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RE: Elizabeth Warren's idea of breaking up large firms is asinine.

in #politics5 years ago (edited)

The government-created internet has made so many goods so much more readily accessible. The vast majority of value goes to consumers (because that is almost always true with business-to-consumer transactions), while the companies, owners, and stockholders take the benefits of literally the first two trillion dollar corporations in history.

Search engines have made a vast world of information available. Google pretty much monopolized the search engine early on, then bought up AdSense and YouTube so that it could profit from twisting that information in a biased way. Since then, Google has been cheating to benefit itself and its friends.

Facebook just threw out Zerohedge yesterday upon its own decision with no serious analysis or input from the community of some two billion, and the 'property rights' notion of giant media companies allows it to delete anyone or anything it wants at any time.

Big firms believed to be so powerful they weren't susceptible to competition have failed in the past.

Big firms generally stay big. Firms that fail are the exceptions. This is why the top one percent have doubled their share of wealth since Ronald Reagan. While people wait for technological or entrepreneurial improvements that may one day promise a freer market or a freer internet that may never come, actual human beings have to live through the abuse of companies that have become to powerful.

The same market forces exist today.

The same noncompetitive forces exist today on the internet as those known for generations, forces like monopoly power, cartels, take-it-or-leave-it contracts, vertical integration, horizontal integration, coercion, misrepresentation, predatory pricing, dumping, inefficient profit optimization, etc., continue to distort markets.

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