4 ms·
One way this could get solved is by a tech breakthough that dramatically reduces costs. Or accept the market doesn't always work efficiently and do something ab
by throw2016 10y ago
One way this could get solved is by a tech breakthough that dramatically reduces costs. Or accept the market doesn't always work efficiently and do something about it in the now.
The current way is to 'trust the market' and pray that eventually it will all work out is. Eventually we will all be dead.
In the real world there is regulatory capture, lobbying, collusion and agressive misinformation campaigns by orwellian named 'public interest groups'.
The plain fact is in certain markets heavy capital and regulatory costs make it nearly impossible for new entrants. And even a few brave new entrants who are heavily capitalized face eventual co-option into collusion with the status quo if successful. None of this is in the market or public interest.
This is not free markets but corporatocracy masquerading as free markets. The problem of monopolies, collusion and regulatory capture are conveniently ignored or hand waved away by economists when its the 'natural end state' for capital intensive industries and cannot simply be wished away or ignored. Concentration of economic power can not only undermine markets but create entrenched political and economic power structures.
We have to acknowledge a lot of 'economists' are often paid lobbyists to promote a particular 'view'. Municipal wifi and public interest inititiaves are the only solution for the now until proper measures can be found to manage these kind of markets.