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11 Jan, 4 tweets, 2 min read
Despite what some economists may say, concentrated corporate power is driving shortages and price hikes across every sector of the U.S. economy.

@matthewstoller has laid this out time and time again.
washingtonpost.com/us-policy/2022…
2/ Let’s be clear: these aren’t new issues.

Prior to the COVID-19 pandemic, @matthewstoller predicted that a supply chain crash would accompany a global public health crisis.
wired.com/story/covid-19…
3/ But in recent months it has become increasingly more obvious that from railroads to plastic bags to semiconductors to ice cream, Wall Street and monopolists are the ones creating shortages and exploiting them.
mattstoller.substack.com/p/counterfeit-…
4/4 While corps are raking in bigger profits, consumers are the ones paying the price (literally).

Just last week @matthewstoller found that inflation is costing everyday Americans an additional $2,126. And at the center of the problem is corporate greed.
mattstoller.substack.com/p/corporate-pr…

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More from @econliberties

American Economic Liberties Project Profile picture
12 Jan
Today’s #CPI release shows year-over-year inflation increased to 7.0%.

As a detailed investigation by @matthewstoller recently found, corporate profits are driving roughly 60% of price-hikes.
mattstoller.substack.com/p/corporate-pr…
2/ @MorePerfectUS spelled it out too: corporations are using the narrative of hyper-inflation as an excuse to raise prices on consumers, so they can make themselves more $$$.
3/3 You simply cannot understand what is going on with inflation *without* taking a look at corporate power.

More from @Groundwork too ⬇️
Read 4 tweets
American Economic Liberties Project Profile picture
11 Jan
As we explained back in August, the @FTC's revised suit provided detailed proof of @Facebook’s >60% market share + laid out the copy-acquire-kill strategy @Facebook has used to build this unprecedented and dangerous power.

THREAD 🧵👇
2/ The case represents today’s new-look @FTC jumping at a chance to right the commission’s previous wrongs.

It included a strong Section 2 claim and clearly explained the anticompetitive nature of @Facebook's acquisitions of @WhatsApp and @Instagram.
3/ The case is also a crystal clear example of the @FTC's new commitment to pursuing economic fairness and meaningful competition, no matter how powerful the enemies it makes doing so.
Read 10 tweets
American Economic Liberties Project Profile picture
11 Jan
Today’s record-shattering merger frenzy is supercharging the concentration of wealth and power in America.

Our new policy quick-take shows the consequences of the merger boom and outlines solutions for policymakers to save jobs and slow inequality.
economicliberties.us/our-work/merge…
2/ The brief specifically finds many record-breaking stats in 2021, including:
⚠️merger activity reached $5.8 trillion
⚠️private equity spent more than $1 trillion on deals
⚠️banks announced a larger total deal value in M&As in the first half of 2021 than all of 2020
3/ The creation and preservation of good jobs, the revitalization of small business, and the promotion of competitive markets are essential to a healthy, resilient, and just economy.
Read 11 tweets
American Economic Liberties Project Profile picture
10 Jan
Happy first #MonopolyMonday of 2022! 🎉

We’re excited to kick off yet another year by spotlighting countless monopolies and their broad range of harms

But this week, we’ll be discussing important work happening at the @FTC lead by antimonopoly champion @linakhanFTC.
2/ In June 2021, @linakhanFTC was appointed chair of the @FTC.

Since then, the agency has entered a new era of more effective, modern, and democratic enforcement to better protect consumers, workers, and independent businesses.
3/ While navigating a leadership transition during a pandemic, a merger wave, and unprecedented economic dominance driven by rampant concentration, @linakhanFTC steered the @FTC to protect families & businesses with stronger law enforcement.

🧵👇 for specific examples.
Read 12 tweets
American Economic Liberties Project Profile picture
30 Nov 21
Inflation panic is everywhere — and for good reason. All across the economy, people are being charged more than they should be for the things they want and need. And naturally, they want to know why.
2/ There’s a quick way to check if a story you’re hearing about inflation is credible: Does it account for corporate profit margins, and acknowledge they are at record highs?

This piece does a nice job of explaining the role of profit here: bloomberg.com/news/articles/…
3/ Other things to understand:

1️⃣ The economy is running very hot and corporations are hoarding whatever they can.
2️⃣ When their costs go up, they pass them on to customers. But when their costs go down, they pocket the difference. This is why shoppers are feeling pinched.
Read 10 tweets
American Economic Liberties Project Profile picture
29 Nov 21
Systemic monopolization is the root cause of the widespread shortages and dramatic price hikes hitting businesses, workers, and families across the country.

With its new study, the @FTC will help policymakers better understand how concentrated power is eroding supply chains.
2/ We’ve been sounding the alarm about the disastrous effects of consolidated corporate power & supply chains prior to COVID-19.

In February 2020, @matthewstoller predicted in @WIRED a supply chain crash would accompany a global public health crisis.
wired.com/story/covid-19…
3/ And at our inaugural event in March 2020, we discussed the threat concentrated economic power poses to our supply chains w/ @repmarkpocan, @ddayen, @RushDoshi, @sarahmillerdc & Lucas Kunce.
Read 6 tweets

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