Too big for their boots? Are bigger companies slowing the economy.
Do big companies really inhibit competition? Would the world be a better place if they didn’t exist or were broken up. Steve thinks not. But their size highlights another issue.
Debunking Economics - the podcast · Steve Keen & Phil Dobbie
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Show Notes
The global share market has always been dominated by the US, now we’re seeing a number share of very large tech companies claiming a larger slice of that pie. Even though they are trading with price to earnings ratios well beyond the historic average, these companies won’t fail. They dominate the market, with billions of customers, low production costs, a low number of workers and the spare cash to vest in growth without the expense of extra capital.
Phil asks Steve, what damage are these companies doing – to the share market, to the global economy and to investors. So we need to knock these companies down to size? Steve thinks not, but has another way of tackling the issue.
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