@paulg And yet the 'free market' is pushing for every bloody business to establish a monopoly if it can.
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@dhh The market isn't. The companies are. And this is the counterbalancing force. - 1 more reply
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@paulg@mcclure111 I don't see what makes it correct, but it is also an independent effect to the original statement from Andi -
@migueldeicaza@paulg My perception is that markets optimize on short term wealth rather than long term. -
@migueldeicaza@paulg For this reason, I would expect markets to successfully optimize out short term inefficiencies like labor rights, -
@migueldeicaza@paulg but not do a very good job with optimizing out long term inefficiencies like monopolies. Monopolies are local maxima. -
@migueldeicaza@paulg This is obviously not a rigorous economic analysis or anything, but I feel it's easy to demonstrate historically… -
@migueldeicaza@paulg … markets easily working around say environmental regs but rarely overturning entrenched monopolies by themselves.
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@paulg *deep breath* please do not link me, you have 280k followers and I will probably be flooded with messages all day.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg that's why we need stronger business regulations, to stop them from "routing around" our laws and subverting our democracy.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg@mcclure111 woah, other version is scary.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg@mcclure111 During natural disasters where no rule of law exists, we find people charging exorbitantly for essentials.Thanks. Twitter will use this to make your timeline better. UndoUndo
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@paulg@mcclure111 damage? If morality or monopoly is inefficient, the free mkt would interpret each as opportunity, no?Thanks. Twitter will use this to make your timeline better. UndoUndo
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