The Gray Area with Sean Illing How middlemen took over the economy
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Jul 28, 2022 Kathryn Judge, Harvey J. Goldschmid Professor of Law at Columbia University and author of "Direct: The Rise of the Middleman Economy," dives into the pervasive influence of middlemen like Amazon and Walmart. She discusses their dual roles in efficiency and economic fragility and critiques the moral dilemmas consumers face in supporting these intermediaries. Judge advocates for a shift toward direct purchasing to foster ethical buying habits and restore balance in the economy, urging consumers to consider the real costs of their choices.
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Similarities Between Amazon and Walmart
- While seemingly different, Amazon and Walmart share similarities in their influence.
- They both contribute to increased supply chain complexity, information loss, and fragility.
Etsy vs. Amazon
- Etsy initially prioritized supporting creators and offered more transparency.
- Over time, Etsy adopted a business model similar to Amazon, reducing the difference.
Inspiration from 2008
- Kathryn Judge's work was inspired by the 2008 financial crisis and its aftermath.
- She observed the crisis's disproportionate impact on vulnerable populations.
