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What you say is true in the purest sense. Building on this, some economists regard monopolies of exchange as "assets". Baumol (the economist referenced in the a
by fergie 8y ago
What you say is true in the purest sense. Building on this, some economists regard monopolies of exchange as "assets". Baumol (the economist referenced in the article) did a lot of research into "Contestble Markets Theory", essentially concluding that markets which are not contestable generate free money for incumbants/owners/monopolists
You could say that anything to do with the "Sharing" or "Gig" economy is a play on rent extraction. Companies seek to own a marketplace in order to levy a rent on transactions.