo seeds).
Hi Frederic, Well, yes, it is undeniable that through intelligent genetic engineering, one can derive a better seed stock (which is what has been being done since Mendel experimented with his peas, and even before that. the biggest tomatoes and the largest grapes always took the Prize, and the remaining farmers would beg, buy or steal the seeds or vines, and so, even without genetic laboratories, crops were progressively getting bigger and better). But the issue today is that Monsanto is Bigger than Monsanto -- the People who sit on Monsanto's Board of Directors sit on other Boards also (a big living can be made by being on a Board of Directors, and for each chair you get, that's another paycheck. You just have to be famous for being the type of guy (yes, male) who gets along (and goes along) with everybody. ) So All of the Big Buyers in the Grain Market SPECIFY that they will ONLY buy Monsanto Crops. So, otherwise good healthy grain that would otherwise do well on the Market is rendered practically worthless. Also, whatever Monsanto did to make their crops "pest resistance" has screwed up the pollen and is killing all the bees, and, probably, any researcher who gets close to proving it gets in a car accident or has a heart attack before their 50th birthday. that is how we know that only 1 out of 500,000 people in America is an Investigative Journalist. The Few do their Best, but generally we are all living in Darkness.
Hi Frederic, So Social Security is a Copyright Protected Monopoly? Well, do you really think that the Social Security Administration would take anybody to Court for giving Checks to people?
You did a great job on this video".... Awesome job....very important, when are we going to to do something about it....These monopolies are not friendly to small business...This is what is so devastating to the economy...
+ tbh, I have conducted my own research on this issue: my chocolate milk - some Hungarian company -Nestlé on the back; ketchup Torchin (Торчин), ukrainian one (I live there), never heard right? Nestlé on the back. Mivina (Мівіна) - cheap short spaghetti pieces -poor boiled voter and eat. Junk as shit. Nestlé.
Your presentations, when broken into their constituent parts, look a lot like this - 90% Information, 85% Great visuals, 82% comprehendible to all, and finally 100% entertaining. Corporations WISH they had numbers like these. But wait, just ONE REQUEST, Mister R, please don't incorporate yourself! DO keep up the fine works. Thank you for sharing...
+Spirit of Food.com since 1998 Get the Department of Justice and Federal Trade Commission to increase Sherman Act investigations. The number of mergers has soared, but the number of enforced actions has stayed the same. equitablegrowth.org/innovation-entrepreneurship/presentation-merger-enforcement-statistics/ For example, in 2014, there were 424 corporate mergers and 41 enforcements. In 2016 there were 670 corporate mergers, and 46 enforcements. The key is make enforcements more proportional to merger filings.
The problem is NOT monopolies and the size of corporations. The problem is the OWNERSHIP of corporations. If the ownership of corporations were socialized it would become democratically accountable. That means that the profits could be distributed more equally, workers would get higher wages, it would pay higher taxes and the company would have a social purpose. Since Reich is a liberal progressive to him social ownership is off the table as it is with ALL liberals.
hand out fines as % of net income, you control 100% of a market? you pay double tax and redistribute. if they jack up prices by 20% competitors will have space to grow, if they decrease market share competitors again have space.
In 1956 my dad had a job(draftsman,designer)that paid $5.00 an hour. Today, by the governments own inflation statistics it would take $47.00 an hour to have the same buying power. What happened? The Federal Reserve! The Federal Reserve! The Federal Reserve!
I completely agree with Robert. I remember my grandmother telling me she could remember when bell owned all the telephone companies and wires. And was split up with some states taking control over parts. Thank you.
Interesting fact: Rob keeps pointing at companies like Kraft , General Mills and Nestle. They are all owned by one company Altria Group (Formally :Phillip Morris - Marlboro) Below is full list of PM Brands (Starbucks used to be on list)
Beer Miller Lite Miller Genuine Draft Miller Genuine Draft Light Miller High Life Miller High Life Light Milwaukee's Best Milwaukee's Best Light Icehouse Foster's � Red Dog Southpaw Light Leinenkugel's Henry Weinhard's Henry's Hard Lemonade Hamm's Mickey's Olde English 800 Magnum Presidente Sharp's non-alcohol brew *Not generally available in the U.S. **International products available in some specialty stores and supermarkets. �Licensed trademark.
Damn. Ok, I'm putting Corn Nuts, Planter's, all my favorite cereals, and Baker's Chocolate on my no-buy list, along with palm oil products and Wal-Mart. It's like becoming a vegetarian, it's only hard at first. Tyvm for reference!
Literally the only way is a war. There is no peaceful, nonviolent way out of corruption. Look at EVERY SINGLE CIVILIZATION IN HISTORY if you think I’m wrong. We need a civil war against the richest people and we need to PHYSICALLY take our country back and actually enforce anti trust law. Corrupt never govern themselves and when the illusion of a “vote for freedom” from literal candidates that all represent the same abusers, they will realize I’m right. Hopefully before it’s impossible to overthrow them.
@@LolLol-zr9jc monopolies are not small businesses lmao. Anti trust laws affect large corporations like Amazon, Disney, Walmart, not the mom and pop shop down the street.
Teddy, Franklin - please send help! ... crickets ... Guess we will have to do it ourselves. Support the Elizabeth Warrens whenever they stand up in Congress or run for office.
I have to applaud Robert Reich for retaining the energy to devote to promoting a better society. He has witnessed the dynamics unfold in this depressing and seemingly hopeless political situation in the U.S. I hope people will listen to him. I hope America will stop fighting wars for corporate profit, instate medicare for all Americans, reduce the financial burden on young people trying to get an education, and make sure that any full-time employment guarantees a living wage by law.
THANKS ROBERT! AGAIN! I've followed you for years and always am interested to hear what you have to say because you know what you're talking about and you say what NEEDS to be said! Please! Don't ever stop! I try to propagate your message whenever I feel like I can. And last but definitely not least-and please-I mean this only in the most complementary way-WHY DON'T YOU RUN FOR THE PRESIDENCY?! I mean it! We NEED YOU! And you would mop the floor with the likes of these other embarrassing clowns that ran the last time! If you do-plaese contact me-I will do anything I can do to help! I mean it!!
