Counterfeit Capitalism: Why a Monopolized Economy Leads to Inflation and Shortages - by Matt Stoller - BIG by Matt Stoller
▻https://mattstoller.substack.com/p/counterfeit-capitalism-why-a-monopolized
American commerce, law, finance, and politics is organized around producing bottlenecks, not relieving them. And that means when there’s a supply shock, we increasingly can’t take care of ourselves.
The scariest part of this whole saga is not that a bunch of malevolent monopolists run our economy, inducing shortages for profit. Indeed, these shortages are not intentional, any more than the financial crash of 2008 was intentional. Most of what is happening is unintended. Bad actors aren’t steering the ship. They are just making sure that no one else can, even when it’s headed for the rocks.