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This is what happens when monopolies are allowed to exist. In a competitive market if the CEO gives away market share to rivals due to reckless indifference to
by Lendal 3y ago
This is what happens when monopolies are allowed to exist. In a competitive market if the CEO gives away market share to rivals due to reckless indifference to safety and becomes a liability, they will be fired or the company gets spun off to fend for themselves. When we as a society allow a monopoly to exist, then government assumes responsibility for whatever that monopoly does with its power. Government intervention ought to be a last resort, not the first. The only reason anyone's calling for government action here is because we allowed Boeing to become a monopoly to begin with, so now we have no other choice but to accept what Boeing has become or else break it up. All monopolies will eventually do something to harm the public in exchange for personal wealth. It is an inevitability.
- hackerlight 3y agoAirplane manufacturing sounds like a natural monopoly.
- pintxo 3y agoIt wasn’t for a long time. It sort of is now. The question is if, with new tech, we might be able to undo that?
- deleted 3y ago[deleted]
- mathgradthrow 3y agoWhat's your complaint? asteroid impacts are natural events too. I would like the government to try to avert those.
- hackerlight 3y agoNatural monopoly is a technical term, it doesn't mean naturally occurring in the sense you're implying.
- mathgradthrow 3y agoI'm sorry but you're exactly wrong. Natural monopoly means monopoly which is a direct consequence of nature, rather than through collusion and anticompetitive practice. Ie a "natural" monopoly. My analogy holds just fine.
- constantcrying 3y agoBut it isn't a monopoly? It is just an extremely capital intensive business. At least if you are building large passenger jets, everything else has quite a bit of competition.
- DaveExeter 3y agoI'm looking forward to Chinese competition in the aviation industry. This would benefit all players.