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But it always is though. In a government regulated economy, there is regulatory capture and lobbying to create industry friendly laws that allow monopoly (aka o
by Eddy_Viscosity2 3y ago
But it always is though. In a government regulated economy, there is regulatory capture and lobbying to create industry friendly laws that allow monopoly (aka our current system). In a fully free market, then there is no laws to prevent monopoly.
And by monopoly, I am also referring to systems where there are a few big players that just don't compete against one another, or one where there is a big player and a few small but inconsequential players. All of these result in the same effect as plain monopoly.
- simfree 3y agoEspecially with natural monopolies like infrastructure, there is no economic case to overbuild most power grids, water/sewer districts, Telecom infrastructure or natural gas networks regardless of regulation. The rare times you see overbuilding there is always a scheme involved, whether it's Comcast's recent edge outs to appear as though they aren't bleeding internet customers, or government money incentivising an overbuild cause the current ISP didn't document that they serve a set of addresses.