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40
stereotomy
2022 Jul 26, 11:58am
stereotomy
2022 Jul 26, 11:58am
Patrick says
I'm currently reading (on and off - I still have to work) "The Prize" by Daniel Yergin. It's very similar to the article. In the case of unfettered competition, companies operating in a given industry face a race to the bottom and financial ruin. They then enlist government regulation to maintain a certain level of profit while simultaneously erecting insurmountable barriers to new competition.
Hell, just look at what's happing with the pharma companies and the FDA. The regulatory agencies exist to enhance the profitability of these corporations.
Where the article goes wrong is neglecting the latter part of the process whereby regulation goes beyond insuring minimum profits and instead actively increases profit and control by the established corporations. Just look at the example of the East India company in england. They bought all the MP's with shares, then had the english government provide military support when "governing" India became too expensive.
https://thepricklypear.org/rethinking-regulatory-capture/
I'm currently reading (on and off - I still have to work) "The Prize" by Daniel Yergin. It's very similar to the article. In the case of unfettered competition, companies operating in a given industry face a race to the bottom and financial ruin. They then enlist government regulation to maintain a certain level of profit while simultaneously erecting insurmountable barriers to new competition.
Hell, just look at what's happing with the pharma companies and the FDA. The regulatory agencies exist to enhance the profitability of these corporations.
Where the article goes wrong is neglecting the latter part of the process whereby regulation goes beyond insuring minimum profits and instead actively increases profit and control by the established corporations. Just look at the example of the East India company in england. They bought all the MP's with shares, then had the english government provide military support when "governing" India became too expensive.
41
HeadSet
2022 Jul 26, 12:04pm
HeadSet
2022 Jul 26, 12:04pm
stereotomy says
Yes. and like the New World colonies, that entitled the risk of being taken over by "The Crown."
They bought all the MP's with shares, then had the english government provide military support when "governing" India became too expensive.
Yes. and like the New World colonies, that entitled the risk of being taken over by "The Crown."
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