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What's Eating the Economy?
Jun 17, 2024
Matt Stoller, Research Director for AELP, discusses the impact of monopolies on the economy, market consolidation in grocery shopping, and the illusion of choice created by big conglomerates. He explores economic termites driving up costs and inflation, emphasizing the need for political solutions to address power dynamics and bring fairness to the marketplace.
23:01
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Quick takeaways
- Small price increases from economic termites can lead to significant market impacts.
- Algorithms enable price coordination and consolidation, affecting consumer choice and market competition.
Deep dives
Understanding Economic Termites
The podcast delves into the concept of 'economic termites,' small factors that lead to rising prices and economic challenges. Matt Stoller introduces the term, highlighting how seemingly insignificant price increases, like those driven by industrial gas companies, can have widespread impacts across various industries. Consolidation and monopoly power contribute significantly to this economic phenomenon, as firms gain control over markets and dictate terms, affecting pricing and competition.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode