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Noam Chomsky (2014) "How to Ruin an Economy; Some Simple


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2014 Feb 20, 2:41am   47,304 views  271 comments

by ChapulinColorado   ➕follow (0)   💰tip   ignore  

http://www.youtube.com/embed/6mhj-j0z-fk

Chomsky argued that certain factors, among them cutting federal funding for research and development and the growing gap between the richest 1 percent and everybody else, have led to the country's current economic climate.

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269   spydah_hh   2014 Mar 9, 5:39am  

control point says

whereas their competitors do not have a large enough foothold to do so.

You don't need to be large to compete with big business you just need to be more efficient.

control point says

Everything you think about Standard Oil is made up bullshit that is all over the place at mises.org. The truth couldn't be farther from what you believe.

Let me shed some light.

The Sherman Antitrust Act prohibits the restraint of trade. Defenders of Standard Oil insist that the company did not restrain trade; they were simply superior competitors. The federal courts ruled otherwise.
Some economic historians have observed that Standard Oil was in the process of losing its monopoly at the time of its breakup in 1911. Although Standard had 90 percent of American refining capacity in 1880, by 1911 that had shrunk to between 60 and 65 percent, due to the expansion in capacity by competitors.[43] Numerous regional competitors (such as Pure Oil in the East, Texaco and Gulf Oil in the Gulf Coast, Cities Service and Sun in the Midcontinent, Union in California, and Shell overseas) had organized themselves into competitive vertically integrated oil companies, the industry structure pioneered years earlier by Standard itself.

Go brush up on your history because clearly you don't know damn thing about it.

http://en.wikipedia.org/wiki/Standard_Oil#Legacy_and_criticism_of_breakup

270   control point   2014 Mar 9, 9:37am  

spydah_hh says

o brush up on your history because clearly you don't know damn thing about it.

http://en.wikipedia.org/wiki/Standard_Oil#Legacy_and_criticism_of_breakup

Chief, there isn't one single thing that you or wikipedia can teach me about Standard Oil that I haven't already known and debated on patrick.net multiple times.

271   ChapulinColorado   2014 Apr 12, 1:53am  

let's try to stay civil.

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