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How Widespread Is Labor Monopsony? Some New Results Suggest It’s Pervasive. - Roosevelt Institute
Our story of why firms have wage-setting power is that since they have few competitors among would-be employers, their workers receive few outside job offers and hence can be forced to accept a lower wage.
monopsony  monopoly 
yesterday by brycecovert
Google is jeopardizing African-American literature sites | The Outline
Google wie FB sind Publisher! // The search engine keeps making websites redundant by providing answers to queries directly on Google.com.
Google  Facebook  monopoly  information  YouTube  discovery  algorithm 
3 days ago by asterisk2a
News from Facebook

t’s almost impossible to verify anything they say, except for their revenue.

While news organizations were dancing to Facebook’s tune they neglected their biggest treasure: their own sites, and most importantly, what remained of their own social networks. Their readers. More and more advertising was crammed into busier and busier Desktop-Websites that fewer and fewer would visit. Their headlines and leads fed Facebook. Headlines and leads are what most people read, so Facebook was happy. Readers were happy too because they didn’t have to type URLs anymore to scan a couple of headlines.

He went as far as claiming that posts on Facebook were “99% authentic”… which may leave those who have spent some time on social networks asking: Does he ever use his own product? Is Zuckerberg real?

Taking a step back from news is good for PR and good for China:

facebook’s decision to downgrade publishers in their newsfeed seems like a knee jerk reaction to the negative reputation the company has since Trump’s election and the scrutiny it has come under for its role in Brexit or the Catalonia crisis. And then there are reports about declining user engagement and there is the overall shift towards ‚private social‘ i.e. chat apps. But there is more to it. […] Wrapping too much journalism around your brand is a mistake for any platform hoping to still make it into China, which is one of Mark Zuckerberg’s great ambitions.

Everything that Facebook does in the near future has to be interpreted in the stark neon light of fighting antitrust laws. Zuckerberg is ready for big sacrifices to avoid the governmental beatdown. Cutting news organizations out of the main feed already cost him 3.3 Billion. He knew that beforehand. He also knew that news organizations would not love him for his big change of mind. But compared to having the government step in and break up the Facebook Kingdom, 3.3 Billion and a couple of angry journalists is a very small price.
facebook  advertising  evil  epicfail  news  journalism  history  internet  web  markzuckerberg  reference  chat  china  regulation  usa  monopoly  walledgarden  decentralization  mustread 
4 days ago by WimLeers
Declining Labor and Capital Shares
In a standard model, a decline in competition is necessary to
generate simultaneous declines in the labor and capital shares. A calibrated model shows that a decline in
competition quantitatively matches the data. a. This paper provides reduced form empirical evidence that
a decline in competition plays a significant role in the decline in the labor share. Increases in industry
concentration are associated with declines in the labor share
monopsony  monopoly 
9 days ago by brycecovert
Platform Capitalism | Critical Theory | Continental Philosophy | General Philosophy | Subjects | Wiley
What unites Google and Facebook, Apple and Microsoft, Siemens and GE, Uber and Airbnb? Across a wide range of sectors, these firms are transforming themselves into platforms: businesses that provide the hardware and software foundation for others to operate on. This transformation signals a major shift in how capitalist firms operate and how they interact with the rest of the economy: the emergence of ‘platform capitalism’.

This book critically examines these new business forms, tracing their genesis from the long downturn of the 1970s to the boom and bust of the 1990s and the aftershocks of the 2008 crisis. It shows how the fundamental foundations of the economy are rapidly being carved up among a small number of monopolistic platforms, and how the platform introduces new tendencies within capitalism that pose significant challenges to any vision of a post-capitalist future. This book will be essential reading for anyone who wants to understand how the most powerful tech companies of our time are transforming the global economy.""

also this
https://en.wikipedia.org/wiki/Inventing_the_Future:_Postcapitalism_and_a_World_Without_Work

--Marxism and Critical theory tags are tentative as the author belongs to *speculative realism* school, which allegedly moves beyond anti-realist tendencies of the past
GAFA  capitalism  market_failures  monopoly  critique  book  critical_theory  marxism  ? 
12 days ago by rvenkat

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