Well, that is exactly to be expected and is exactly what is predicted by economic theory: Markets only actually function under regulation, unregulated markets lead to monopolies or monopsonies.
This may be true in US aviation industry (regulation is too weak) but certainly not applicable for supporting a blanket statement like "Deregulation never seems to result in more competition" above.
Deregulation is often a key to more competition. The change in telecom industry in Western countries between approximately 1985 and now is a great example. The evolution of Internet and mobile communications could not have happened with the regulatory framework, institutions and practices of 1985.
There can be too little regulation. There can be too much regulation. There can be wrong kind of regulation.
> There can be too little regulation. There can be too much regulation. There can be wrong kind of regulation.
Fully agreed. All markets are constructed, all markets are regulated — even if only by the existence of a court system for resolving disputes. But it is a difficult task to craft minimal regulation which fosters enduring competition and forestalls the natural tendency of markets towards monopoly, monopsony, and other varieties of market failure.
Deregulation is often a key to more competition. The change in telecom industry in Western countries between approximately 1985 and now is a great example. The evolution of Internet and mobile communications could not have happened with the regulatory framework, institutions and practices of 1985.
There can be too little regulation. There can be too much regulation. There can be wrong kind of regulation.