2 ms·
This opinion article lacks appropriate backing for the narrative pushed to be compelling, the data they reference is not included or linked, and the article sug
by trod1234 2y ago
This opinion article lacks appropriate backing for the narrative pushed to be compelling, the data they reference is not included or linked, and the article suggests that non-enforcement of antitrust is the driver for food deserts which started around the 1980s with Reagan, when in fact there were an awful lot of issues going on simultaneously in that time period economically speaking.
It's usually ill-advised to propose a magic bullet when there are many factors at play in the overall economics. I haven't seen any data suggesting the unenforcement (which has no visibility) was more impactful than the S&L crisis (which happened around the same time).
1973 to 1982 Stagflation raged. 1970s took the USD into fiat currency,early 1980s the collapse of Silver occurred due to bad actors cornering markets, certain banks also started being less responsible with whom they loaned to favoring large corporations over independent businesses, and heavy speculation regardless of risk that culminated in the savings and loan crisis affecting many industries, and seemingly following the all too familiar pattern of too-big-to-fail bailout type plans, which were proven to be profitable starting with the Pennsylvania Railroad bankruptcy in 1970 (from what I've seen).
While it is an interesting synopsis, the article completely ignores the other factors instead cherrypicking antitrust, more specifically the Patman Act and unenforcement as the culprit. Economies don't operate in a vacuum. Occam's razor says its more likely to be any number of the crises that happened with the underlying trend being fiat banking, than any other factor that has almost no visibility with a lot of other confounding data. They were chaotic times.