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"competition will give us cheap, reliable, and feature-filled service". Really, I would love to see the evidence that this would be the case.
by pwtweet 9y ago
"competition will give us cheap, reliable, and feature-filled service". Really, I would love to see the evidence that this would be the case.
- TheAdamAndChe 9y agoCompetition lowers costs in most industries, especially in markets with a low barrier to entry. In 1956, fridge would have cost the equivalent of $3000[1]. Now, it's down to a few hundred of dollars, completely because competition spurred the creation of technological and manufacturing advances, driving the price down. The issue here is that some industries, particularly industries with a high barrier to entry and low returns due to existing competition, are incredibly difficult to enter. The internet service provider industry happens to be one of those industries that form monopolies. [1] http://www.thepeoplehistory.com/50selectrical.html http://www.thepeoplehistory.com/50selectrical.html