by Economies are not delivering for most citizens because of weak competition, feeble productivity growth and tax loopholes I haven't been able to read a FT article for two weeks, but today the paywall let me in. FT must allow people to read an article for free from time to time. This is an excellent article describing what is wrong with present capitalist system, and it goes over a lot of different areas.Martin Wolff describes the feedback loop where certain companies can attract the best talent because they can offer the best wages, and then these people help to keep the company ahead by increasing sales, and so the company becomes richer and can attract more of best talent, and so on. But Martin Wolff says how this is a form of monopoly which affects the rest of the economy and other
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Economies are not delivering for most citizens because of weak competition, feeble productivity growth and tax loopholes
Martin Wolff describes the feedback loop where certain companies can attract the best talent because they can offer the best wages, and then these people help to keep the company ahead by increasing sales, and so the company becomes richer and can attract more of best talent, and so on. But Martin Wolff says how this is a form of monopoly which affects the rest of the economy and other cities. And without enough competition these companies can extract rent.
in unproductive, useless directions.-activities.pdf
FT
Martin Wolff - Martin Wolf: why rentier capitalism is damaging liberal democracy