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by ernst_klim
2513 days ago
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> Market mechanisms encourage monopoly/cartel price/payment fixing that benefits shareholders/owners through strong-arming of downstream businesses Not market mechanism, governments protecting big biz. Without legislative protection a monopoly doesn't last long, as Standard Oil example shows. A typical cycle of crony-capitalism is: build big biz on a new market -> lobby heavy regulatory framework and a set of monopoly rights which make entering impossible for any new competitor -> push your shills in some agency like FAA, FCC or FDA -> enjoy your unconditional domination. > The only two things that can break the logjam are government action to split up monopolists This factoid has failed so many times it's astonishing it keeps being repeated. A century of anti-trust failures without a single example of a decent outcome, yet people still bring this up. |
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