The Folks Who Sell Your Corn Flakes are Acting Like Goldman Sachs—and That Should Worry You

BY LINA KHAN In July, the public learned that Goldman Sachs and several other large banks have morphed into giant merchants of physical goods, routinely shipping oil, running power plants, and amassing stocks of metals so large that Coca Cola accused them of hoarding. It was a disconcerting moment, as regulators realized that firms so recently known for their explosive mortgage-backed securities also deal in goods that can literally explode. These activities mean that banks supplying credit to Read More …

The Future of American Farming

American agriculture is the most efficient and productive on the planet. Between 2% and 4% of the population – depending whether one counts migrant workers or not – raises enough to keep us well fed, with plenty left for export. This achievement has a dark side. Not only are ranchers and farmers a small fraction of the American population, but the number is shrinking: the average farmer (or rancher) is 58 years old. The farming population is not Read More …

The Fertilizer Oligopoly: The Case for Global Antitrust Enforcement

AAI Working Paper No. 13-05: by Author: C. Robert Taylor and Diana L. Moss Fertilizers are a critical input in the agricultural sector where industrial farming is heavily dependent on external inputs of nitrogen, phosphorus, and potassium or potash. A history of supra-competitive pricing by the few, large global producers of fertilizer inputs – coupled with characteristics that make the market conducive to anticompetitive coordination (i.e., collusion) – raise significant competitive concerns. This working paper qualitatively and quantitatively Read More …