Saturday, December 8, 2018

Robert Reich: Break Up Facebook (and Google, Apple, and Amazon)

Moderator: Why are two amazons better than one? Why is scale bad? I doubt breaking up these enterprises will raise wages or benefits for their employees, or workers generally. Bernie's $15 campaign against Amazon had more effect because Amazon IS SO LARGE.  None of them seem to be suffering the usual effects of monopoly, a lack of innovation. At  least not yet.

I think the remedy, if there is one, for too big to fail corps is additional public oversight rights,at the Director, Stockholder (Stakeholder) levels, in exchange for the greater public health safety security and economic risks associated with large-, global-scaled criminal or dangerous conduct, made too powerful to supervise by Citizens United and rising inequality, especially in political and legal access.

Too big to fail corps, or strangle holds on public information and media, require more 'socialization' remedies, not more privatized competition. This should not trouble Jeff bezos all that much: Amazon Web services itself bills its services practically as public goods, as "things everyone that computes has to do" that just gets in the way of more user innovation. Pretty much like a Road, or Bridge. More socialism (but not more than we can swallow), Less capitalism (but enough to persist development in scarce goods and services). More free and cheap stuff to live -- abundance is the ultimate benefit of scale.. More opportunities to perform services for each other. 

Reintroduce the golden rule in resolving commercial relations between nations and peoples, and, in a democracy, social classes: "Do not demand of your partner concessions you would not yourself accept in their position"


Robert Reich

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