3 ms·
>in this case they had the sole source of the item (for a time) And this my friends is why artificial monopolies (created by vendor lock-in, proprietary device
by omegaworks 14y ago
>in this case they had the sole source of the item (for a time)
And this my friends is why artificial monopolies (created by vendor lock-in, proprietary devices, patents, or other perversions of the legal system) are inherently detrimental. Adam Smith, in his foundational work on Capitalism: The Wealth of Nations, rails against the practices that make monopolies possible. This market is not a free market.
- icelancer 14y agoOh, it's a free market for those small companies - if they fail, so what? But all of a sudden, you start doing $10+ million dollars in sales, you figure you need some backing by politicians... People love the upside of capitalism. But when it comes to the self-correcting measures it brings... not so much.