We need Robert Reich in South Korea. Would you please ever come over to explain how unfair the economical system is but why it doesn't looks like that for majority of citizens? Look at Samsung and all its families. Relentlessly expanding itself towards everything, even almost every small convinience stores and domestic restaurants. No regulations are being made here about those unreasonable markets, even by the most liberal government and congress we've ever elected. Because the corporates' power influence every citizen's income and welfare, which means it's very easy to threaten and compromise those citizens' political stance. What can we do about this? What options left? Please help Robert. We're at the peak of our liberal political power, and now's the time to do something that really works.
Really an outstanding piece. This is the explainer on Antitrust I've been looking for to show to others. ...It's really a crucial issue. Even if you're the biggest pro-market or free-market person, please take a minute to consider how many different industry fields you see that are totally dominated by one or just a couple of major firms. The firms inevitably start twisting and distorting the market circumstances, either legally or semi-legally or worse. Additionally, modern data studies are constantly coming out that show all kinds of terrible effects. Any balanced review of the current state of Antitrust will conclude that we've allowed the whole regulatory process there to be completely captured by vested interests.
A country that do not have antitrust laws, should as a minimum refuse allowing political donations from companies over a certain size and set a max on how much a private person can donate to campaign funds.
farmer's market means you are still buying from monsanto and other seed giants. even for eggs and poultry it's better to buy hatchlings or eggs from suppliers because they are more productive.
Sadly I can't get everything I need to survive from my local markets... But if you want to hinder their efforts buy unprocessed raw produce/dairy/meats. There's less profits in them.
A great inventor or businessman with a great idea could ride that idea into something great. These businesses took care of the neighborhood, offered jobs and community programs, and gave these neighborhoods pride. Now the American dream is to kick-start your idea, get as much backing as possible, and hopefully one of these top companies will buy you out. Doesn't sound so dreamy.
I warned people for so long, now it has gone so far that only an extreme action at all levels of our society will achieve revitalization of values, morals and the dream that was once this great nation.
Too big to fail is the single most unamerican thing to happen in my life time. Capitalism only works when your failure leaves a market gap for others to capitalize on
Well we would first have to have the Mad Max future until it got so bad that the world nearly annihilated itself via nuclear winter before the Star Trek future could come about.
its serious guys. Nestle has even been privatizing water and have been selling it for profit. this has caused rivers to dry up, environmental costs, and a cornering of the market... for water...
Corporations were illegal in the US except for long term infrastructure projects. When the projects were over the corporations were closed. It was only as of 1914 that corporations were allowed to exist legally. You do the math.
wildtwindad - Do you think that had anything at all to do with what happened in 1913? "December 23, 1913. President Woodrow Wilson signed the Federal Reserve Act on December 1913, ... the development of a central bank."
The Bureau of Corporations was created by Congress on February 14, 1903. It was created to identify and break up monopoly corporations - such as it did with the world's first and largest multinational corporation, Standard Oil, in 1911. If corporations were illegal, it would seem a bit silly to establish a bureau for their oversight, wouldn't it?
1. Start your own toothpaste company (I once worked for Colgate). 2. Cat food: Look at Chewy and other sources. A lot more than just two selections. 3. Amazon is winning because it makes shopping easy. Kinda like Sears did 100 years ago. What's Mr. Reich's points? Oh, that's right... Government is the Solution!
One of the few times I completely agree with Reich. We are paying the price for the Reagan deregulation. If we don't revive anti-trust, that will only drive us to socialism. Unless we recover from our narcissism epidemic, that would be very bad.
The only issue with monopolies for me is the dismantling of labor unions. If corporations can be allowed to collaborate and merge why should labor be denied the same in a free market system.
One detail not mentioned is how those big companies create functional monopolies by mutually agreeing to steer clear of each other's area of operations. This is especially egregious with the telecom giants, to the point where people in many states have no choice but to put up with the sole provider, regardless of how bad and expensive they are.
Isn't this really just the predictable late stages of capitalism playing out? Gradually all the money accumulates with those who are in power and can exploit.... which snowballs over time.
Same in communism or socialist countries Or worst because they slave you with violence shoot you and only the Stalins and Bolsheviks have money and power not even lawyers can help you. So yes is bad. Only God can help us ...
Yes but don't make it worst. Socialist make it worst. When you were in government you and the presidente gave money to the Rich bankers not the people. So you're a big time very rich Hypocrite. Yes you are part of the problem likewise all your ilk be any political party. Bad boys and girls...
Russia isn't socialism Russia is communism They are not the same thing. USA Is a socialistic country We tax and spend the tax on stuff, like schools, roads, research, military, ect. Pure capatalism has no government. Your corner drug dealer is pure capatalism, his customers and rivals can kill him and he can kill his rivals and customers. That's capatalism in it's purest form. No rules. Just pure greed.
The problem now is that we live in a globalized world. If America wants to continue to be the leader in many industries they really need these large companies. It would be best for the world if they were broken up, but maybe not for the country. Now if there was some sort of global anti-trust law that could work in all countries that would be awesome, but we are nowhere near a world government like that.
Sir, YOU are one of my greatest living heroes!!! Thank You So Very Much... For Filling My Mind With Hope!!! Very Respectfully, Phil Laserna, Thinker, Daddy, Warrior For Peace, Chief Petty Officer, United States Navy, Retired
There are tons of ways corporations get around antitrust laws. For example, 50+ years ago, AT&T started basically carrying small phone companies so no one could say "monopoly." Then there's the fake competition, like car companies, oil companies, etc.
All the oil companies are owned by the same shareholders, so technically there is no competition. Try questioning why the US will never allow foreign oil companies from Asia to sell its oil in America? Because that would significantly reduce the cost of oil to consumers and challenge the monopolies in US.
Please do not stop making these excellent videos. Also, who can we trust to represent our best interests when so many politicians are either clueless or in the pockets of the very corporations that prey on the powerless consumer. our current president appears to be efficient at promoting himself through tall tales and shameless inaccuracies but little else. Is there anyone out there who will genuinely protect not only our best interests but also legitimately make sound decisions to lead the United States towards a brighter future?
