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The two options dichotomy is false. There's at least a third option of the player with the deepest pockets outlasts and/or acquires the rest and then jacks up t
by kamarg 26d ago
The two options dichotomy is false. There's at least a third option of the player with the deepest pockets outlasts and/or acquires the rest and then jacks up the price once they're firmly in control of a "large enough" share of the market. At that point they can go the route of all monopolies and acquire or destroy any upcoming competition to maintain their market share and begin rent-seeking behavior.
This keeps human labor devalued while not allowing artificial labor's value to fall to low enough that human labor is back to being cost effective.
- soco 26d agoIf human labor is devalued, who will pay for the inference in the end? You might answer that some corporation will, but also that corporation must get their money from somewhere. And if "we the people" have no money to spend, at some point the corporation back scratching circle will break. Or am I wrong?