Tim Wu: Extraction in American Capitalism

Tim Wu, a former Biden administration official and Columbia Law School professor, argues that modern American capitalism is centered on amassing market power and extraction, leading to widespread economic resentment. He connects this economic shift to current political volatility and points out the lack of discipline in many industries. Wu sees an unexpected solution in the National Football Leagues market structure, which maintains discipline and prevents extraction. He hopes for a return to an American system where hard work and investment lead to fair rewards.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.