Öncü, Ahmet and Öncü, T.Sabri (2021) The battle of gamestop. Economic and Political Weekly, 56 (11). pp. 10-13. ISSN 0012-9976 (Print) 2349-8846 (Online)
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What the battle of GameStop has brought into light is that democracy in financial markets is just a myth: whoever controls the valves, controls the flow. The market-making and brokerage markets in the United States are heavily oligopolistic markets in which market-makers and brokers extract huge rents from the retail traders. Although the retail traders involved in the battle appear unaware of what they did, they brought these markets to a near collapse, which the oligopolists managed to stop. Theirs is neither a revolution nor Occupy Wall Street, but a novel form of collective action expected to continue.
| Item Type: | Article |
|---|---|
| Divisions: | Sabancı Business School > Management and Strategy Sabancı Business School |
| Depositing User: | Ahmet Öncü |
| Date Deposited: | 29 Jul 2022 14:50 |
| Last Modified: | 29 Jul 2022 14:50 |
| URI: | https://research.sabanciuniv.edu/id/eprint/43084 |
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