4 ms·
"let the market sort it out" only works if the market is easy to enter in the first place. Politics and high bootstrapping costs are roadblocks to entering the
by Manishearth 11y ago
"let the market sort it out" only works if the market is easy to enter in the first place. Politics and high bootstrapping costs are roadblocks to entering the telecom market. If an oligopoly is formed, where everyone has terrible service at terrible prices, the market will stay stuck there.
Capitalism isn't a magic wand you can wave over things and have them fix themselves.