We do, but the antitrust laws are no longer being enforced. - The DoJ tried to breakup IBM when IBM had over 60% market share. What happened? IBM stonewalled DoJ. Eventually DoJ gave up and the US Attorney General became IBM's chief council. - With the limit on corporation campaign contributions now erased, if an administration goes after a monopoly, the monopoly can fund the administration's opponents in retaliation. Senators will find ways to oppose the antitrust effort.
As it is right now, Left vs Right, it should be, Citizen vs Corporation.
@@yajy4501 angry
After they realize the most be sorry
It's not by lack of warning they think that way
Flamminio Di Sera like Ocasio-Cortez who was lampooned recently for telling amazon to go Fuck themselves. Their are a few democrats who are actually trying to do the right thing but the “news-media”, as opposed to the entertainment media, despise them.
The left against the right is what our HANDLERS WANT!!!! Our REPRESENTATIVES should be enforcing the law, the SHERMAN-ANTI TRUST ACT. The Bread and Circus and friction against EACH OTHER allows the Central Banks and the rest of our OWNERS to have their way with us. Why can't people see that??? BB
@@bobburnitt5389 What and your solution is Bit coin? Lol
@@peteradaniel I am talking about TRUST BUSTING, I did NOT mention more PHONY Fiat Currency in the form of Crypto-Crap. Never mentioned that. Do you know what TRUST BUSTING IS??? Didn't you study History??
We are and have been living in an corporate dystopia for a while now. I've been born into one and it is really demotivating.
January 1981, about a half year before I graduated high school, heralded “Mourning In America.”
@@Luked0g440 Powell Memo
One of capitalism's inherent contradictions is that it requires competition, yet without significant regulation (anti-trust laws) it will always tend toward monopolization since participants focus on accumulation of capital, and hence the means of production.
If you have ever played a game of monopoly then you know it always ends the same way. One person owns everything and everyone else is bankrupt. Making money with the money previously made causes an accumulation or feedback loop that sucks the wealth right out of every players hands and into the "winners" hand. When the wealth transfer is complete, its game over for everyone.
Karl Rosengrant monopoly is not an accurate economic simulation
That's semantics. You are clearly smart enough to understand his (well-made) point. Or, maybe you're not.
Catobis True, real life is more complex then a game, yet the underlying principal of wealth concentration is true in the real world as well. Wealth has accumulated into the richest 1% in an almost exponential manner.
Wealth in the game and in the real world seems to go to the players who were lucky early on and knew how to make money with their money. Eventually fewer and fewer people had any wealth, only debt until only one person pretty much had all the wealth. This is also true of both the game and real world economics.
In real life we can see that the same phenomena is playing out on a macro economic scale. When 3 people own and control the capital of more wealth then half the country then one is left asking : How long before almost every body is living in abject poverty while a few families rule the roost?
Look at the data that shows wealth distribution over time. The rich get richer nearly exponentially while real wages are dropping when corrected for inflation. Reagan's "Trickle Down" economics turned out to be a gush up of societies wealth into the hands of the luckiest 1%
Ive heard the argument that monopoly doesn't apply because the real world is not a zero sum game because more wealth is generated every year as we consume the Earth's resources at an increasing rate. That may have been true when we seemed to be able to grow industry and consumption almost without limits. Now, however, the tide is turning. The abundant resources which used to be available for unlimited economic growth are now getting more dilute and harder and more costly to get. Peak keystone resources will eventually turn the industrial world economy into a negative sum game. In other words there are limits to growth. Without growth there is less and less wealth to go around and eventually the unequal distribution of wealth reaches such an extreme that the government has to financially and materially support those who don't have the wealth to support themselves. Eventually the government goes bankrupt doing this and the currency resets. Wealth gets redistributed as paper assets such as debt based bonds are revalued and the game begins again. It could happen that way.
That's literally the point of the game. "Monopoly" was created in protest of unregulated capitalism. That it got bought by MB and then mass produced is ironic.
I find it hard to believe RR has only 39,000 subscribers. The mans ability to take complex ideas and communicate them in street level terms is genuinely genius. Thank you RR and don’t stop being a voice in the wilderness.
It's funny that now it's exactly 10x that many. 390k
@@c0l0jar0It should have been at least 100x by now.
He is probably a communist
he's truly one of the good ones, a voice of TRUTH railing against the amoral jackal-filled corridors of power
Because some people don’t wanna hear the truth, it hurts
I remember when they deregulated the energy companies in my state. "It will reduce operating costs, rates will go down!" Actually, no, theres now only 1 energy supplier for the entire state, they charge whatever the hell they want while delivering slower, crappier service.
They were right though, it certainly did lower operating costs, but such reductions never get translated into customer savings.
It's a shame that energy companies profit so much while some can barely keep their utilities on.
We need to ask ourselves the question: Why would they lower cost?
Companies want to make as much profit as possible so just because they can lower prices doesn't mean they will, they need to have a reason.
It’s the corporate mantra/model: Charge more, provide less, maximize profits/stock dividends.
Absolutely everybody should watch this twice. Why is America goin' down the crapper? Here's one of the most important reasons.
Pity the poor lobbyists. If monopoly corporations are broken-up, the lobbyist will need to find multiple clients instead of just one big one. ;~)
@@richardgreen7225 We can be the lobbyist and we must be! Can't remain complacent for 40 more years!
Steve nope watch at least three or more and should have to watch in schools along with "The Big Short" movie, it's insane, and we have got to take back our country vote Bernie Sanders! We have to stay alert to what is going on. Look up the "Paradise Papers" about 70 billion dollars of taxes to the US all in tax havens and loop holes all the while the average pay though the nose and works hard just to stay afloat. Not good news, I saw this going down in the early eighty's and it never stopped or slowed down now look where we are at its crazy. Spread the word people aren't paying attention.
Republicans think it's socialism. 🤣
@@sa-iw4dr Sigh.. as if the human race has another 40 years!
