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I don't understand why such mergers are allowed. This is where capitalism falls apart as it is when it crosses the line between creating products to satisfy cus
by varispeed 6y ago
I don't understand why such mergers are allowed. This is where capitalism falls apart as it is when it crosses the line between creating products to satisfy customers and chasing profit above all. These resulting giant companies become too big to fail, they lose accountability and they detach from their customers and mission. Then when these companies start having problems, they use money to buy themselves laws, exemptions and corrupt whatever and whoever they need to in order to stay afloat. I think they way to fix capitalism is to order companies going above certain threshold to split and never allow any mergers.
- ajmadesc 6y agoThe economic orthodoxy believes that consolidation > efficiency > reduced prices > consumer benefit > societal benefit No amount of empirical evidence to the contrary will disuade them because you don't understand the _science_
- morpheos137 6y agoActually that is not really economic orthodoxy unless you learn economics from CNBC or something. Real economists understand that monopoly, oligopoly often produces a suboptimal outcome. In order for capitalism to work competition has to exist. For Boeing the only competition is Airbus. We have been building jetliners from over half a century. Things like airframes failing after 8 years shouldn't be a thing...