Re:Too Many Companies Drain Value from the Economy
by dredmorbius on Wednesday July 03, 2019 @09:04PM
(#20350613)
And they're somewhere between wrong and disingenuous to do so, though it's an awfully common trope.
Contrast the treatment of monopoly in Marshall's Principles (the leading text from the 1880s through the 1940s) -- a full chapter, plus numerous other mentions -- with, say, Hazlitt's One Lesson, where it escapes mention entirely, save a note at the end. Hazlitt's book is corporate propaganda.
https://archive.org/details/in.ernet.dli.2015.217841/page/n5...
https://archive.org/details/in.ernet.dli.2015.217841/page/n9...
https://fee.org/resources/economics-in-one-lesson/ 9full text in one page)
Re:Too Many Companies Drain Value from the Economy
by Gibbon1 on Wednesday July 03, 2019 @09:38PM
(#20350775)
I think Martin Gardner when writing about bad science roughly said unless there are strong countervailing forces orthodoxy eventually becomes a reflection of cultural biases. I feel modern economics is if anything about generating obsequious corporate propaganda.
Re:Too Many Companies Drain Value from the Economy
by dredmorbius on Wednesday July 03, 2019 @10:03PM
(#20350892)
That tendency goes way back. To the point of coopting anticorporate texts as corporate propaganda, such as Wealth of Nations.
Re:Too Many Companies Drain Value from the Economy
by fladrif on Wednesday July 03, 2019 @06:00PM
(#20349332)
On the flip side regulations are in place to protect the ill-informed consumers (either due to mental capacity or lack of information). I figure consumers enjoy being in their position anyways, they just want something to work without having to worry about any of the details. i.e. Using Salesforce instead of rolling your own solution.
Re:Too Many Companies Drain Value from the Economy
by freethemullet on Wednesday July 03, 2019 @05:52PM
(#20349242)
Free markets are free to have monopolies.
Re:Too Many Companies Drain Value from the Economy
by Ididntdothis on Wednesday July 03, 2019 @05:51PM
(#20349226)
And except pure anarchy this mythical free market has never existed and probably never will.
Not taking the position, but free market supporters typically point to regulations as the main reason why monopolies exist.