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Robert Reich: Five ways to make more than a billion dollars
Link: https://robertreich.substack.com/p/if-the-market-were-working-well-we
Friends, One of the most notable characteristics of 2025 has been the shamelessness of the billionaire class and the conspicuousness of its corruption.
For many years, whenever I’ve warned that an increasing portion of the nation’s wealth is falling into the hands of an ever-smaller number of people, the moneyed interests have responded: “But that’s just the free market,” or “the free market has decided they deserve it.”
Rubbish. There’s no such thing as a “free market” to begin with. Today’s so-called “free market” is the outcome of political decisions over monopolization, labor organization, private property, finance, trade, taxes, and much more.
Who’s behind these political decisions? Increasingly, the same small number of ultra-rich who have gained disproportionate influence over our politics. They’ve created five ways for themselves to accumulate a billion dollars or more.
1. First, exploit a monopoly.
Does Jeff Bezos deserve his billions because he founded and built Amazon?
No. Amazon is a monopolist with nearly 40 percent of all e-commerce retail sales in America. In addition, Amazon is protected by a slew of patents granted by the U.S. government.
In 2023, the U.S. government — through the Federal Trade Commission and 17 states— charged Amazon with illegally maintaining a monopoly by crushing competition, inflating prices, and harming consumers through anticompetitive practices like punishing sellers who offer lower prices elsewhere. (The trial is currently scheduled to begin in 2027.)
If the government fully enforced anti-monopoly (antitrust) laws and didn’t give Amazon such broad patents, Bezos would be worth far less.
- more at link -
For many years, whenever I’ve warned that an increasing portion of the nation’s wealth is falling into the hands of an ever-smaller number of people, the moneyed interests have responded: “But that’s just the free market,” or “the free market has decided they deserve it.”
Rubbish. There’s no such thing as a “free market” to begin with. Today’s so-called “free market” is the outcome of political decisions over monopolization, labor organization, private property, finance, trade, taxes, and much more.
Who’s behind these political decisions? Increasingly, the same small number of ultra-rich who have gained disproportionate influence over our politics. They’ve created five ways for themselves to accumulate a billion dollars or more.
1. First, exploit a monopoly.
Does Jeff Bezos deserve his billions because he founded and built Amazon?
No. Amazon is a monopolist with nearly 40 percent of all e-commerce retail sales in America. In addition, Amazon is protected by a slew of patents granted by the U.S. government.
In 2023, the U.S. government — through the Federal Trade Commission and 17 states— charged Amazon with illegally maintaining a monopoly by crushing competition, inflating prices, and harming consumers through anticompetitive practices like punishing sellers who offer lower prices elsewhere. (The trial is currently scheduled to begin in 2027.)
If the government fully enforced anti-monopoly (antitrust) laws and didn’t give Amazon such broad patents, Bezos would be worth far less.
This article by Robert Reich is a real eye-opener, and it's clearly explained for those of us who aren't Econ majors. As I read the title of this piece, my first thought was, "Inherit it." And yes Inheritance is #5 on Reich's list, but the other 4 are also important topics.
Please read the rest on Mr. Reich's substack ....
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