A Quote by Eric Kierans
This is the standard procedure for corporate growth these days; one company buys up another on loans that are floated on the basis of future earnings, and the monopoly or oligopoly created in this way produces the necessary funds by squeezing out competition, and passing the costs along to the consumer. The bucket that holds the new wealth is called a corporation.
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If a company is not a monopoly, then the law assumes market competition can restrain the company's actions. No problem. If a monopoly exists, but the monopoly does not engage in acts designed to destroy competition, then we can assume that it earned and is keeping its monopoly the pro-consumer way: by out-innovating its competitors.
Unlike the days of the gold standard, it is impossible for the Federal Reserve to go bankrupt; it holds the legal monopoly of counterfeiting (of creating money out of thin air) in the entire country.
When you buy enough stocks to give you control of a target company, that's called mergers and acquisitions or corporate raiding. Hedge funds have been doing this, as well as corporate financial managers. With borrowed money you can take over or raid a foreign company too. So, you're having a monopolistic consolidation process that's pushed up the market, because in order to buy a company or arrange a merger, you have to offer more than the going stock-market price. You have to convince existing holders of a stock to sell out to you by paying them more than they'd otherwise get.
Ultimately, I don't think even a five-company platform oligopoly is good for consumer tech. By its very nature, it handicaps independent companies with new ideas. But it will end one day. I just don't know when.
Even President Bush has cited the need to outlaw the practice of corporations making loans to their officers. Strangely enough, when the President was a corporate officer, he took out several loans from the company.
The Constitution guarantees protection to property, and we must make that promise good. But it does not give the right of suffrage to any corporation. It is necessary that laws should be passed to prohibit the use of corporate funds directly or indirectly for political purposes; it is still more necessary that such laws should be thoroughly enforced.
The great danger to the consumer is the monopoly -whether private or governmental. His most effective protection is free competition at home and free trade throughout the world. The consumer is protected from being exploited by one seller by the existence of another seller from whom he can buy and who is eager to sell to him. Alternative sources of supply protect the consumer far more effectively than all the Ralph Naders of the world.
Since loans are getting more expensive and there's less money available, we're seeing a commensurate decline in growth. Higher costs and lower growth, in turn, translate into lower profits. Figuratively speaking, in the future, we won't be able to run as far or jump as high as we used to.
One has to know more about a company if one buys earnings.
The rate of growth of the relevant population is much greater than the rate of growth in funds, though funds have gone up very nicely. But we have been producing students at a rapid rate; they're competing for funds and therefore they're more frustrated. I think there's a certain sense of weariness in the intellectual realm, it's not in any way peculiar to economics, it's a general proposition.
The mere possession of monopoly power, and the concomitant charging of monopoly prices, is not only not unlawful, it is an important element of the free-market system. The opportunity to charge monopoly prices - at least for a short period - is what attracts 'business acumen' in the first place; it induces risk taking that produces innovation and economic growth.
If you want to reach your potential and become the person you were created to be, you must do much more than just experience life and hope that you learn what you need along the way. You must go out of your way to seize growth opportunities as if your future depended on it. Why? Because it does. Growth doesn't just happen--not for me, not for you, not for anybody. You HAVE TO go after it.
The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.
Who can object to a monopoly when any new company, if it is built around a scientific nucleus, can create a new monopoly of its own by creating a wholly new field?
When Corporate America finds a Jayson Blair in its midst, the standard operating procedure is to circle the wagons and deny that any form of liability extends up the chain of command.
Competition for the future is competition to create and dominate emerging opportunities-to stake out new competitive space. Creating the future is more challenging than playing catch up, in that you have to create your own roadmap.
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