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"encompassing 70% of multi-family apartment buildings" The hair splitting meme around "monopoly" and effective monopoly power (and the common meaning of these
by WhatIsDukkha 2y ago
"encompassing 70% of multi-family apartment buildings"
The hair splitting meme around "monopoly" and effective monopoly power (and the common meaning of these terms) is just ugly.
- gruez 2y ago>"encompassing 70% of multi-family apartment buildings" You conveniently left out the part before: "at least 21 large landlords and institutional investors [...]". Wikipedia says the definition of oligopoly is: "An oligopoly (from Ancient Greek ὀλίγος (olígos) 'few', and πωλέω (pōléō) 'to sell') is a market in which control over an industry lies in the hands of a few large sellers who own a dominant share of the market." "at least 21" is not "a few" by any stretch of the imagination.
- dpflan 2y ago21 is too many? Is it not relative to the market size and ownership of the "product"/"service" for the market? How many landlords are there and much of the market do they own?
- gruez 2y agoYes? At some point you have to draw the line between "oligopoly" and "normal market". I don't know what the number is, but it's safe to say that for most industries "at least 21" would make up the majority of market share and therefore it would be absurd to call that "oligopoly".