Abstract
Although all companies have got wherever they are by using the market mechanism, when they reach a certain point they appear to be ignoring their origin. Once they reach certain gigantic size, in “good” economic times they become very “capitalistic,” insisting on keeping all that they have gained. They become very anti-governmental and anti-taxes. However, in poor economic times they become very “socialistic” and expect a lot of favors from the government. It is not clear just who developed the concept of being “too big to fail”—the industrial giants including banks and all of Wall Street benefit from that concept. The government they fight off during economic boom enters the picture and rescues them from disaster. This has become a pattern in the American economy.
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© 2014 A. Coskun Samli
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Samli, A.C. (2014). Industrial Giants Are a Major Block. In: Dynamic Markets and Conventional Ignorance. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137370211_4
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DOI: https://doi.org/10.1057/9781137370211_4
Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-1-349-47617-6
Online ISBN: 978-1-137-37021-1
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)