market power is, in large part, determined by political decisions. 3, the thesis was sympathetic to Alinsky's critiques of government antipoverty programs, but criticized Alinsky's methods as largely ineffective, all the while describing Alinsky's personality as appealing. Second, how would you get the political power to make those policies happen? Furthermore, trade should have produced a shift in employment toward more skill-intensive industries; it couldnt explain what we actually saw, which was a rise in the level of skills within industries, extending across pretty much the entire economy. The difference was politics: US policy turned hostile toward unions in the 1980s, while Canadian policy didnt follow suit. The result is a sort of spiral, a vicious circle of oligarchy. Monopolists get to set the price of their product; monopsonistssole purchasers in a marketget to set the price of things they buy. Dedman found that the thesis did not disclose much of Rodham's own views.
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Something else began happening after 2000: labor in general began losing ground relative to capital. Catharsis has a way of perpetuating itself so that it becomes an end in itself. And this divergence evidently had little to do with education, since hedge fund managers and high school teachers have similar levels of formal training. Suppose that we hypothesize that rising market power, rather than the ineluctable logic of modern technology, is driving the rise in inequality. A b c d Peter Slevin, "For Clinton and Obama, a Common Ideological Touchstone", The Washington Post, March 25, 2007. Its increasingly clear, however, that this was both an intellectual and a policy error. Economists struggling to make sense of economic polarization are, increasingly, talking not about technology but about power. But in that case, what is going on? He is definitely not putting his moneyor, rather, your moneywhere his mouth. Jim Young/Reuters Jeb Bush, Donald Trump, Ben Carson, and Ted Cruz at the Republican presidential debate in Milwaukee, November 2015. The rise in market power reflects a turn away from antitrust laws that looks less and less justified by outcomes, and in some cases the rise in market power is the result of the raw exercise of political clout to prevent policies that would limit.