Breaking the Chain

Harper's Magazine ^ | July 2006 | Barry C. Lynn

[Sam's Army]

"For a generation, big firms have enjoyed almost complete license to use brute economic force to grow only bigger."

Huh. My company missed out on this, and to think we shoulda relied on brute force instead of tired old cliche's like customer satisfaction and supply and demand.

[Uncle Miltie]

Shhhhhh!!!!!

You'll give away the secret, and even A. Pole and Willie Green could get rich.

[Uncle Miltie]

"For a generation, big firms have enjoyed almost complete license to use brute economic force to grow only bigger."

Company, Bankruptcy Date, Total Assets
Pre-Bankruptcy Filing Court District

Worldcom, Inc. 07/21/2002 $103,914,000,000 NY-S
Enron Corp.* 12/2/2001 $63,392,000,000 NY-S
Conseco, Inc. 12/18/2002 $61,392,000,000 IL-N
Texaco, Inc. 4/12/1987 $35,892,000,000 NY-S
Financial Corp. of America 9/9/1988 $33,864,000,000 CA-C
Refco Inc. 10/17/2005 $33,333,172,000 NY-S
Global Crossing Ltd. 1/28/2002 $30,185,000,000 NY-S
Pacific Gas and Electric Co. 4/6/2001 $29,770,000,000 CA-N
UAL Corp. 12/9/2002 $25,197,000,000 IL-N
Delta Air Lines, Inc. 9/14/2005 $21,801,000,000 NY-S
Adelphia Communications 6/25/2002 $21,499,000,000 NY-S
MCorp 3/31/1989 $20,228,000,000 TX-S
Mirant Corporation 7/14/2003 $19,415,000,000 TX-N
Delphi Corporation 10/8/2005 $16,593,000,000 NY-S
First Executive Corp. 5/13/1991 $15,193,000,000 CA-C

[Question_Assumptions]

Concentration of Power does not necessarily require a monopoly.

[Mase]

That's a great book and contains the best advice I've ever read on how to become independently wealthy. It should be mandatory reading in every school class that has anything to do with personal finance.

Of course, others here will think the only way to become a millionaire in this country is to rip off your fellow man by participating in the free market and practicing capitalism without a face.

[Mase]

Not everybody is as dumb as you and Willie.

I don't think this thread is turning out like he intended. LOL!

[Uncle Miltie]

"Concentration of Power does not necessarily require a monopoly."

Dear G-d:

Allow my competitor a "Concentration of Power" and let them try to abuse it, for therewith lie my riches.

[A. Pole]

"Not everybody is as dumb as you and Willie."
I don't think this thread is turning out like he intended. LOL!

Do not worry, I take your insults as compliments :)

[A. Pole]

I have a trick question for you. Are you opposed to the anti-trust laws? Can you provide the reason for yes or no?

[Uncle Miltie]

"Are you opposed to the anti-trust laws? Can you provide the reason for yes or no?"

I am opposed to certain parts. For example, IIRC courts have held that concentration within an industry by itself can constitute a violation. That is wrong. If a supplier is just the very best and happens to enjoy that concentration without having broken another law, then the effect of anti-trust law is to harm the best supplier.

Under such a regimen, the less competent are lifted up, and the competent are held down. Buyers are harmed.

That's evil.

[nopardons]

Palecons are an anachronistic group, who need to pry themselves out of the early 19th century and join the real world.

[A. Pole]

I am opposed to certain parts.

Which parts do you support?

For example, IIRC courts have held that concentration within an industry by itself can constitute a violation. That is wrong.

It "can[not] constitute a violation"?

[nopardons]

That's some group of losers! LOL

[A. Pole]

Palecons are an anachronistic group, who need to pry themselves out of the early 19th century and join the real world.

Like you who said once: "Why should I move to Mexico? I have a maid and a platoon of gardeners here."?

[nopardons]

I see the Commie is still posting garbage; garbage that he doesn't understand at all, but with which he agrees, because they are pushing laws, laws, and yet more laws to ground America to a halt. LOL

[Question_Assumptions]

Allow my competitor a "Concentration of Power" and let them try to abuse it, for therewith lie my riches.

Not if they are powerful enough to manipulate your suppliers or clients.

[nopardons]

BRAVO!

That was PERFECT! LOL

[Uncle Miltie]

"Not if they are powerful enough to manipulate your suppliers or clients."

I can run circles around anyone who tries that silliness. A little creativity, and I could crack any monopsony that refuses to use guns.

[Nowhere Man]

Raw materials are virtually irrelevant in a knowledge based economy.

Hey, this is great news. We do not need to worry about import of oil anymore!

I wonder if I can run my car on knowledge or power up my TV on knowledge?

[nopardons]

America's Horatio Algers did NOT stop being, at the end of WW I!

The two YouTube guys just sold their thing to GOOGLE for well over a BILLION DOLLARS! :-)