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The "free market" failed when telco companies started flexing their monopoly muscle to punish their competitors. In the U.S. we have a rich history of regulatin
by rubbingalcohol 12y ago
The "free market" failed when telco companies started flexing their monopoly muscle to punish their competitors. In the U.S. we have a rich history of regulating monopolies, and these companies brought it on themselves with their inability to behave like good corporate citizens.
"Free markets" should be limited when they obstruct the liberty of the majority of the public or limit competition on a massive scale. This creates deadweight loss which is an economic net negative.
Imagine if, six months after moving to a new house, your electricity bill doubled because you were no longer in the "promotional period." Your electric company claims there's a free market, because you're free to install solar panels. Comcast et. al are no different than other local monopolies. Their claims of providing a "vibrant and innovative" broadband market are laughable when you look at the far superior state of broadband in other countries.
The cable companies were acting like a cartel of corporate thugs, they openly defied the government's ability to do anything about it, and they got served a massive dish of justice. All because the people spoke out and pushed the government to act in their interest. This is a great moment for American activism and democracy.
- Randgalt 12y agoThe Cable Cos have a government granted monopoly. No free market there. The simplest solution is to eliminate this monopoly.