Our economy is based on capitalist ideals. Or is it?
We live in a capitalist society. Ideally, that means we enjoy a free market economy based on private ownership and competitive supply and demand.
But what happens if the competition part falls away? If Amazon accounted for 44 percent of all U.S. e-commerce last year, who can compete with that?
Your guides in answering that and other questions are Jonathan Tepper and Denise Hearn, the authors of “The Myth of Capitalism: Monopolies and the Death of Competition.” They were joined in discussing the themes of their new book by the following panelists:
- Nicole Vallestero Keenan-Lai, executive director of Puget Sound Sage
- Nick Hanauer, co-founder and partner in the venture capital firm Second Avenue Partners
- Economist and author John Perkins
- Rachel Lauter, executive director of Working Washington and the Fair Work Center.
Some of the potentially obscure concepts discussed: Homo Economicus, predatory capitalism, monopsony, rational oligopoly and “sexy new anti-trust attorneys.”
Please note: This recording contains unedited language of an adult nature.
Listen to the full versions below: