Industrial Giants Are a Major Block

A. Coskun Samli

Chapter Chapter 3 in Dynamic Markets and Conventional Ignorance, 2014, pp 25-35 from Palgrave Macmillan

Abstract: Abstract Although all companies have got wherever they are by using the market mechanism, when they reach a certain point they appear to be ignoring their origin. Once they reach certain gigantic size, in “good” economic times they become very “capitalistic,” insisting on keeping all that they have gained. They become very anti-governmental and anti-taxes. However, in poor economic times they become very “socialistic” and expect a lot of favors from the government. It is not clear just who developed the concept of being “too big to fail”—the industrial giants including banks and all of Wall Street benefit from that concept. The government they fight off during economic boom enters the picture and rescues them from disaster. This has become a pattern in the American economy.

Keywords: Dynamic Market; Economic Progress; Domestic Labor; Questionable Practice; Quick Decision (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-37021-1_4

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DOI: 10.1057/9781137370211_4

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