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> Over time, the interpretation of the antitrust law was changed by “judicial legislation” to narrowly define monopolies to a standard involving price increases
by elliekelly 5y ago
> Over time, the interpretation of the antitrust law was changed by “judicial legislation” to narrowly define monopolies to a standard involving price increases for consumers.
And many of today's biggest tech companies largely get a pass because antitrust law focuses on price and ignores all other negative externalities that result from monopolistic behavior like quality, timeliness, ease of access to customer service, user privacy, and corporate social responsibility. But the product is "free" so how can the consumer possibly derive any further benefit?(/s)
When there is competition in a market not only do prices fall but the customer experience improves. Businesses don't (and can't) compete on price. They compete on value. But US antitrust law ignores value entirely and consumers everywhere pay the price.