#marketfailure — Public Fediverse posts

Making tech giants pay for news was a success the first time around. It can be done again
#BigTech #Journalism #Media #NewsIndustry #TechRegulation #DigitalEconomy #Google #Meta #Democracy #PublicInterest #Politics #SocialMedia #MarketFailure #Business
https://the-14.com/making-tech-giants-pay-for-news-was-a-success-the-first-time-around-it-can-be-done-again/

"Such poor performance leads MacCulloch to ask a provocative and essential question: how is it possible that these executives are 'so incompetently useless they can’t make a buck even when they have no competition?'. He notes that it is difficult to find another developed country where multiple virtual monopolies are effectively 'run at a loss' in terms of shareholder value ..."

#BryceEdwards, 2025

https://theintegrityinstitute.substack.com/p/integrity-briefing-are-business-leaders

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#monopolies #MarketFailure

@susankayequinn

"it's pollution in our lungs & exploitation of people & burning of the planet & degradation of civil society"

Economists refer to these as "externalities"... often not hidden (air pollution in LA is pretty obvious) as much as unaccounted for...

"Externalities often occur when the production or consumption of a product or service's private price equilibrium cannot reflect the true costs or benefits of that product or service for society as a whole.... since resources can be better allocated, externalities are an example of market failure."

👉 #MarketFailure 👈 is the key concept. So called #FreeMarkets are often incomplete, because not all of the #StakeHolders are at the bargaining table.

https://en.wikipedia.org/wiki/Externality

Even the oft quoted-out-of-context "libertarian" economist #FriedrichHayek allowed that there were some areas of economic activity that could not be addressed by free or open markets... #publichealth and #pollution to name just two.

[Graphic is from an article by Patrick Miner et al 2024.]

https://www.youtube.com/watch?v=sb6pENeh4oA

#TheStream

#GenerationRent: How youth are battling the #globalhousingcrisis

'This is a story of #marketfailure'
--- #TaraRaghuveer, #TenantUnionFederation

tenantfederation.org

#housing #housingcrisis #costofliving

#Media #MediaPolicy #Journalism #News #PublicService #MarketFailure: "Amid the retreat of local journalism and the resulting emergence of “news deserts,” where communities lack authentic and civically accountable sources of news, it is important to not only seek new revenue streams for news organizations but also to consider how financial resources and institutional structures secure journalistic autonomy and an abiding dedication to public service. Surveying initiatives to bolster local reporting in multiple countries, this study finds that such efforts frequently rest on an unstated optimism that market failures can be corrected and that new, sustainable business models ultimately will solve the journalism crisis. In contrast to these stopgap interventions, initiatives based on public service media principles found in the world's healthiest democracies—such as providing information across all social groups and fostering civic engagement—are better positioned to rebuild local systems in which news media are structured as enduring social institutions with crucial roles to play in democratic processes."

https://www.tandfonline.com/doi/full/10.1080/1461670X.2023.2253928