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Yeah banking and ISPs or the network utility need to be regulated as utilities first. They are both "too big to fail" and local monopolies respectively and the
by drawkbox 6y ago
Yeah banking and ISPs or the network utility need to be regulated as utilities first. They are both "too big to fail" and local monopolies respectively and they are both abusing their position.
A competing banking system through the USPS is a great idea that needs to be remade, it worked well for a long time in the US [1]. It would eliminate the predatory checks cashed industry and credit through the system would be competitive to keep the private systems in check, much like the USPS does other delivery services or Federal student loan rates keep private rates in check. The same needs to happen for healthcare with a public option. When you have public systems, the private ones have to compete more, it is a win for everyone.
The network utility needs to be split, lines handled by power companies that know how to run a utility, and then the servicers on top that are competitive would also be interest aligned with the network utility users.
I have no doubt this "Google should be regulated as a utility" is being pushed by ISPs that know they are utilities but fought to remove that classification. They deserve to lose their local monopolies and right to that because they abused their position and have turned rent-seeking over capacity expansion with data caps, overloaded nodes, prioritization, dropped packets, all incentives to NOT expand the capacity which is a major problem when the market incentives are aligned against the interests of the country, products and innovation.
[1] https://en.wikipedia.org/wiki/United_States_Postal_Savings_System https://en.wikipedia.org/wiki/United_States_Postal_Savings_S...