Innovation requires huge piles of private capital.
People should have the freedom to succeed and become rich.
Becoming rich is the incentive that drives investment, productivity, and innovation. No innovation ever came out of socialist countries.
How are you defining a 'monopoly'? Google has literally hundreds of competitors, as does Amazon.And huge risks.
But what is NOT happening is anti-monopoly laws are not enforced. Amazon, Google, Apple are too big to fight, too big the break up - though particularly Amazon and Google are the largest monopolies to exist in world history. They are so powerful that they wipe out entire companies at a whim, even just triggered by some computer software or insider dealing.
It takes money to innovate, but mega billions is its own weapon and own money maker. It also buys political influence. For example, we-the-people subsidize every Amazon Prime package $1.48 per package. No other merchant gets Amazon's low mailing rates. No other merchant gets 1 day shipping for the price of general delivery. $3 billion a year of Bezos money comes from the government subsidizing his shipping - no one else's.
Amazon and Google are known to just instantly surprise ban a company - no communication - and overnight the entire company is destroyed and everyone lost their job - with no reason given and no appeal. Maybe someone in Amazon or Google has a relative who wants or has that business too. These companies are so massively wealthy they truly do not care if they lose a multi-million dollar account.
(Let's pretend everything is spelled correctly in the title.)
(Let's pretend everything is spelled correctly in the title.)
The top 10% of wealthy Americans own 70% of America's wealth.
The top 10% of wealthy Americans own 70% of America's wealth.
(Let's pretend everything is spelled correctly in the title.)
How much of my wealth do you own?The top 10% of wealthy Americans own 70% of America's wealth.
I oted no because I am a big NFL fan and team owners have to be billionaires to do their jobs. There is no NFL (or NBA, NHL, and MLB) without billionaires owning all the teams. Job losses go both ways: People can work for billionaires who create jobs. Or they can work for small businesses that, as a result of a simialr corporation's size, go out of business. Will the people who work for big companies lose their jobs if the monopolies are broken up? Probably. What about those one-of-a-kind businesses? It is impossible for anyone to win if they are eliminated just because their owners are billionaires. There will always be a benefit to having super-rich Americans. That said, it is absolutely necessary to break apart monopolies if we are going to keep all the smaller businesses alive and operating for a long time. The number of billionaires need to go down to help the economy.
Notice Bernie didn't say "millionaires shouldn't exist?"
Bernie is a millionaire.
It's hypocrisy.
Agree and disagree maybe ?
I'm not sure we want some government policy/law/bureaucracy deciding such things though. That always seems to end up making bigger, long-term troubles later.