Skip to main content
Default Image

Only bold state intervention will save us from a future owned by corporate giants

Centering community and place Aligning finance with people and planet

Like a handful of other corporate giants, Amazon has seen its business expand during this crisis. In the US, the company took on 100,000 new workers between mid-March and mid-April, before looking to create another 75,000 posts. Its stock price has soared by more than 50% since the beginning of April, and Amazon’s founder, Jeff Bezos, has seen his wealth increase by $30 billion (£24bn) during the pandemic alone. The global billionaire class have never had it so good.

The government must ensure the recovery works for everyone, not just for the richest. A large part of the answer lies in a move to block corporate consolidation and predatory acquisition, preventing the leveraged buyout of the economy. This could take the form of a state holding company, with a mandate to support struggling small and medium enterprises directly through the coronavirus era and to prevent the destruction of what remains of the UK’s local small-business sector. 

Publication date: 2020-07-06
Parent publication: The Guardian
Publication URL: Only bold state intervention will save us from a future owned by corporate giants

More related work

Default Image

HAN Anchoring Resilience: Aligning supply chains and impact purchasing for community health summit

The Healthcare Anchor Network (HAN) convened the “Anchoring Resilience: Aligning Supply Chains and Impact Purchasing for Community Health” summit to spark collaboration in the healthcare sector around onshoring and localizing production of PPE and other supplies, with an emphasis on equity, sustainability, and supply chain resilience.

read more
January 8, 2021
Default Image

After the insurrection: Defeating Trumpism, rebuilding America

Our message about how we must respond to the 2017 Charlottesville tragedy is even more relevant after the attack on the US Capitol by Donald Trump supporters.

read more
November 19, 2020
We can't wait to see you again (Nick Bolton/Unsplash)

Local economy preservation fund proposal goes to Biden administration

A plan for local economy preservation funds that would “save local businesses at scale” that would otherwise be casualties of the economic damage done by the CIVID-19 epidemic was delivered today to the Biden-Harris transition team by The Democracy Collaborative and the Council of Development

read more