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It's a question of "What is the economy for?" Disruptive tech monopolies upset entire existing industries for the sake of their owners/shareholders/employees,
by xLaszlo 2y ago
It's a question of "What is the economy for?"
Disruptive tech monopolies upset entire existing industries for the sake of their owners/shareholders/employees, which is usually tiny compared to the said industries.
(Think of FB/Google advertisement centralisation as the end of other media providers.)
- jlangenauer 2y agoAnd have significant externalities which democratic societies must bear, but allow for the tech monopoly shareholders to reap more profits.
- SubmarineClub 2y agoAnd textile mills completely decimated the "putting-out" system of production.