We're being pickpocketed
22/07/22
We're being pickpocketed. Tea-leafed. We are being systematically fleeced, shaken down and gouged by what looks to be a pattern of corporate arrogance.
There's something else going on other than just lack of competition regulation. I think it's inequality. Look into the salaries of oligopoly executives and you routinely find million-dollar salaries, often multimillion. They are out of touch. I don't mind big incomes for entrepreneurs (so long as they pay fair wages and their share of tax), but these are not start-ups making a killing with innovative ideas and disrupting tired business models. The executives are not risking their own coin.
Full column here.
There's something else going on other than just lack of competition regulation. I think it's inequality. Look into the salaries of oligopoly executives and you routinely find million-dollar salaries, often multimillion. They are out of touch. I don't mind big incomes for entrepreneurs (so long as they pay fair wages and their share of tax), but these are not start-ups making a killing with innovative ideas and disrupting tired business models. The executives are not risking their own coin.
Full column here.