5 ms·
I meant things like the current Twitter debacle where it might be costlier for Twitter to enforce a legally binding contract than for them to go along with Musk
by igorkraw 4y ago
I meant things like the current Twitter debacle where it might be costlier for Twitter to enforce a legally binding contract than for them to go along with Musk wanting to renegotiate, or the cost and risk of a patent litigation making it exceedingly rare for invalid patents to get nullified, or people not routinely suing big companies for losing their data or breaking their services. Litigation costs money, the risks are asymmetrical and hedged towards large players, which makes the game nudged towards large players, heirs and monopolists.
Land speculation is the general Georgist critique of natural monopolies like land allowing people to make profits without labor or risk, creating rents which suck up the efficiency gains of the wider economy.