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This is part of the reason critical markets shouldn't be allowed to get pinned down so far by one or two big players gobbling up competitors through mergers and
by Frost1x 7y ago
This is part of the reason critical markets shouldn't be allowed to get pinned down so far by one or two big players gobbling up competitors through mergers and buyouts--even 4 gets risky. If there was truly healthy competition in the sector (a requirement for capitalism to work effectively) then Boeing going down wouldn't have nearly as much of a significant impact on society--it should be welcomed. Other competitors would rejoice and increase volume to meet demand and their shoddy practices would be cast aside with the consumer also winning in the process.
In the arguable case of a market where extensive capital is needed where no one would enter and/or competition really isn't feasible, that's a case for government granted monopolies with stringent oversight (similar to utilities like water, power, ...) or an actual public system.
Instead here we are, yet again, with corporate welfare and socialism potentially on the table for groups that shouldn't need it while the average citizen gets little-to-no breaks when they make mistakes (which often aren't even due to greed driven corner cutting).
- kazen44 7y agothe current system results in the worst of both worlds. The company gets it's enormous profits in private, but when it makes a massive mistake which could be avoided, the rest of society is somehow on the hook to bail them out.