Joanna Bryson, blathering
CC is very happy about all the mention of power. What are the disfunctions that power inflicts on economies? #antitrust
Isabella Weber: prices were stable, TOO stable, how could we have been in a world of immense corporate power?
Gabriel Zucman: you can't talk about #antitrust or power without talking about tax. In US the effective corporate tax rate GLOBALLY for US companies has declined from 50 to 20 %, a lot by evasion, though some by democratic choice, but a LOT by evasion, tax havens.
Joanna Bryson, blathering
Zucman: money made in India or US is being taxed in IE & LX, about HALF of evasion is being done with EUROPEAN tax havens(!!!!) Though now he talks about Bermuda Google & Alphabet booked several hundred BILLION in Bermuda, where tax rate is 0%. #antitrust #power #corruption #inequality it's a global problem across countries and sectors. Hard to quantify, but likely contributes to the market concentration. Easier to do with best lawyers. This is a deep failure of enforcement.
pettter
@j2bryson If enforcement of laws and regulations is lopsided and discretionary, mostly in favour of the already rich and powerful, do we have a word for that?
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