Re:Can Facebook Be Cut Down to Size?
by xtian on Wednesday June 06, 2018 @06:37PM
(#17251701)
> Being a monopoly is fine. The problem starts when a company abuses it's monopoly power.
This is dangerously incorrect. A market economy requires competition to function correctly. Any monopoly — but especially one in a major market — is a hazard to the health of the broader economy and the society that depends upon it.
> The long-term interests of consumers include product quality, variety, and innovation—factors best promoted through both a robust competitive process and open markets. By contrast, allowing a highly concentrated market structure to persist endangers these long-term interests, since firms in uncompetitive markets need not compete to improve old products or tinker to create news ones.
This is dangerously incorrect. A market economy requires competition to function correctly. Any monopoly — but especially one in a major market — is a hazard to the health of the broader economy and the society that depends upon it.
See: https://www.yalelawjournal.org/article/amazons-antitrust-par...
> The long-term interests of consumers include product quality, variety, and innovation—factors best promoted through both a robust competitive process and open markets. By contrast, allowing a highly concentrated market structure to persist endangers these long-term interests, since firms in uncompetitive markets need not compete to improve old products or tinker to create news ones.