Look: I am eager to learn stuff I don't know--which requires actively courting and posting smart disagreement.

But as you will understand, I don't like to post things that mischaracterize and are aimed to mislead.

-- Brad Delong

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Saturday, January 2, 2010

Who Needs Robot Overlords?

We have Corporations.

“Between 1950 and 1971 the 200 leading U.S. corporations increased their control of all U.S. manufacturing assets from 46 to 87 percent. By 1971 the assets of the top 100 equaled those of the other 194,000 corporations."*
 
That was almost 40 years ago folks.  Imagine what it is like now.  Small business is the growth engine for the American economy, but its presence is insignificant.

Context and elaboration here.  Read it and weep.

UPDATE:  More somewhat related context from:

John Quiggin

Paul Krugman

UPDATE 2: and WaPo**, too.
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* This is a 2nd or 3rd generation quote, original quote from: American Global Enterprise and Asia Journal article by Mark Selden; Bulletin of Concerned Asian Scholars, Vol. 7, 1975
** OK.  Neil Irwin, but that messes up the rhyme scheme, and what else do we have?

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