On 4/24/2014 10:23 PM, Patrick W. Gilmore wrote:
The invisible hand of the market cannot fix problems when there is a monopoly.
Put in economic terms, a player with Market Power is extracting Rents.
(Capitalization is intentional.)
Regulating monopolies allows a market to work, not the opposite.
Regulating monopolies protects monopolies from competition.
Monopolies can not persist without regulation.
A regulated monopoly is a monopoly, with all of the powers granted to
monopolies by regulation.
--
Requiescas in pace o email Two identifying characteristics
of System Administrators:
Ex turpi causa non oritur actio Infallibility, and the ability to
learn from their mistakes.
(Adapted from Stephen Pinker)
