capitalism

Hopsopoly. Global beer mergers reach a new level.

Rob Larson
Dollars and Sense
Raising consciousness about capitalism’s predations, even in beer, could encourage a movement to socialize brewing. In a democratically managed economic system, the freewheeling ethos of the microbrew movement would be free to flourish without being blackballed out of the market by the majors, or bought out if they manage to succeed. Now that would be a happy hour!

Profitable Companies, No Taxes: Here’s How They Did It

Patricia Cohen
New York Times
Among the report’s key findings: 100 companies enjoyed at least one year in which their federal income tax was zero or less, 24 companies paid zero taxes in four out of eight years, 18 companies paid no federal income tax over the eight-year period, Collectively, the 258 corporations enjoyed $513 billion in tax breaks over the last eight years. More than half of those tax breaks, $277 billion, went to just 25 of the most profitable corporations.

Walter Rodney and the Racial Underpinnings of Global Inequality

Tianna Paschel
Items: SSRC
While inequality has become a topic of increased popularity and politicization in recent years, most of the attention has focused on how 1% own an increasingly large share of the world’s wealth, rather than on inequalities between nations. In a global context in which national borders and citizenship pose few barriers to the mobility of capital, the reality is also a story of the world’s richest nations continuing to reap a disproportionate amount of the globe’s profits.

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