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It's worse: every possible advantage of mergers is a good thing made impossible by competition. Mergers are a sign of the market itself being inefficient.
by Kinrany 5y ago
It's worse: every possible advantage of mergers is a good thing made impossible by competition. Mergers are a sign of the market itself being inefficient.
- danaris 5y agoWhile this is true, to some extent, it also implies that "being inefficient" is necessarily bad. Optimizing for efficiency has led to some of the worst problems we've seen in recent years. Just off the top of my head, "lean staffing", which is an abusive management practice, and the inability to comfortably withstand shocks to the system, as we saw when COVID hit.