Angelo Giuliano 🇨🇭🇮🇹 (@angeloinchina) “US market > This isn’t free-market capitalism anymore. It’s a monopoly-rent extr” — TopicDigg
Angelo Giuliano 🇨🇭🇮🇹
@angeloinchina
In China since 1995, geopolitical/financial analyst. YT channel
加入 July 2020
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US market > This isn’t free-market capitalism anymore. It’s a monopoly-rent extraction machine that rewards the connected few at everyone else’s expense.
Top 1% of U.S. firms now capture 82% of all corporate revenues >>> up 22 points since the 1950s.
The top 20 companies alone control nearly 50% of all sales — up 10 points since the 1980s.
Corporate profits after tax are running at ~12% of GDP, more than double the levels from 2001.
Decades of weak antitrust enforcement, regulatory capture, lobbying power, barriers to entry, and corporate welfare have created this rigged system.
Mega-firms build moats, crush competition, and hoard the gains while smaller businesses and workers get the scraps.
This is how you hollow out an economy and concentrate power.
Not innovation >> entrenchment. Not competition >> capture.
The American economic model is badly broken.
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US corporate revenues have never been this concentrated:
The top 1% of US firms by sales now account for a record ~82% of all corporate revenues.
This percentage has risen +22 points since the 1950s.
The top 20 firms alone account for a record 50% of all US corporate sales.
Concentration has increased +10 percentage points since the 1980s.
At the same time, corporate profits after tax as a proportion of US GDP stand at 12%, near an all-time high and more than double 2001 levels.
This means a shrinking number of companies are capturing a growing proportion of both revenues and profits across the entire economy.
The market and economy have never been more concentrated.
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