Strikes me that competition used to be a parallel phenomenon but is increasingly a serial monopoly phenomenon now.
Interesting. Haven't read him in the original. Is there a specific ref where he develops this argument in these terms?
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Not exactly in terms of serial vs parallel per se, but see his discussion of creative destruction in Capitalism, Socialism and Democracy.
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He doesn't deny the 'parallel' aspects as much as he suggest creative destruction as the vastly more important driver in mkt economies.
End of conversation
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