If this were happening in a developing nation, it would be an international outrage. It’s happening in the United States, and not enough people seem to care. Eight months after Hurricane Maria assaulted Puerto Rico, its residents continue to endure indignity after indignity. These indignities are the direct result of Donald Trump and the Republican […]
The Secret Monopoly Making Everything More Expensive
A two-decade fight with monopoly power in the payment system has arrived at a moment of truth, boiling down to one simple question: Will the courts bless price-fixing? Let’s hope not. Last week, Demand Progress, American Economic Liberties Project, Consumer Reports, and Small Business Majority asked a federal court to reject a proposed antitrust settlement that would bless the Visa-Mastercard duopoly in credit-card payment services. The case, officially known as In re Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, grew out of a grievance merchants and consumers have nursed for decades that has curdled into something worse over…
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