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by criddell
2939 days ago
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Being a monopoly is fine. The problem starts when a company abuses it's monopoly power. It doesn't make any sense to say a company that has achieved monopoly status can abuse its power as long as they acquired their monopoly legitimately. |
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This is dangerously incorrect. A market economy requires competition to function correctly. Any monopoly — but especially one in a major market — is a hazard to the health of the broader economy and the society that depends upon it.
See: https://www.yalelawjournal.org/article/amazons-antitrust-par...
> The long-term interests of consumers include product quality, variety, and innovation—factors best promoted through both a robust competitive process and open markets. By contrast, allowing a highly concentrated market structure to persist endangers these long-term interests, since firms in uncompetitive markets need not compete to improve old products or tinker to create news ones.