Along with enforcing anti trust regulations, repeal of Citizens United to limit corporations huge financial influence in politics and reinstating the Fairness Doctrine by the FCC are needed to reverse the trend of corporate control of the US.
Not likely with the supreme Court now.
Fairness doctrine was necessary ONLY because there was no ability for people to freely choose other sources of media. This is completely unnecessary today, the citizenry can.. and does... seek out new sources of media when they become unhappy with their media.
@@cyberpunkspike Well, when some people are consuming only a single source, and that source has fabricated an entirely different reality, then we have an issue. Not sure how to solve it, as I certainly don't want to give the keys to somebody like Trump and let them decide what constitutes "facts."
@@cyberpunkspike this is a crap take. citizens cannot control what is broadcast on the air waives. and radio talk stations are dominated by corporate paid right wing propagandists to the point of a monopoly. it's beyond ridiculous
@@DerPilotMann It makes zero sense in today's climate, unlike the 1940's, you can access a multitude of news sources.
... OK, i think i see where you are having difficulty. You presume that it is a socially legitimate goal to determine what is the truth, and what isn't. However this isn't a legitimate social goal, because consensus is not the truth, and is itself hostile to the pursuit of truth. This is why the scientific method is a method, instead of an election process. This is why the catholic church was wrong, and Galileo was right.
Society doesn't form a consensus of what is true through a political process, we collectively accept the truth after those with knowledge of the truth are more powerful than those who refuse it. The knowledge itself being the source of individual power, not institutional or political power. Those who have interests in rejecting the truth, almost everyone in positions of power or influence, we expect them to collude and obfuscate any inconvenient facts about the material world.
If you accept a false narrative as the truth, your predictions will not be demonstrated correct. Any new science you develop will only be as powerful as the political and institutions that prop it up. It will lack all the powers of truth, it will only have the powers of religion, and not the powers of science.
Finally I've been trying to get people to realize this for 17 years
Marcus White - 28 years trying here
Reich has been at it much longer, but most people have no idea about any of this. But keep trying
I had a dad , and a few good teachers in high school .they taught me to pay attention to politicians , politics , history , ask questions , keep reading everything . Books , newspapers, Robert , I would like to tell you what a great teacher , professor, and politician you are .
YOU ARE A GREAT TEACHER .
Please keep teaching .
Just another nail in the coffin of the American Dream, and a shiny new monolith for the American Nightmare.
Hi Enn, Yes, a "Monolith". Marx would have loved it. Instead of the State having to Nationalize hundreds of thousands of businesses, the State would only have to lock down on a handful, and, voila, the State would have an effective Monopoly on the Means of Production. Marx also said that Capitalism will sell the rope used to hang it. God Bless Capitalism... it is so predictable.
the american dream is alive and well. none of this works like this communist imagines it does. equality of outcome ison't a right or american.
Hi Circusboy, In regards to "the American Dream is alive and well", well, yes, the "Dream" seems to still be kicking. We know that because of all the people that insist upon it. However, the REALITY of America as a Land of Plenty and Vast Opportunities is well past its peak. All the Data points to a steady decline. Wages are flat. Most small business fail. More lawyers are specializing in bankruptcies. More retailers are switching to high end goods because there is no longer a dominant middle class consumer class. All the signs and data point to a contracting and shrinking America.
Leo Volont j li t even true. It's still a place where s person can go f et on homeless to $1,000 a day in very short time without a high school education
Hi Circusboy, I am sure that America is not the only place in the World where people can scam and hustle. However, the greater part of Humanity feel it degrading to relate like predators to their fellow man. People would rather simply want to have an economy that works for all, without having to plot, scam, cheat and hustle. Life should encourage our Highest Faculties, not our lowest.
I have heard countless of politicians say, "Small businesses are the backbone of the American economy". I guess these days the politicians have lost their spine to challenge corporations with antitrust laws.
They are bought off by them. You don’t go biting the hand(s) that feeds you.
Backbone and lost spine. Nice.
Small business is not the backbone of the economy they don't have the money to pay for healthcare or pension
I'm a Republican and I agree, competition is key! Competition is what drives down prices.
One of the things that people often leave out of Adam Smith's ideas about capitalistic economic systems is that if governments incentivize or ally with corporations, there is no "free market". I also view this as a national security issue. If everything is provided through one service, it is really easy to bring down. Also, "too big to fail" has somehow become a thing, which is inherently against the idea of a free market. Many, small providers is more diverse, more secure, more generative of new ideas, and ultimately also provides more jobs.
@@glaciergardner1505 people also forget that Adam Smith detested landlords
I agree. But the basic fact is that competition eliminates competition. Hence the need for robust anti-concentration legislation and strong enforcement. Concentrated wealth will do everything to fight it, including buying politicians, to be sure.
And I also think it's kind of pathetic that the EU has to do the job of the US government.
The anti trust laws need to be re-enacted
America is a welfare state for CORPORATIONS. As long as the establishment stands, they'll NEVER be re-established.
Tell that to Socialists.
They do and yet people are seriously considering a pro-monopoly candidate. There is no enough emphasis on this issue.
@@joananthony6323 If we have "Universal Health Care," Socialists will have their monopoly, and cash in.
@@davidlafleche1142 universal healthcare doesnt have to be from a single comapny....
I love how these videos are so easy to understand, thank you.
This is a really great presentation. Left, Right, or Center, we're all going to have to *LEARN* more about how some of these abuses of the system.
The government not only creates monopolies with legislative protections...but IS a monopoly itself. Monopolies are bad for consumers. Yet people still support the government, which is a (violently funded) monopoly. No wonder our schools, roads, money supply, police, courts, and jails are totally fucking rotten. At least I won't go to jail for not buying a product from a market monopoly.
@@JM-co6rf So, you're saying that you don't buy car insurance from a private company?
@@garretttedeman ?
There are many more examples. Most of the cruise ship market is dominated by 2 companies. Over 80% of the air travel market is dominated by 4 companies.
The Majority of people who own farms are being driven out of business.
Very well made & educational, thank you so very much Prof. Reich, consumer welfare vs corporate welfare, in the age of instantaneous gratification of materialism, junk gossips, and passive consumption of images, the US citizens need to revisit the power of critical thinking before they would value anti-trust regulations.
