Tag Archives | Paul Krugman

Paul Krugman: Comcast and Time Warner ‘Barons of Broadband’

Pic: PD

Pic: PD

Paul Krugman rightly casts a jaundiced eye at the Comcast/Time Warner merger…

Via New York Times:

Last week’s big business news was the announcement that Comcast, a gigantic provider of cable TV and high-speed Internet service, has reached a deal to acquire Time Warner Cable, which is merely huge. If regulators approve the deal, Comcast will be an overwhelmingly dominant player in the business, with around 30 million subscribers.

So let me ask two questions about the proposed deal. First, why would we even think about letting it go through? Second, when and why did we stop worrying about monopoly power?

On the first question, broadband Internet and cable TV are already highly concentrated industries, with a handful of corporations accounting for most of the customers. Once upon a time antitrust authorities, looking at this situation, would probably have been trying to cut Comcast down to size. Letting it expand would have been unthinkable.

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States of Depression

Reagan HopeHere’s an article from Paul Krugman in the New York Times about the state of the economy, and this quote pretty much sums up his verdict: “In fact, if it weren’t for this destructive fiscal austerity, our unemployment rate would almost certainly be lower now than it was at a comparable stage of the ‘Morning in America’ recovery during the Reagan era.”

Krugman, a Nobel Prize winner in economics, is about as “liberal” (whatever the hell that means in 2012) as the korporate media will allow at this point. He has often been highly critical of Barack Obama, especially during the 2008 Democratic Party race, when he was one of the few to note Obama’s economic policies were already in campaign mode decidedly to the right of both Hillary Clinton and John Edwards.

That said, Krugman provides the following evidence:

One way to dramatize just how severe our de facto austerity has been is to compare government employment and spending during the Obama-era economic expansion, which began in June 2009, with their tracks during the Reagan-era expansion, which began in November 1982.

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