646
Painful day for tech titans as EU finally sinks its regulatory teeth into them
(www.theguardian.com)
this post was submitted on 09 Mar 2024
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Sweet. What the corrupt US departments couldn’t - and refused to - do.
Member that time micro$quash was in court for a decade to prove they weren’t a monopoly despite being a monopoly, and then after all that the court declared they were a monopoly? Member? And then absolutely sweet fuck-all happened and they’re still out there monoply-ing without any care or hindrance? Yeah.
US, you fucked that up royal. As usual.
You remember how all the US politicians are funded by the same huge corporations and rich people who all benefit from the regulators doing nothing but pretending to care?
Remember how the politicians pander to Americans by blaming rich people for all of life's problems and saying they'll make them pay their fair share, but those politicians have multiple houses and blatantly conduct insider trading every day, but Americans still vote for them time after time?
I'd like to say you could just not use their products, but that means you have to replace windows with some other os, not buy a major manufacturer cell phone, or do much else 🤷
This right here. It is so far gone, and deeply entrenched into how society works at fundamental levels, that it is impossible to avoid any mega corporations and their influence on how we live (not just tech companies too).
I know that pointing fingers does nothing to help, but this really is Reagan’s fault with his so-called trickle down economics.
I hear what you're saying. I counter with low effort LLM reply. I don't live by what LLMs say, but they generate some good starting points to go and do much more narrow research.
I don't think it's entirely Reagan's fault, I think the idea existed before him. He just sold the idea to the American public. So I guess I could fault him for either believing in it, or just saying he did to support the desires of the wealthy.
CLAUDE 3:
"Did any American politicians, economists, or general capitalism principles regarding 'trickle down economics' exists before president Reagan? What examples of trickle down economics existed before him? Did he invent the idea, or just the phrase?"
The concept of "trickle-down economics" predates President Ronald Reagan and his administration's economic policies. However, the specific phrase "trickle-down economics" became more widely used during Reagan's presidency to describe his economic policies, which were based on the idea that reducing taxes on businesses and the wealthy would stimulate economic growth, creating more jobs and wealth that would eventually "trickle down" to the broader population.
Examples of trickle-down economic principles before Reagan include:
The "Horse and Sparrow" theory, attributed to the French economist Jean-Baptiste Say in the early 19th century, which suggested that if the rich were allowed to get richer, their increased consumption would benefit the working class.
In the 1920s, Treasury Secretary Andrew Mellon, under Presidents Harding and Coolidge, advocated for lower taxes on the wealthy and businesses, arguing that it would spur economic growth.
The "Laissez-Faire" economic policies of the late 19th and early 20th centuries, which favored minimal government intervention and regulation, with the belief that unfettered capitalism would benefit society as a whole.
While Reagan did not invent the underlying economic theories, his administration's policies and rhetoric, particularly the use of the phrase "trickle-down economics," brought the concept to the forefront of public discourse and became closely associated with his presidency.
It's important to note that the effectiveness and fairness of trickle-down economics have been heavily debated among economists and policymakers, with critics arguing that it primarily benefits the wealthy and does not necessarily lead to broad-based economic growth or income redistribution.