I think the problem is everyone wants to be able to screw everone else when they "get lucky" and make it rich. The problem with the american dream is dreams arent real
This series of Robert Reich videos are among the most informative and accurate I have ever seen in my life. It also confirms my view that the Democrats and Republicans have essentially become one party.
Well.. LOL.. then you’re not absorbing this information. Instead, you’ve chosen “lazy weak peoples’ way of thinking they’re smart”
Wrong. Democrats want to change it and Republicans don't
@@gregj1241 Well, they could have fooled me. They got very close to real change with Bernie Sanders, and the owners of the Dem party did EVERYTHING possible to make sure that change would NEVER happen.
your view is both facile and dangerously wrong
They are too short to be "accurate," but they do contain a lot of information and they are mostly right, and I'm often surprised by how many Republicans seems to be agreeing with him (I'm not a Republican or a Democrat btw)
Monsanto is a vile company.
Yes. In the Old Days farmers could hold back grain from the market to use it for Seeding the next years crop. But somehow Monsanto insists that Seed Grain must be bought every year. And Monsanto hires people to run around and audit every field in America to determine whether any Corn or Soy is somehow growing up where there is not also a receipt on record for Seed Grain purchases. Monsanto has taken farmers to court. One farmer had to defend himself in Court because some lose grain from the year before had sprouted up in a field that was being allowed to go fallow -- Monsanto sued them for having a few stalks spring up in an otherwise empty field. So, yes, Monsanto has ENEMIES. Politicians on the Left could easily swing Farmers from Voting Red as a knee-flex reaction. "Vote for Us and we will see that Monsanto gets Screwed" would be a great Campaign Slogan across all of those Fly Over States.
Leo Volont: I know, it's sick how Monsanto operates. In a poli sci course I took, we had a whole section dedicated to how fucked up our industrial food industries are. We learned all about Monsanto and their shady business practices. We can thank the courts for handing them such power, to monopolize genetic sequences and everything downstream from such a genetic sequence (e.g. gmo seeds).
Hi Dudeman, Was Poli Sci your major? What are you doing now?
Hi Frederic, Well, yes, it is undeniable that through intelligent genetic engineering, one can derive a better seed stock (which is what has been being done since Mendel experimented with his peas, and even before that. the biggest tomatoes and the largest grapes always took the Prize, and the remaining farmers would beg, buy or steal the seeds or vines, and so, even without genetic laboratories, crops were progressively getting bigger and better). But the issue today is that Monsanto is Bigger than Monsanto -- the People who sit on Monsanto's Board of Directors sit on other Boards also (a big living can be made by being on a Board of Directors, and for each chair you get, that's another paycheck. You just have to be famous for being the type of guy (yes, male) who gets along (and goes along) with everybody. ) So All of the Big Buyers in the Grain Market SPECIFY that they will ONLY buy Monsanto Crops. So, otherwise good healthy grain that would otherwise do well on the Market is rendered practically worthless. Also, whatever Monsanto did to make their crops "pest resistance" has screwed up the pollen and is killing all the bees, and, probably, any researcher who gets close to proving it gets in a car accident or has a heart attack before their 50th birthday. that is how we know that only 1 out of 500,000 people in America is an Investigative Journalist. The Few do their Best, but generally we are all living in Darkness.
Hi Frederic, So Social Security is a Copyright Protected Monopoly? Well, do you really think that the Social Security Administration would take anybody to Court for giving Checks to people?
You did a great job on this video".... Awesome job....very important, when are we going to to do something about it....These monopolies are not friendly to small business...This is what is so devastating to the economy...
This is a wonderful channel with wonderful videos. It is so excellent to see something with substance that is accurate and concise.
+ tbh, I have conducted my own research on this issue: my chocolate milk - some Hungarian company -Nestlé on the back; ketchup Torchin (Торчин), ukrainian one (I live there), never heard right? Nestlé on the back. Mivina (Мівіна) - cheap short spaghetti pieces -poor boiled voter and eat. Junk as shit. Nestlé.
Time to break up Amazon. They've got their greedy fingers in everything.
Don't buy from them on your own. Why do you have to be forced?
Im waiting for Amazons crash! They’re great for consumers because shipping is cheap but it blocks out emerging businesses. You can’t compete.
Including the CIA.
No - not before we break up Walmart.
Abolish private property
i'm old enough to remember the Phone Company..
Where there was only one.
Stoney, Ma Bell was heavily regulated.
Stoney Curtis
And it was broken up by Reagan using anti-trust legislation. Surprising, eh?
@Stoney Curtis, Remember when a road trip to your college buddy's house was cheaper than a phone call to catch up?
Your presentations, when broken into their constituent parts, look a lot like this - 90% Information, 85% Great visuals, 82% comprehendible to all, and finally 100% entertaining. Corporations WISH they had numbers like these. But wait, just ONE REQUEST, Mister R, please don't incorporate yourself! DO keep up the fine works.
Thank you for sharing...
Excellent report - excellent conclusion: Revive Antitrust
Mr. Reich, thanks for being out there and sticking up for people like me. I wish there were a thousand people like you in public life.
How do we revive antitrust law enforcement? Are there suggested steps? Where is the politics of hope in all of this?
+Spirit of Food.com since 1998
Get the Department of Justice and Federal Trade Commission to increase Sherman Act investigations. The number of mergers has soared, but the number of enforced actions has stayed the same.
equitablegrowth.org/innovation-entrepreneurship/presentation-merger-enforcement-statistics/
For example, in 2014, there were 424 corporate mergers and 41 enforcements.
In 2016 there were 670 corporate mergers, and 46 enforcements.
The key is make enforcements more proportional to merger filings.
The Spirit of Food.com since 1998 not as long as they are rich ass greedy assholes.
