Attention Economy


Monday, May 8, 2023

The Downside of Excessive Financialization


The Unfortunate, Unintended Consequence of the Inflation Reduction Act
https://www.nytimes.com/2023/05/08/opinion/inflation-reduction-act-global-asset-managers.html
The I.R.A. will help accelerate the growing private ownership of U.S. infrastructure, and in particular its concentration among a handful of global asset managers like Brookfield. This is taking the United States into risky territory. The consequences for the public at large, whose well-being depends on the quality and cost of a host of infrastructure-based services, from energy to transportation, are unlikely to be positive.