And the purpose of a market is to force for profit corporations to compete with other actors. Sometimes this requires regulation when a one or a few get too large.
And no, competition doesn’t mean participants are forced to deliver better value for money.
And no, industry won’t regulate itself.
We need regulation to force market participants to participate in a way that even remotely resembles “fair”. The default mode of operation for suppliers in a market is “extract maximum value.”
And no, competition doesn’t mean participants are forced to deliver better value for money.
And no, industry won’t regulate itself.
We need regulation to force market participants to participate in a way that even remotely resembles “fair”. The default mode of operation for suppliers in a market is “extract maximum value.”