The problem is NOT monopolies and the size of corporations. The problem is the OWNERSHIP of corporations. If the ownership of corporations were socialized it would become democratically accountable. That means that the profits could be distributed more equally, workers would get higher wages, it would pay higher taxes and the company would have a social purpose. Since Reich is a liberal progressive to him social ownership is off the table as it is with ALL liberals.
hand out fines as % of net income, you control 100% of a market? you pay double tax and redistribute. if they jack up prices by 20% competitors will have space to grow, if they decrease market share competitors again have space.
In 1956 my dad had a job(draftsman,designer)that paid $5.00 an hour. Today, by the governments own inflation statistics it would take $47.00 an hour to have the same buying power. What happened? The Federal Reserve! The Federal Reserve! The Federal Reserve!
I completely agree with Robert. I remember my grandmother telling me she could remember when bell owned all the telephone companies and wires. And was split up with some states taking control over parts. Thank you.
Fantastic video, thanks for posting. I liked and subscribed.
Great video, will likely share this in several online discussions in the future.
Interesting fact: Rob keeps pointing at companies like Kraft , General Mills and Nestle. They are all owned by one company Altria Group (Formally :Phillip Morris - Marlboro)
Below is full list of PM Brands (Starbucks used to be on list)
Philip Morris List of BrandsSource: Philip Morris Annual Report 2000Tobacco
Marlboro
Virginia Slims
Merit
Parliament
Benson &Hedges
L&M
Chesterfield
Lark
Cambridge
Basic
Selected International Brands*
Apollo Soyuz
Bond Street
Caro
Diana
f6
Kazakstan
Klubowe
Longbeach
Multifilter
Muratti
Peter Jackson
Petra
Philip Morris
Polyot
SG
Vatra
Tobacco
Food
Beverages, Desserts and Cereals
Beverages
Capri Sun �
Country Time
Crystal Light
Kool-Aid
Tang
Coffee
General Foods International Coffees
Gevalia
Maxim
Maxwell House
Sanka
Starbucks �
Yuban
Desserts
Baker's
Balance Bar
Calumet
Certo
Cool Whip
Dream Whip
Ever-Fresh
Handi-Snacks
Jell-O
Knox
Minute
Sure-Jell
Cereals
Alpha-Bits
Banana Nut Crunch
Blueberry Morning
Cranberry Almond
Crunch
Cream of Wheat
Cream of Rice
Fruit &Fibre
Golden Crisp
Grape-Nuts
Great Grains
Honey Bunches of Oats
Honeycomb
Oreo O's
Pebbles
Raisin Bran
Shredded Wheat
Toasties
Waffle Crisp
Biscuits, Snacks and Confectionery
Cookies & Crackers
Better Cheddars
Cheese Nips
Chips Ahoy!
Handi-Snacks
Honey Maid
Newtons
Nilla
Nutter Butter
Oreo
Premium
Ritz
SnackWell's
Stella D'oro
Teddy Grahams
Triscuit
Wheat Thins
Snacks
Cornnuts
Planters
Pet Snacks
Milk-Bone
Confectionery
Altoids
Callard &Bowser**
Creme Savers
Farley's
Gummi Savers
Jet-Puffed
LifeSavers
Milka L'il Scoops
Now and Later
Sather's
Terry's
Tobler
Toblerone
Trolli
Snacks and Confectionery
Aladdin
Artic
Cerealitas
Chips Ahoy!
Club Social
C�te d'Or
Daim
Diamante Negro
Estrella
Express
Figaro
Freia
Guayabita
Korona
Lacta
Laka
Lucky
Maarud
Marbu
Marabou
Merries
Milan
Milka
Oreo
Ouro Branco
Pacific Soda
Pean�tt
Planters
Poiana
Prince Polo
Rhodesia
Ritz
Royal
Shot
Sonho de Valsa
Suchard
Sugus
Tapita
Terrabusi
Terry's
Trakinas
Toblerone
Tita
Convenient Meals and Grocery
Dairylea Lunchables
Fleischmann's
Kraft Delissio pizza
Kraft Lunchables
Kraft ketchup
Kraft peanut butter
Kraft pourables
Magic Moments
Miracel Whip
Mir�coli
Simmenthal
Vegemite
Beer
Miller Lite
Miller Genuine Draft
Miller Genuine
Draft Light
Miller High Life
Miller High Life Light
Milwaukee's Best
Milwaukee's
Best Light
Icehouse
Foster's �
Red Dog
Southpaw Light
Leinenkugel's
Henry Weinhard's
Henry's Hard
Lemonade
Hamm's
Mickey's
Olde English 800
Magnum
Presidente
Sharp's non-alcohol brew
*Not generally available in the U.S.
**International products available in some specialty stores and supermarkets.
�Licensed trademark.
This document's URL is: www.tobacco.org/Resources/00pmbrands.html
Damn. Ok, I'm putting Corn Nuts, Planter's, all my favorite cereals, and Baker's Chocolate on my no-buy list, along with palm oil products and Wal-Mart. It's like becoming a vegetarian, it's only hard at first. Tyvm for reference!
This is a fantastic history lesson. Thank you Robert.
I always have great respect for Mr. Reich ever since I have known him as Secretary of Labor.
Two videos and I’m convinced I need to subscribe, great media Robert
It's funny that capitalists used to critic tthe Soviet Bloc because people there didn't have choice of consumption
Hahahaha! So hilarious
Just proving and demonstrating their 🦛crisy.
So how do we fix these anti anti-trust laws when corporations have this much of a grip on the government?
First off, outlaw political contributions.
And their government puppets in congress,”the gop”,and lobbyists which should be outlawed.
@@mbluett88 The corporations will claim that that would violate the 1st amendment rights of the corporations aka a made-up entity.
Literally the only way is a war. There is no peaceful, nonviolent way out of corruption. Look at EVERY SINGLE CIVILIZATION IN HISTORY if you think I’m wrong. We need a civil war against the richest people and we need to PHYSICALLY take our country back and actually enforce anti trust law. Corrupt never govern themselves and when the illusion of a “vote for freedom” from literal candidates that all represent the same abusers, they will realize I’m right. Hopefully before it’s impossible to overthrow them.
@@MsLucyJayne Who is going to do the lobbying?
welcome to the corporatocracy!
The problem is capitalism.
