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Almost all markets are now monopoly, duopoly, or cartel. Has been for a while. It's gigantic detriment to innovation, unemployment, wage suppression, prices.
by AtlasBarfed 4y ago
Almost all markets are now monopoly, duopoly, or cartel. Has been for a while.
It's gigantic detriment to innovation, unemployment, wage suppression, prices.
The end state of unregulated real world free markets is monopoly, because of the ability to establish market barriers, extract subsidies, state-level actor manipulation, dumping.
Antitrust is dead in the US. Cartel economics is part of the oligarchical political control and the formalized power base of the rich.
And economists and economics were puppeted on TV, think tanks, parroting the free market religion to enable this.
And as part of this, we couldn't do anything (and still can't) about global warming. This will possibly doom us as a civilization.