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My 2 cents.
Monopolies are fine if they have been dictated by the market, as @ChrisV so beautifully puts above
However when it gets to the point whereby the monopoly is crushing the free market and competition, then that's about as uncapitalistic (not a real word, don't care) as you can get.
For instance in the 1970s British Airways colluded with a couple of other airlines to squeeze out Freddie Laker's Laker Airlines whom offered low cost flights from the UK to the US. They used their dominance in the market to fix prices so low, at the same time keeping fuel artificially high.
Twenty five or so years later Laker was compensated, yet they were up to their old tricks again, this time trying to squeeze out Virgin.
In my mind these types of monopolies are poison, because it is the service and product providers who determine the size, scope and needs of the market, leaving us the consumer with no choice at all.
So if that's what big tech are doing, F*ck 'em I say. If not, leave 'em alone.
Monopolies are fine if they have been dictated by the market, as @ChrisV so beautifully puts above
However when it gets to the point whereby the monopoly is crushing the free market and competition, then that's about as uncapitalistic (not a real word, don't care) as you can get.
For instance in the 1970s British Airways colluded with a couple of other airlines to squeeze out Freddie Laker's Laker Airlines whom offered low cost flights from the UK to the US. They used their dominance in the market to fix prices so low, at the same time keeping fuel artificially high.
Twenty five or so years later Laker was compensated, yet they were up to their old tricks again, this time trying to squeeze out Virgin.
In my mind these types of monopolies are poison, because it is the service and product providers who determine the size, scope and needs of the market, leaving us the consumer with no choice at all.
So if that's what big tech are doing, F*ck 'em I say. If not, leave 'em alone.
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