Bruh, it regulations that crush the small businesses, and helps big ones
@@LolLol-zr9jc monopolies are not small businesses lmao. Anti trust laws affect large corporations like Amazon, Disney, Walmart, not the mom and pop shop down the street.
It's always even worse than you can imagine. We need another Roosevelt
The problem is capitalism.
Under Eisenhower, personal tax rates were much more progressive than they are today - and he was Republican.
So the 2nd Gilded Age is now establishing itself?
This IS the 2nd gilded age.
Teddy, Franklin - please send help! ... crickets ... Guess we will have to do it ourselves. Support the Elizabeth Warrens whenever they stand up in Congress or run for office.
@Frederic Bastiat wage shifts from the top down
@Frederic Bastiat unions are not monopolies the same way corporations are.
@@SFolkes97 Support the liar Phoahountas Warren! The best predictor of future behavior is past behavior but you guys have always been gullible.
I have to applaud Robert Reich for retaining the energy to devote to promoting a better society. He has witnessed the dynamics unfold in this depressing and seemingly hopeless political situation in the U.S. I hope people will listen to him. I hope America will stop fighting wars for corporate profit, instate medicare for all Americans, reduce the financial burden on young people trying to get an education, and make sure that any full-time employment guarantees a living wage by law.
Greedy Devils have destroyed the planet
The problem is capitalism.
Thank you! A perspective all too maligned and targeted for destruction by wealthy elitists! Support your local organic farmers and small businesses!!!
Thanks Robert for making things clear.
THANKS ROBERT! AGAIN! I've followed you for years and always am interested to hear what you have to say because you know what you're talking about and you say what NEEDS to be said! Please! Don't ever stop! I try to propagate your message whenever I feel like I can. And last but definitely not least-and please-I mean this only in the most complementary way-WHY DON'T YOU RUN FOR THE PRESIDENCY?! I mean it! We NEED YOU! And you would mop the floor with the likes of these other embarrassing clowns that ran the last time! If you do-plaese contact me-I will do anything I can do to help! I mean it!!
“Socialism” for the rich
Do glad I found this channel!!
We need Robert Reich in South Korea. Would you please ever come over to explain how unfair the economical system is but why it doesn't looks like that for majority of citizens? Look at Samsung and all its families. Relentlessly expanding itself towards everything, even almost every small convinience stores and domestic restaurants.
No regulations are being made here about those unreasonable markets, even by the most liberal government and congress we've ever elected. Because the corporates' power influence every citizen's income and welfare, which means it's very easy to threaten and compromise those citizens' political stance.
What can we do about this? What options left? Please help Robert. We're at the peak of our liberal political power, and now's the time to do something that really works.
I’m so glad to have found this channel. This guy sounds a lot like Bernie.
And soon every home will be owned by the top 1% as well every hard working person will be a renter or homeless
The problem is capitalism.
Not if we stop them
Nah, mortgages are working fine for the rich and corporations. If only people would see thru the lie that “home ownership”actually exists
Really an outstanding piece. This is the explainer on Antitrust I've been looking for to show to others. ...It's really a crucial issue. Even if you're the biggest pro-market or free-market person, please take a minute to consider how many different industry fields you see that are totally dominated by one or just a couple of major firms.
The firms inevitably start twisting and distorting the market circumstances, either legally or semi-legally or worse. Additionally, modern data studies are constantly coming out that show all kinds of terrible effects. Any balanced review of the current state of Antitrust will conclude that we've allowed the whole regulatory process there to be completely captured by vested interests.
A country that do not have antitrust laws, should as a minimum refuse allowing political donations from companies over a certain size and set a max on how much a private person can donate to campaign funds.
I learn so much from you, Reich! Thank you!
Please put together a list of the companies that are not part of the food empire we we can use them.
farmer's market
i they are awesome.
Frederic Bastiat you are correct, one cannot grow those items.
farmer's market means you are still buying from monsanto and other seed giants. even for eggs and poultry it's better to buy hatchlings or eggs from suppliers because they are more productive.
Sadly I can't get everything I need to survive from my local markets... But if you want to hinder their efforts buy unprocessed raw produce/dairy/meats. There's less profits in them.
A great inventor or businessman with a great idea could ride that idea into something great. These businesses took care of the neighborhood, offered jobs and community programs, and gave these neighborhoods pride. Now the American dream is to kick-start your idea, get as much backing as possible, and hopefully one of these top companies will buy you out. Doesn't sound so dreamy.
How are you supposed to fix a political system when half the country still thinks donald trump is a good president?
I warned people for so long, now it has gone so far that only an extreme action at all levels of our society will achieve revitalization of values, morals and the dream that was once this great nation.
Love your work Robert!
Too big to fail is the single most unamerican thing to happen in my life time. Capitalism only works when your failure leaves a market gap for others to capitalize on
Capitalism was NEVER meant to be a zero sum game. We don't really even have capitalism any longer, we have corporatism.
This is the most informative American economic Antitrust Analysis ever. Great job Robert Reich.
We must end lobbying!
No politicians will all that! But we the people together can.
We're about to reach either the Rollerball future, or the Soylent Green future. Take your pick.
Neither, thank you.
Or idiocracy. Trump and his supporters are proof of that movie becoming a reality
Mad Max future or star trek future
Depends on how strong our government is.
Why can't we have both ?
Well we would first have to have the Mad Max future until it got so bad that the world nearly annihilated itself via nuclear winter before the Star Trek future could come about.
its serious guys. Nestle has even been privatizing water and have been selling it for profit. this has caused rivers to dry up, environmental costs, and a cornering of the market... for water...
Corporations were illegal in the US except for long term infrastructure projects. When the projects were over the corporations were closed. It was only as of 1914 that corporations were allowed to exist legally. You do the math.
wildtwindad wow. (But if corporations are people too, can't they get the death penalty in Texas? :-/ )
wildtwindad - Do you think that had anything at all to do with what happened in 1913?
"December 23, 1913. President Woodrow Wilson signed the Federal Reserve Act on December 1913, ... the development of a central bank."
wildtwindad Thank you. I didn't know that. Need to research this topic.
wildtwindad didn't coca-cola start in 1886 how are they still around if they were illegal at the time.
