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In the US, they are concerned with economic impact, they do a whole in-depth economic cost/benefit analysis as part of determining if it's worth breaking up a m

by nverno 5y ago

In the US, they are concerned with economic impact, they do a whole in-depth economic cost/benefit analysis as part of determining if it's worth breaking up a monopolist. Whatever 'justice' means in this scenario seems highly subjective. If a monopolist was providing by far the best/cheapest goods and services, more people might prefer that scenario to an alternative competitive market with less benefit on average. It's arguably unjust for the government to handicap specific people, but also unjust for others not to feel like they all have a fair shot to capture the market. Any time people, not fate, are in charge of handicapping some people will think they are getting the shaft.

robbedpeter 5y ago
That sounds rational, but it's not. There's nobody, public or private sector, nobody at all that can make a real economic assessment of the value of a service line Facebook or Google. Those who claim otherwise are stupid, lying, or selling something. Markets and economics are unpredictable systems that have nothing to do with models of rational actors behaving in their own self interest. They're fundamentally extensions of chaotic biological systems and inherently resistant to oracles as a matter of mathematical reality. What would be rational is if we actually endeavored as a society to make sure everyone is accountable to the same rules to the same degree. By using this magical thinking / cost benefit analysis, we're simply incentivizing victory for the best storytelling middleman.
- nverno 5y ago
  I think the difficulties/uncertainties you mention here are a large factor in the feds reluctance to break up monopolies. I have no personal opinion on these methods without taking a much deeper dive into the details. It does seem like the big breakup of Ma Bell worked out well, though. The statement "everyone is accountable to the same rules to the same degree" could be either pro- or anti- federal action.

by nverno 5y ago

robbedpeter 5y ago

That sounds rational, but it's not. There's nobody, public or private sector, nobody at all that can make a real economic assessment of the value of a service line Facebook or Google. Those who claim otherwise are stupid, lying, or selling something. Markets and economics are unpredictable systems that have nothing to do with models of rational actors behaving in their own self interest. They're fundamentally extensions of chaotic biological systems and inherently resistant to oracles as a matter of mathematical reality. What would be rational is if we actually endeavored as a society to make sure everyone is accountable to the same rules to the same degree. By using this magical thinking / cost benefit analysis, we're simply incentivizing victory for the best storytelling middleman.

nverno 5y ago
I think the difficulties/uncertainties you mention here are a large factor in the feds reluctance to break up monopolies. I have no personal opinion on these methods without taking a much deeper dive into the details. It does seem like the big breakup of Ma Bell worked out well, though. The statement "everyone is accountable to the same rules to the same degree" could be either pro- or anti- federal action.