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Aren't Google, Amazon, and Facebook examples of the dynamism we want to foster? Facebook and Google hardly "do" anything, in past senses of the term "do". In o
by tobmlt 9y ago
Aren't Google, Amazon, and Facebook examples of the dynamism we want to foster?
Facebook and Google hardly "do" anything, in past senses of the term "do". In other words: are Facebook and Google really part of the reason the US no longer has the dynamism it possessed in 1975? Surely they have only added new types of dynamism at little expense to old markets.
Quick and messy statements, sorry. But I leave it there and move to Amazon. No doubt the (supply side) business environment for traditional goods and services has been greatly disrupted by Amazon at net increase to the average happiness of the (demand side) consumer. Then focus there and I have this to say: Consumers voted for amazon against traditional methods of purchase and consumption. To break-up amazon in favor of traditional competitors is a tax on consumers and a subsidy to inefficient, less-dynamic providers of those same goods. If amazon got big by doing something illegal then prosecute. If something specific needs to be made illegal then let's do so. But blanket persecution of companies just because they are large misses the consumer side point.
Back to supplier side stuff, small businesses thrive on the internet, providing all manner of goods. Much of this is facilitated and protected by the big 3 above. Let's pop some popcorn and see how net-neutrality-esque issues play out over the long haul. I say that to the extent that big players remain free from the shackles of Washington DC, the free internet stands a fighting chance. Net neutrality wouldn't even be an issue if the backbone of the internet was made of more companies like google, and zero companies like Comcast and AT&T. Sorry to mix in more issues but competitive behemoths compete to the benefit of the consumer. Government sponsored behemoths are free to be as terrible as they want. Don't believe me? Call your local provider and have a chat about internet speeds.
Banks are machines (one big mega machine anyone?) of wealth re-distribution from the relatively poor masses to the wealthy and connected few via the combination of inflationary disposition and fractional reserve banking. I would say that small banks will never be dynamic as long as they remain of the same ilk.