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The problem of monopolies and cartels isn't new. It's systemic and why government enforced market regulation is necessary to protect the interests of citizens.
by dreamfactored 9y ago
The problem of monopolies and cartels isn't new. It's systemic and why government enforced market regulation is necessary to protect the interests of citizens. The newer question is perhaps how you effectively nationalise or even just police organisations that are as international in their operations as google or fb. The most effective approach so far is simply to ban them in your country and grow your own as the Chinese have done.
- platz 9y agoThe problem now through is that these guys are "effective" monopolies, but they aren't monopolies according to the court's definition because they can always claim that the consumer doesn't have to use their service, they have choice to use some other dinky competitor. The problem is that in the internet age, it is not in controlling supply but in effectively unlimited demand created by combination of zero marginal cost to add customers and network effects of the internet.