The American Prospect reposted this
A fascinating read in The American Prospect about algorithms in price setting. Even more so given recent Commerce Commission statements about petrol price rises and falls.
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IDEAS, POLITICS & POWER: A nonprofit national magazine, The American Prospect covers social and economic injustice, bringing reliable analysis together with fresh reporting. We dispel myths, challenge convention, and expand dialogue. Our writers are journalists who dive deep, scholars who write for a popular audience, and citizens with stories to share. Our Writing Fellowship is the best entry-level job in journalism. Our narrative approach to complex issues allows us to engage activists, scholars, policy makers, concerned citizens, and other media. Our materials are sourced by kindred organizations, in textbooks, and in university classrooms. In print and online, we make a difference.
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Updates
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The American Prospect reposted this
Like the economy, technology is also created by people. We must have the checks in place to ensure technology and its impact on our economy acts in service of people and mitigates its harms. In the latest project of The American Prospect, Lindsay A. Owens, PhD and David Dayen delve into the ways market power, customer surveillance, machine learning, and opportunism have come together to create a new set of pricing strategies designed to maximize profit at the expense of consumer fairness 👇
In a special edition of The American Prospect, David Dayen and I walk you through the ways companies have used market power, advanced technology, and the cover of inflation to relentlessly price-gouge consumers. In the past, companies have focused on cost-cutting in order to stay competitive and boost profits for their shareholders, regardless of how it affected workers and communities. Yet there is a limit to cost-cutting— something Wall Street won’t stand for. Enter the age of recoupment. Instead of cutting costs, the new mantra is raising prices. David and I went on the Bloomberg Odd Lots podcast with Joe Weisenthal and Tracy Alloway to talk about these pricing strategies, the tools companies use, and the industries that exist to help companies figure out what they can charge. Listen here: https://lnkd.in/eKzkExjh Learn more about the role pricing power plays in our economy in this month’s issue of The American Prospect: https://lnkd.in/eWKZPUzC
The Age of Recoupment
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The FTC recently found that fracking CEO Scott Sheffield colluded with OPEC to fix oil prices, costing the average American over $2,100 a year. Sheffield is a GOP mega-donor, and has also contributed to some Democrats.
The Mega-Donor Who Colluded With OPEC
prospect.org
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The Senate Finance Committee wants to create a new program to incentivize better practices. Critics say there’s an easier way: end kickbacks between suppliers and bulk purchasers.
New Bill Seeks to End Drug Shortages
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The American Prospect reposted this
Philanthropic & Non Profit Strategist, advising on strategy, program development, project management and communications strategy
Shoutout to Robert Kuttner and his colleagues The American Prospect for their insightful analysis of important topics. I recently came across their newsletter on interest rates and found it to be particularly helpful. Their concise analysis was spot on! #AmericanProspect #InterestRates #InsightfulAnalysis
Kuttner on TAP: How the Fed Keeps Getting Inflation Wrong
americanprospect.bluelena.io
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In his weekly column The Infernal Triangle, Rick Perlstein explores how right-wing companies like the Black Rifle Coffee Company capitalize on veterans’ trauma and foment political division to make a profit.
‘Stay Strapped or Get Clapped’
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The American Prospect reposted this
📡The Affordable Connectivity Program (#ACP) funding is running out sooner than expected. Skye Downing, an ACP recipient and CTN employee, highlights its importance in this article from The American Prospect: "To some people, a $30 subsidy may not seem like a lot, but to those it does matter to, it is a lot." https://ow.ly/ty2K50QVfVj #BroadbandAccess #AffordableConnectivity #Internet4all
Breaking a Lifeline to the Internet
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The American Prospect reposted this
Biden's Education Department does its job: "None of the programs used to cancel student debt are newly created by the Biden administration. Biden’s Education Department simply fixed existing programs that weren’t working to give borrowers relief that they deserved. These are borrowers who were defrauded, became disabled, or signed up for a repayment program that guaranteed debt relief, under long-standing U.S. laws and federal rulemaking." From David Dayen in The American Prospect
Why Four Million Student Borrowers Got Debt Relief
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The American Prospect reposted this
Aspiring journalists in the U.S. can apply by March 11 for The American Prospect’s Writing Fellows Program, which helps journalists develop their skills with the magazine. The annual salary for the two-year fellowship starts at US$46,500. https://buff.ly/3OQaeSS
Prospect Writing Fellowships available [US]
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The American Prospect reposted this
That’s eight textile plant closures since September, a figure backed up by the National Council of Textile Organizations (NCTO), a top trade group for the industry. While textile manufacturing has been in decline in America for five decades, the supply chain still supported over 500,000 U.S. workers in 2022, according to NCTO figures. So this rapid downsizing is alarming. The notice of the shutdown at National Spinning brought to the surface a simmering issue that many industry leaders have articulated recently. “The rise of import garments due to de minimis shipments for online shopping has deteriorated sales at retail stores, thereby impacting our domestic supply chains,” National Spinning president and CEO Jim Booterbaugh wrote in a filing to the North Carolina Department of Commerce. ...The de minimis loophole allows for goods of nominal value to be shipped into the U.S. without tariffs, fees, or inspections. That value was increased in 2016 from $200 to $800; since then, de minimis shipments, particularly from China, have soared to over 685 million in 2022, according to the U.S. Customs and Border Protection (CBP). Some estimates for 2023 put that number over one billion. Read More: https://lnkd.in/gvrB3M7D Source: The American Prospect #linkedin #smallbusiness #economy #supplychain #innovation #technology #commerce #digital
Domestic Textile Industry Crashing Because of Trade Loophole
prospect.org