The Bureau of Corporations was created by Congress on February 14, 1903.
It was created to identify and break up monopoly corporations - such as it did with the world's first and largest multinational corporation, Standard Oil, in 1911.
If corporations were illegal, it would seem a bit silly to establish a bureau for their oversight, wouldn't it?
Robert Reich for President! He stands up for the little guy.
Great content on a high quality channel. Deserves more subscribers!
1. Start your own toothpaste company (I once worked for Colgate).
2. Cat food: Look at Chewy and other sources. A lot more than just two selections.
3. Amazon is winning because it makes shopping easy. Kinda like Sears did 100 years ago.
What's Mr. Reich's points?
Oh, that's right... Government is the Solution!
Great as always!!
One of the few times I completely agree with Reich. We are paying the price for the Reagan deregulation. If we don't revive anti-trust, that will only drive us to socialism. Unless we recover from our narcissism epidemic, that would be very bad.
The Racketing Laws are not being Enforce!
THANKS FOR BEING A GREAT AMERICAN AND INFORM THE PUBLIC !!!
From the country that brought us the board game Monopoly. I effing hate that game...
The only issue with monopolies for me is the dismantling of labor unions. If corporations can be allowed to collaborate and merge why should labor be denied the same in a free market system.
If I'm not mistaken, I learned about anti-trusts between 5th and 7th grade. I guess all that's out the window
Yeah it's out the window. Now all they do is very complicated math to confuse kids not teach them anything.
I am loving your little lectures. Thank you 😊
God, I would love Elizabeth Warren to choose Robert Reich as her Treasury Secretary.
Jacob Flores Yes, Pocahontas would love your face diaper
One detail not mentioned is how those big companies create functional monopolies by mutually agreeing to steer clear of each other's area of operations. This is especially egregious with the telecom giants, to the point where people in many states have no choice but to put up with the sole provider, regardless of how bad and expensive they are.
Isn't this really just the predictable late stages of capitalism playing out? Gradually all the money accumulates with those who are in power and can exploit.... which snowballs over time.
Same in communism or socialist countries
Or worst because they slave you with violence shoot you and only the Stalins and Bolsheviks have money and power not even lawyers can help you. So yes is bad. Only God can help us ...
Yes but don't make it worst. Socialist make it worst. When you were in government you and the presidente gave money to the Rich bankers not the people. So you're a big time very rich Hypocrite. Yes you are part of the problem likewise all your ilk be any political party. Bad boys and girls...
Russia isn't socialism
Russia is communism
They are not the same thing.
USA Is a socialistic country
We tax and spend the tax on stuff, like schools, roads, research, military, ect.
Pure capatalism has no government.
Your corner drug dealer is pure capatalism, his customers and rivals can kill him and he can kill his rivals and customers. That's capatalism in it's purest form. No rules. Just pure greed.
I just want to sit in all your classes. I’ve read all your books. Thank you.
Come to Europe. You could do so many great things over here.
Robert, your channel should be required viewing for everyone!
The problem now is that we live in a globalized world. If America wants to continue to be the leader in many industries they really need these large companies. It would be best for the world if they were broken up, but maybe not for the country. Now if there was some sort of global anti-trust law that could work in all countries that would be awesome, but we are nowhere near a world government like that.
Sir,
YOU are one of my greatest living heroes!!!
Thank You So Very Much...
For Filling My Mind With Hope!!!
Very Respectfully,
Phil Laserna, Thinker, Daddy, Warrior For Peace,
Chief Petty Officer, United States Navy, Retired
We're living in the 2nd Gilded Age
There are tons of ways corporations get around antitrust laws. For example, 50+ years ago, AT&T started basically carrying small phone companies so no one could say "monopoly." Then there's the fake competition, like car companies, oil companies, etc.
All the oil companies are owned by the same shareholders, so technically there is no competition. Try questioning why the US will never allow foreign oil companies from Asia to sell its oil in America? Because that would significantly reduce the cost of oil to consumers and challenge the monopolies in US.
10:18 You just proved why Big Government is the danger, not natural monopolies!
Please do not stop making these excellent videos. Also, who can we trust to represent our best interests when so many politicians are either clueless or in the pockets of the very corporations that prey on the powerless consumer. our current president appears to be efficient at promoting himself through tall tales and shameless inaccuracies but little else. Is there anyone out there who will genuinely protect not only our best interests but also legitimately make sound decisions to lead the United States towards a brighter future?
Before this video, I thought we still had antitrust laws 🤯
We do, but the antitrust laws are no longer being enforced.
- The DoJ tried to breakup IBM when IBM had over 60% market share. What happened? IBM stonewalled DoJ. Eventually DoJ gave up and the US Attorney General became IBM's chief council.
- With the limit on corporation campaign contributions now erased, if an administration goes after a monopoly, the monopoly can fund the administration's opponents in retaliation. Senators will find ways to oppose the antitrust effort.
Brandon Winchester
Where have you been? Hiding under a rock?
Usually, the enemies of the monopolies want government control, and government control is the worst monopoly
Andrew Yang 2020! The American Public needs to evolve to UBI
Sky Dravier You need to speak to Cuban Americans. They’ll set you straight real quick
Fantastic job easy to understand. A must see for all the classrooms in America get it to the all the schools! YA!
3:03 ???really, with NO explanation of how
He explained it.
As a liberal I knew the market structure was bad but this has made me aware of the monopolization of America. Thank you, Robert!
U forgot ride sharing companies well pso
When it's for corporations it's "good business," but when its for the people it's "Socialism." Got it...
Beware of "Big Hanger" making moves on our way of life!
4 years later, rings even truer.
Even his video is posted on a Monopoly called TH-cam. Unfortunate too ;)
PMPEducator / I guess you've never heard of D.tube or BitChute or LBRY? Everything is a monopoly if you don't even look around.
Wrong.
There go my warm and fuzzy memories of Disneyland and the Monsanto exhibit in 1968.
i guess no one really care about this
They will when they can't eat or buy simple daily things