Over a century ago, U.S. legislators passed the Sherman Anti-Trust Act to resolve a number of issues related to monopolistic trade practices: large oil and steel firms merging and stifling competition; railroads price discriminating to keep rivals out; and collusive backdoor agreements that undermined the American ideal of free markets. Theodore Roosevelt and subsequent presidents used the Sherman, and later Clayton, Acts to break up these large companies, allowing for lower consumer prices, greater competition, and more economic freedom for all.
Google, Amazon, and Facebook are a far cry from Rockefeller’s Standard Oil or Carnegie’s U.S. Steel — the Internet…
Italy is home to many of the world’s largest firms. Automotive manufacturers like Ferrari, Ducati, and Fiat; fashion designers like Prada, Gucci, and Valentino. These and a host of other multinational corporations headline the Italian economy.
But what many do not know is that Italy is the home of a thriving cooperative sector as well — employee-owned enterprises. In one region of Italy, Emilia Romagna, a third of GDP is generated by these worker-owned firms. The entire community benefits from this structure: Emilia Romagna boasts the highest median income and lowest unemployment in Italy.
Paramount to the success of these…
Here’s the bottom line: The rich are getting richer, everyone else is getting poorer. That’s not a talking point. It’s true and measurable. Why is it a problem? Because if it continues, we’re going to wind up with an even more volatile society in which everybody hates each other and is consumed by envy. Along the way, capitalism itself will be discredited, and you don’t want that.
Tucker Carlson is certainly not the typical conservative. One can find on his show an uncommon admission of the power of income inequality. Unlike Sean Hannity, an apologist for the quite obviously crumbling…
America is universally heralded as the land of opportunity. Our cities are a destination for inventors, innovators, and the ambitious, united by the principle of striking it out independently and creating something we own.
However, for the millions of Americans who don’t own capital, the barriers to entry can seem incredibly high — and the prospect of financial ruination that comes with business failure discourages thousands of potential entrepreneurs.
While many credit America’s intense market focus and small government with business success, evidence shows the welfare state can play a decisive role in encouraging entrepreneurship. Systems in European mixed economies…
In election year 2020, division and polarization are rife. But if there’s one fact the American people can agree on, it’s this: Joe Biden is certainly not an exciting candidate.
A mere 24% of those who intend to vote for Biden say they are excited to do so, compared to 53% of Trump voters. Will this end in his defeat? Maybe, maybe not. But Democrats should be deeply concerned their next leader can neither command respect or offer an inspiring vision of the future. So what kind of candidate could excite the country?
Look no further than Depression-Era Democratic governor…
“No one can save Gotham. When a forest grows too wild, a purging fire is inevitable and natural. Tomorrow the world will watch in horror as its greatest city tears itself apart, through fear. The movement back to harmony will be unstoppable this time.”
Henri Ducard, Batman Begins
Christopher Nolan’s Batman films are considered some of the best comic-based films ever produced. They are visually stunning, action-packed, and boast excellent soundtracks. But the Batman films also carry a unique philosophical message that increasingly appears today.
Bruce Wayne’s enemies, the League of Shadows, attempt to correct the problems they see in…
Our 40th president, Ronald Reagan, once described the nine most terrifying words in the English language as “I’m from the government, and I’m here to help”. But as modern nations like Germany, Canada, and China use state intervention to guide their industries into the future, America’s near-religious pursuit of laissez-faire economics shows signs of backfiring.
While headlines highlight foreign plans such as “Made in Germany 2030”, “Belt and Road Initiative”, and “Industry Canada”, the U.S. has seemingly made the choice to sit on the sidelines. …
“The stock market isn’t the economy. The economy is production and jobs, and there are shortfalls in virtually every sector of the economy.”
Janet Yellen, Former Federal Reserve Chair, 2020
What first comes to mind when you’re asked about the economy? To most Americans, it’s the stock market. GDP, trade deficits, or unemployment for more financially savvy types. But with 2020’s pandemic and economic crisis, it is increasingly clear that these metrics fail to paint an accurate picture of how the average American experiences the economy.
One can daily hear Fox Business and CNBC business pundits touting the great strides…
The Ludlow Massacre is a dark stain on the fabric of American history. In April 1914, members of Colorado’s National Guard mobilized by John D. Rockefeller, Jr. attacked and set fire to the town of Ludlow. Their intention — to brutally disperse a labor strike for better conditions. The ensuing chaos would claim the lives of over 50 miners and 13 women and children.
“You can change what you do, but you can’t change what you want.”
Debuted in 2013, Steven Knight’s award winning series “Peaky Blinders” tells the tale of a familial gang of Gypsies struggling to move up in 1919 Birmingham, England. In a time of unfettered capitalism, turf wars, and political chaos one thing is clear — it will take stone-cold ambition to get to the top.
Cillian Murphy plays Thomas Shelby, the Peaky Blinders’ ambitious leader. From the start, it is apparent that Thomas will stop at nothing to move up the ladder and escape his childhood poverty.
Michigan Native │ Economics & Finance │University of Michigan