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The author is right but makes a similar mistake as the Americans, given he’s European. He does not clarify what market means. This can be perplexing and misunde
by klabb3 3y ago
The author is right but makes a similar mistake as the Americans, given he’s European. He does not clarify what market means. This can be perplexing and misunderstood by an American audience.
Market in the US is such a different thing. American companies like TurboTax and Comcast are operating (by American standards) right within the market. In fact, probably “better” than everyone else. The market is a Wild West where the goal is domination of a segment, ideally multiple ones. Like United healthcare is today.
In the EU markets mean competitive (more traditional) markets. For instance, the telecom roaming charges he brings up, are a perfect example of a Comcast-like perverted industry that simply got broken up. It used to be ludicrous prices - pushing people towards hotel WiFi or a surprise bill - then suddenly there are 10s of GB free. Nobody died and everyone got it better.
In America, this would be the equivalent of waking up one day and ISP prices had dropped by half and there are 10 providers to choose from, basically no matter where you lived.
Having lived in the US, nobody expects this. Even with things like student loan forgiveness, universal healthcare etc nobody actually expects these things to come without absolute giant catches - layering of new bureaucracy and hidden fees. So there’s a skepticism against these things. By extension, there is skepticism against the EU. “What are they up to, those sneaky fucks?”
As a European with a decent leaning towards classical markets and liberalism, my take is that the US has truly reached market perversion, to the extent that Milton Friedman would roll in his grave. The neo-liberalist pro-corporate tilt that we're seeing in the US today is beyond what I’d argue even the most laissez faire economical thinkers of the 20th century. It’s the opposite of what a free market should be. All the arguments for economic liberalism are based in the freedom to compete fairly. Without that, it’s just oligarchy with a different flag.
- dboreham 3y agoAgree. Nobody in the US expects anything to ever get fixed. Prime example: healthcare.
- spuz 3y agoI'm also from the EU, not the US but I have a hard time believing that Americans believe that monopolies or large dominant companies represent anything but the corruption of the concept of a market. Anti-trust laws in the US are some of the strongest in the world even if they are rarely enforced. I acknowledge they don't experience the benefits of free markets in many areas but I think they know what they should look like.