|From Josh's FB. Then to The Atlantic (for bigger version) which said it came from Mother Jones Jan 2010|
I used the word 'predatory capitalism' recently and I should explain. Market economists tell us the market works because it is efficient, but only when there is competition. If your bank and credit card company seem to treat you more as prey than as a customer - always looking for ways to take money from you - late fees, finance charges that never let go and lots of other automatic fees - then you know what I mean. What about airlines? Why can't you just buy a ticket at a fair price without looking all over the internet? Why can't you give/sell your ticket to someone? It seems the main reason is so they can charge you change fees. And cell phone companies?
This bank consolidation chart, which you can see better here, explains some of the reason - lack of competition. You don't have a lot of choices. And if you ever want to rent a car or buy an airline ticket online, you have to have a credit card. But scanning Facebook - I do this now and then - I found one feasible response.
|Found this on Kelly's FB|
Credit Unions are a great option. We've been members of Credit Union One since they've been the Teachers Credit Union. Ours doesn't mess with us. They're local and they treat us well. But I have an Alaska Airlines B of A visa card. Can I give up my Frequent Flyer miles? Maybe I can limit my Alaska Airlines Visa use just to airline tickets. What about you?
The way to make the market work is to not do business with companies that don't treat you well. That may mean giving some things up that you think you can't live without. But you can.
Make a list of the companies that you patronize that treat you badly. Then start planning your exit. Find alternatives. The market doesn't work if consumers have no choice, or think they don't.
By the way, using Google's reverse image function, I was able to put the chart into the image box and trace my way back.