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You've gotta be skeptical of an article in the financial press that hearteningly acknowledges the blindingly obvious macroeconomic problems and proceeds to sugg
by tehjoker 7y ago
You've gotta be skeptical of an article in the financial press that hearteningly acknowledges the blindingly obvious macroeconomic problems and proceeds to suggest the solution is some kind of reduction of regulation. They didn't even offer a single convincing mechanism by way of example.
I am 100% on board with the idea that large companies have captured key agencies. You don't need a scientific study to note the antics of Ajit Pai or the hostile takeover of the CPFB by a guy that just showed up and just sat in an office there until people started doing what he said. However, the idea that somehow cutting regulations will cause monopolies to be less monopolistic is laughable.
Look at Uber, the poster child for dysregulation. They openly and actively thwart any kind of rule of law that would constrain them, and they can fund their operations at shocking losses in the mere hope that they can corner the market permanently. Look at the arms manufacturers that openly lament that there isn't enough of a left wing ruckus to scare people into buying more guns. Look at the right wing rebellion in Oregon over a nothing cap-and-trade bill that called for armed militia to protect the interests of oil.
When you have money, the fewer constraints you have, the more you can do. It's the golden rule.
- solidsnack9000 7y agoLook at the arms manufacturers that openly lament that there isn't enough of a left wing ruckus to scare people into buying more guns. Look at the right wing rebellion in Oregon over a nothing cap-and-trade bill that called for armed militia to protect the interests of oil. What do either of these examples have to do with monopolies?
- tehjoker 7y agoMainly that there are players that are big enough, with enough concentrated power to care about politics and influence it. When such large industries lament that prices are falling because there's not enough fear, the logical question to ask is "What are they thinking of doing in response?" I don't think there's a constituency of ordinary people that's willing to go to war over cap-and-trade by itself (they will defend right wing politicians though), but what interests would be willing to push their puppets to take such drastic action? The energy companies of course.