2 ms·
Not only do they benefit from public goods, but it's a market where the barrier to entry is so high that competition cannot happen efficiently. Now before our a
by guizzy 12y ago
Not only do they benefit from public goods, but it's a market where the barrier to entry is so high that competition cannot happen efficiently. Now before our american libertarian friends come frothing at the mouth, the barriers to entry are absurdly high before any sort of government interference, especially in North America, and with a captive customer base, it's just inherently a bad market to showcase capitalism.
So with inefficiencies due to a lack of competition comparable to a government agency AND a profit motive rather than the public service motive that government agencies have, you've got the worst of both worlds. Companies that barely compete to offer good service with the explicit intention of sucking as much of your dollars as they can for a service you can't really go without.